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Customer Centric Product Strategy Dec 2012
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Customer Centric Product Strategy Dec 2012

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Customer Centric Product Strategy

Customer Centric Product Strategy

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  • 1. Product Strategy A Customer Centric Approach Ramkumar NarayananGeneral Manager, eBay Centre of Excellence, India
  • 2. StrategyA plan, method, or series of maneuvers orstratagems for obtaining a specific goal orresultSource: Dictionary.com Ramkumar Narayanan - Dec 2012
  • 3.  What is the market opportunity?  Who is the customer?  How will the solution address customer need?  What defines success?  How to effect customer adoption?Ramkumar Narayanan - Dec 2012
  • 4. Market OpportunityRamkumar Narayanan - Dec 2012
  • 5. Market Opportunity  Clearly define the market you want to play in … Geo, Demo, Consumer, Enterprise, Large, Small etc.  Define the bounding box … BUT not too narrow – nor too wide  Arrive at the addressable opportunity … Evaluate constantly  Market situation analysis … Porters 5 forces – the popular frameworkRamkumar Narayanan - Dec 2012
  • 6. Customer DefinitionRamkumar Narayanan - Dec 2012
  • 7. Customer Definition  Get a deep view of your customer … Demog, Psychog, Socio-Economic, Cultural etc.  Develop persona(s) … NEEDS to become the lingua franca  Build a view of their life that is material (to you) … ILLUSTRATE the unmet need or pain point  Understand the competitive environment … WHAT else do they use and value derived  Create a hypothesis on the business model … WHO is going to pay for the solutionRamkumar Narayanan - Dec 2012
  • 8. The SolutionRamkumar Narayanan - Dec 2012
  • 9. The Solution  Stack rank the unmet needs … PICK the top ones to focus on  Get in front of customers early and often … Access, Simplicity, Usability, Validation etc.  Develop the value proposition (differentiation) … DEMONSTRATE why they need it (critically)  Understand the dependencies … THIS is a connected eco-system  Deliver to customer fast and build for scale … INSTRUMENT for insight and iterateRamkumar Narayanan - Dec 2012
  • 10. Success MetricsRamkumar Narayanan - Dec 2012
  • 11. Success Metrics  Define realistic goals for users and revenue … STRETCH but don’t go overboard  Validate a scalable business model … DRIVE revenue based on customer and channel  Evaluate customer satisfaction constantly … THIS is what matters  Measure against competition … EVEN if things appear extremely goodRamkumar Narayanan - Dec 2012
  • 12. Marketing PlanRamkumar Narayanan - Dec 2012
  • 13. Marketing Plan  Define clear marketing objectives and strategy … MATRIX of market and product type  Availability strategy … DECIDE gradual/full, markets etc.  Drive adoption and usage … USE channels, campaigns, partnerships etc.  Beware the 2 guys with a laptop chasing you … BE on your toes and look over your shoulderRamkumar Narayanan - Dec 2012
  • 14. ITERATERamkumar Narayanan - Dec 2012
  • 15. Good luck!Ramkumar Narayanan - Dec 2012