Product Management and Business Models

20th January 2014

Mike Henry
Time to Market
mikehenry@ttm.co.uk
TtM Product Solut...
PM and BM

Contents







2
© 2000 to 2014 TtM

Product Management Principles and Processes
Business Model Principl...
Time to Market Product Management and Business Model
Framework

PM and BM

3
© 2000 to 2014 TtM

© 2000 to 2014 TtM
“We ac...
PM and BM

Product Management Principles and Processes

4
© 2000 to 2014 TtM

Product Management (a working definition):

...
PM and BM

Product Management Processes and Toolkit

5
© 2000 to 2014 TtM

True „End to End‟ Product Management comprises:...
PM and BM

Product Management: Customer Product Value Propositions (PVP)

6
© 2000 to 2014 TtM

Customers
„Jo Public‟
Pers...
PM and BM

Business Model
Defines the way a business




delivers value to customers
entices customers to pay for value...
The different types of Business Models describe an „eco system‟ for
Product Management

PM and BM

8
© 2000 to 2014 TtM

T...
Time to Market Framework
Integrating Product Management and Business Model

PM and BM

9
© 2000 to 2014 TtM

Tools for
Pro...
Product Management Responsibilities
and Business Model

PM and BM

10
© 2000 to 2014 TtM

Business Model Canvas

Business ...
PM and BM

That‟s all Folks – Thank you

Mike Henry
Time to Market
mikehenry@ttm.co.uk
TtM Product Solutions Ltd
www.ttm.c...
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Product management business_model_20140120

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How Product Management and Business Model fit together in terms of tools and responsibilities

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Product management business_model_20140120

  1. 1. Product Management and Business Models 20th January 2014 Mike Henry Time to Market mikehenry@ttm.co.uk TtM Product Solutions Ltd Tel: +44 1462 337461 Mob: +44 7802 323678 The purpose of this presentation is to discuss the principles and tools associated with:      Product Management Business Models Inter-relationship between them How Product Management can integrate them Accountabilities and responsibilities of Product Management
  2. 2. PM and BM Contents       2 © 2000 to 2014 TtM Product Management Principles and Processes Business Model Principles Product Management and Business Model Canvas Toolkit Types of Business Model Relationships between Product Life Cycle Model and Business Model Canvas Product Management‟s responsibilities relating to Business Models © 2000 to 2014 TtM “We accelerate growth”
  3. 3. Time to Market Product Management and Business Model Framework PM and BM 3 © 2000 to 2014 TtM © 2000 to 2014 TtM “We accelerate growth”
  4. 4. PM and BM Product Management Principles and Processes 4 © 2000 to 2014 TtM Product Management (a working definition):  a set of management processes, responsibilities, skills and tools  dealing with strategy, planning, development and marketing of products or product portfolios  at all stages of the product lifecycle (from conception to grave)  Linked to product, market, technology and Business model innovation  to maximise sales revenues, market share, and profit margins. True „End to End‟ Product Management comprises:      A set of Core Processes occurring at stages of Product Life Cycle) Ongoing set of Supporting Processes which provide information for Core processes Linkage between In-bound (to company) Product Management and Out-Bound Product Marketing and Sales Toolkit to help implementation Integrated Accountabilities and Responsibilities with Product management as the „spider in the web‟ © 2000 to 2014 TtM “We accelerate growth”
  5. 5. PM and BM Product Management Processes and Toolkit 5 © 2000 to 2014 TtM True „End to End‟ Product Management comprises: Product Management Toolkit :         A set of Core Processes occurring at stages of Product Life Cycle) Ongoing set of Supporting Processes which provide information for Core processes Linkage between In-bound (to company) Product Management and Out-Bound Product Marketing and Sales Toolkit to help implementation Integrated Accountabilities and Responsibilities with Product management as the „spider in the web‟    An integrated set of Tools each with a specific purpose Aligned with Core and Supporting Processes Tuned to level of Product Management e.g. Foundation, Intermediate, Advanced Core tool is Customer Product Value Proposition (PVP) Some tools are for Product Portfolio Management Tools form a database which evolves through Product Life Cycle © 2000 to 2014 TtM “We accelerate growth”
  6. 6. PM and BM Product Management: Customer Product Value Propositions (PVP) 6 © 2000 to 2014 TtM Customers „Jo Public‟ Person in the Street B2C Customer Product Value Propositions (PVP):   Based on “Whole Product” – not just the „techie bit” Describes WHO (Market Segment/ Target Customer) the PVP is for WHAT they want (Requirements/ Benefits/ Expectations) HOW we will provide it in terms of Key or Unique Selling Points Opportunities and Threats relative to competitive offerings Consumers End Users End Choosers    „Business People‟ B2B Product Value = Benefits – Price – Effort – Risk Propositions = packages of: Business Users „Technical‟ Buyers „Economic‟ Buyers •product, service •Marketing tangibles and intangibles •price or total cost of ownership •effort and risk reduction  which are better than the competitive propositions  which are distinctive and compelling WHO Against WHAT do we compete WHAT HOW do they want do we provide © 2000 to 2014 TtM “We accelerate growth”
  7. 7. PM and BM Business Model Defines the way a business    delivers value to customers entices customers to pay for value converts payments/ revenue into profits Reflects a business hypothesis about:      What customers want How they want it The ways a business can deliver it Get paid for doing it Make a profit 7 © 2000 to 2014 TtM Business Model Canvas is a tool which is used to describe: Business Model Building Blocks CS: Customer Segments Countries/ Cultures Groups of Customers served. B2B and/or B2C Countries in which customers are based Different cultures which Customers belong to. VoC: Voices of Customers How customers requirements are collected Their priorities needs and wants Descriptions of products, services and solutions comprising: Who, What (do they want), How (do we provide), Against What (do we compete) Bunch of products, services and solutions which we offer to our customers (B2B, B2C) in the various segments, industries and countries. PVP: Product Value Propositions PP: Product, Service and Solution Portfolio CP: Competitors CP: Competitive Products TP: Technology Portfolio CSR: Sales Channels/ Routes to Market/ Customer Relationships CSR: Market Communications DSP: Demand Side Partners or Collaborators CIR: Contingents: Influencers/ Regulators Those competing companies or other entities comprising: Industry or Direct Competitor; Customers; Suppliers; New Entrants; Substitutes The bunches of products, services and solutions which are offered by competitors. The bunches of product, solution, manufacturing, operational or other technologies which provide value to customers or partners. Ways in which products, services or solutions are offered, sold and supplied to customers comprising direct and indirect channels, physical and on-line routes. The ways we establish relationships with customers for acquisition and retention. Ways used to do outbound market communications with customers, prospective customers, market influencers Strategic Partner companies or other entities which are involved in the Go to Market side of the Product Value Network. Sometimes referred to as Peer Partners. Regulators, standards and other influencers on markets. ICS: Internal Colleagues/Stakeholders Key to Product Management colleagues or co-workers within the internal Product Value Network. SSP: Supply Side Partners (Collaborators & Suppliers) £R: Reward/ Revenue Streams Strategic Partner companies or other entities which are involved in the Supply side of the Product Value Network. £R: Price and Profit £C: Cost Structure (including Risk) KAP: Key Activities & Processes KR: Key Resources Reward streams comprising Revenue, Market Share, …. Which result from Product Value Propositions and Portfolios successfully offered and delivered to customers. Price structures which provide profits and margins after taking into account cost structure. Product and other Cost elements such as fixed and variable costs which are required to provide and deliver Product Value Propositions and Portfolios successfully. Key Business Processes and Product Management activities which are required to gather knowledge relating to market, customers, competitive, regulatory etc. and do the work to provide and deliver Product Value Propositions and Portfolios successfully. Critical assets in terms of facilities, people, knowledge, intellectual property, money, capital etc. required to gather knowledge relating to market, customers, competitive, regulatory etc. and do the work to provide and deliver Product Value Propositions and Portfolios successfully. © 2000 to 2014 TtM “We accelerate growth”
  8. 8. The different types of Business Models describe an „eco system‟ for Product Management PM and BM 8 © 2000 to 2014 TtM Types of Business Model : there are hybrids!! Example Business Model Canvas: „eco system‟ © 2000 to 2014 TtM “We accelerate growth”
  9. 9. Time to Market Framework Integrating Product Management and Business Model PM and BM 9 © 2000 to 2014 TtM Tools for Product Management Tool for Product Management Core Tool for Product Management „eco system‟ Core Tool for Business Model © 2000 to 2014 TtM “We accelerate growth”
  10. 10. Product Management Responsibilities and Business Model PM and BM 10 © 2000 to 2014 TtM Business Model Canvas Business Model Definition and Update  If a Business Model has not been defined then Product Management needs to take Accountability and Responsibility for working with Key Stakeholders to generate a Business Model Canvas and keep it updated  Product management need to position Product Management tasks within an evolving Business Model Business Model Implementation  Product Management need to take Accountability and Responsibility for some parts of a Business Model  They need to take Responsibility with other stakeholders in other parts.  In the rest of a Business Model Product management need to be consulted, at the least. Business Model Canvas Key areas for Product Key Building Blocks for Product Management Accountability ManagementAccountability and Responsibility and Responsibility © 2000 to 2014 TtM “We accelerate growth”
  11. 11. PM and BM That‟s all Folks – Thank you Mike Henry Time to Market mikehenry@ttm.co.uk TtM Product Solutions Ltd www.ttm.co.uk Tel: +44 1462 337461 Mob: +44 7802 323678 11 © 2000 to 2014 TtM Mike will be very happy to receive: Any Questions Comments or Feedback © 2000 to 2014 TtM “We accelerate growth”
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