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Creating a Product Strategy to Drive Your Company's Revenue Growth - ProductCamp SV - AIPMM
 

Creating a Product Strategy to Drive Your Company's Revenue Growth - ProductCamp SV - AIPMM

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Learning Objectives ...

Learning Objectives
• Why do you need to define a product strategy for your company?
• What are the benefits of implementing a product planning process?
• What do you need to create successful products consistently?

Description
The creation of successful products is essential for companies that want to grow or maintain a competitive advantage. Many organizations lack a clearly defined and understood product strategy. We will discuss the benefits of adopting the Association of International Product Marketing and Management (AIPMM) Product Management Framework (PMF) to align your business and product strategies with unmet customer needs and market trends to create value for your business using a sustainable approach.

Audience
This presentation is for product managers, marketers, entrepreneurs, innovators, and technology-based business owners that want to expand their knowledge about how to create successful products that customers demand.

For more info, connect with Hector Del Castillo at http:/linkd.in/hdelcastillo.

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  • AIPMM offers globally recognized certifications for product managers, product marketing managers and brand managers.Certified Product Manager (CPM), Certified Product Marketing Management (CPMM) and Agile Certified Product Manager (ACPM). Certification requires obtaining a college degree, minimum one year of experience, and passing a certification examination.
  • Product Strategy is a company’s game plan that takes into account the core capabilities within a business to create and deliver value-added products within a marketplace.It describes how you plan to conceive, plan, implement, distribute, market and sell your products in a sustainable manner.
  • Why Your Company Need It?Provides a roadmap to create value for your business, customers and investors.Identifies how you plan to market and sell your products to your marketplace.Anticipates your competitors’, including new entrants, probable moves.Defines how your customers think about your products. May encompass any number of products, depending on the nature of your business.
  • In their March 21, 2011 issue, FORTUNE magazine named the 50 most innovative companies overall. FORTUNE's survey asked businesspeople to vote for the most innovative companies, from any industry.Results showed that each of the top 10 most innovative companies are ranked #1 or #2 within their own respective industrial segments.The Kellogg study concludes that high-performance firms have a clearly-defined process for product launch, escalations, and need identification.
  • Business StrategyDescribes what a business wants to achieve and then how it is going to make it happen, with its products, customers, and operations.Defines the path to create a sustainable competitive advantage.Product StrategyDescribes resources, operations, channels and partners to create and deliver value to your target customers in a sustainable manner.Provides a roadmap for investment and creation of new revenue streams.
  • Recommended Reading:Harvard Business Review April 2004The Ambidextrous Organizationby Charles A. O’Reilly III and Michael L. TushmanThe Roman god Janus had two sets of eyes—one pair focusing on what lay behind, the other on what lay ahead. General managers and corporate executives should be able to relate. They, too, must constantly look backward, attending to the products and processes of the past, while also gazing forward, preparing for the innovations that will define the future.
  • http://www.businessweek.com/magazine/content/11_24/b4232068147070.htm
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.It contain elements that apply across all industries and all companies and can also be adapted to create customized frameworks to address unique needs of specific industries and companies.It defines a standard set of inputs, processes and outputs that can be applied to any product.It provides a solid foundation for both implementing and evaluating a product management organization in a company.
  • A business model is a framework that describes the rationale of how an organization creates, captures and deliversvalue to customers,shareholders and employees.The business model creation process is part of business strategy.Business models are used to describe and classify businesses. They are also used by managers inside companies to explore possibilities forfuture development.
  • A business model is a framework that describes the rationale of how an organization creates, captures and deliversvalue to customers, shareholders and employees.The business model creation process is part of business strategy.Business models are used to describe and classify businesses. They are also used by managers inside companies to explore possibilities forfuture development.
  • Certification validates your knowledge and expertise in Product Management, Product Marketing Management and Agile Product Management.Certification evaluates your expertise regarding the product management and marketing body of knowledge.Certification provides a mark of distinction that sets you apart. Certification provides external validation of your knowledge and competence among others not familiar with the profession, improving your marketability. Certification shows your commitment to the profession and your own professional growth.Certification improves your opportunity for professional advancement, including your professional marketability, salary increases, job role and promotions.Certification requires a dedication to continuing education, promoting your continued growth and development as a professional. Certification may persuade your employer to underwrite educational activities that support your professional development and your company's continuous improvement efforts. Certification links youwith experts and thought leaders in your profession.
  • Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.
  • Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.

Creating a Product Strategy to Drive Your Company's Revenue Growth - ProductCamp SV - AIPMM Creating a Product Strategy to Drive Your Company's Revenue Growth - ProductCamp SV - AIPMM Presentation Transcript

  • Hector Del Castillo linkd.in/hdelcastillo March 24, 2012© AIPMM 2012
  • Hector Del Castillo • Over 10 years transforming products to profit for technology-based companies • AIPMM Body of Knowledge (ProdBOK®) Contributor • Established companies – Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies • Small companies and startups – Nextone Communications, Smith Micro Software • Launched 27+ Products for global deployment – HW/SW, Telecom, Enterprise Mobility, Information Security Services, Professional Development • Certified PMP®, CPM® and CPMM® • University of California at Santa Barbara, MS EE • University of Texas at El Paso, MS EE, BS EE© AIPMM 2012
  • © AIPMM 2012
  • © AIPMM 2012
  • AIPMM Certifications Certified Product Manager (CPM®) Certified Product Marketing Manager (CPMM®) Agile Certified Product Manager (ACPM®) Source: Get Certified, AIPMM Website© AIPMM 2012
  • What We Will Discuss 1. What is Product Strategy? 2. Why Your Company Needs It 3. Implementing A Product Strategy 4. Key Takeaways© AIPMM 2012
  • What is Product Strategy? ”Product strategy begins with a strategic vision that states where a company wants to go, how it will get there, and why it will be successful.” Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001© AIPMM 2012
  • ”Product strategy is like a roadmap. It’s useful only when you know where you are and where you want to go.” Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001© AIPMM 2012
  • Fortune’s Most Innovative Companies Rank Company Industry Industry Rank 1 Apple 1 Computers 2 Google 1 Internet Services & Retailing 3 Nike 1 Apparel 4 Amazon.com 2 Internet Services & Retailing 5 Charles Schwab 1 Securities 6 3M 1 Medical Equipment 7 Statoil 1 Petroleum Refining 8 Exxon Mobil 3 Petroleum Refining 9 Walt Disney 1 Entertainment 10 Whole Foods Market 2 Food and Drug Stores Source: FORTUNE Magazine, 21 Mar 2011© AIPMM 2012
  • TIPS FOR IMPLEMENTING A PRODUCT STRATEGY SUCCESSFULLY© AIPMM 2012
  • 1. Align Strategies With Needs Focus on creating and delivering value-added Customer products to target customers Product based on their unmet needs. (Value) Business Market © H. Del Castillo, AIPMM, Product Management Triple Constraint, 2011© AIPMM 2012
  • Understand The Difference Business Strategy vs. Product Strategy Defines the path to Roadmap for investment create a sustainable and creation of new competitive advantage revenue streams. for your business.© AIPMM 2012
  • Create Alignment Align business, marketing and product strategies with unmet market needs.© AIPMM 2012
  • Document and Communicate It Financial How much investment is needed? How soon will we break even? Learning & Growth Customer What key resources are Product What are the unmet needs? needed? Vision & Mission Who are the customers? What knowledge and skills are needed? Who’s most likely to buy? Business Processes What key activities and deliverables are needed?© AIPMM 2012
  • 2. Mind Your Company’s Culture Cultivate a culture that Process fosters innovation and collaboration to create People & deliver great products. Culture© AIPMM 2012
  • Focus on Shared Values Source: McKinsey 7S Framework© AIPMM 2012
  • Eliminate organizational silos© AIPMM 2012
  • 3. Create a Product Planning Process Product Management Framework (PMF) Source: © AIPMM, 1998-2012, All Rights Reserved.© AIPMM 2012
  • Leverage The Product Life Cycle© AIPMM 2012
  • Identify Key Resources© AIPMM 2012
  • Define Key Deliverables© AIPMM 2012
  • 4. Identify Market/Customer Trends© AIPMM 2012
  • Discover Unmet Customer Needs© AIPMM 2012
  • Identify Customer Segments Needs; e.g., Demographics; e.g., Problems/pain points Industry Applications/uses addressed Function Key functionality/attributes Geography Degree of sophistication/quality/… Age/gender/income Drives Product/Solution Strategy Other personal/business Behaviors and Attitudes; e.g., characteristics Risk appetite/adoption Drives Outreach Strategy Psychographics (lifestyle/personality) Stated/unstated values Usage patterns Vendor/brand loyalty Drives Adoption Strategy© AIPMM 2012
  • Know Your Competitive Landscape© AIPMM 2012
  • 5. Deliver Value, Success Will Follow© AIPMM 2012
  • Creating and delivering value to customers, executives and investors is essential for a successful business.© AIPMM 2012
  • Direct the Internal Value Chain© AIPMM 2012
  • 6. Use Leading Productivity Tools© AIPMM 2012
  • Build Your Business Model© AIPMM 2012
  • Make Your Business Case© AIPMM 2012
  • Key Takeaways 1 • Align strategies with needs 2 • Mind your company’s culture 3 • Create a product planning process 4 • Identify market/customer trends 5 • Deliver value, success will follow 6 • Use leading productivity tools© AIPMM 2012
  • Join AIPMM • Network with experts and thought leaders in your profession. • Learn the latest best practices and methodologies. • Expand your knowledge and soft skills. • Sharpen your leadership and influential skills. • Validate your expertise with internationally recognized certifications. • Obtain latest tools to enhance your productivity.© AIPMM 2012
  • Why Get Certified • Bestows internationally recognized credential • Enhances opportunities for career advancement • Improves your earning potential • Validates your expertise regarding best practices • Grants mark of distinction that sets you apart • Connects you with experts and thought leaders • Demonstrates commitment to your profession Source: All About Product Management Certification Webcast, Jun 2010© AIPMM 2012
  • For More Information About • AIPMM membership information • Certification courses in your area • Help to implement the right product strategy & process to grow your business© AIPMM 2012
  • Join My Professional Network! Hector Del Castillo, PMP, CPM, CPMM Transforming products to profit for technology-based organizations.TM Product Marketing Director, AIPMM Connect: linkd.in/hdelcastillo Follow: @hmdelcastillo Contact: hmdelcastillo@aipmm.com© AIPMM 2012