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What is Product Value?

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What is Product Value?

  1. 1. Pragmatic Leaders | AMA 2nd November 2017
  2. 2. • What is Product Value? • Why does it matter? • How do you measure it?
  3. 3. Pivot Venture Services builds software platforms and products for early stage companies in exchange for equity.
  4. 4. Product Capital
  5. 5. • What is Product Value? • Why does it matter? • How do you measure it?
  6. 6. Product Value?
  7. 7. Value is psychological, amorphous and complex.
  8. 8. “Product value is the benefit that a customer gets by using a product to satisfy her needs minus associated costs.”
  9. 9. Prospect Theory
  10. 10. • Value outcomes are judged in terms of 'gains' & 'losses.' • Gains and losses are relative • "Losses loom larger than gains." (Loss aversion) Prospect Theory
  11. 11. Endowment Effect
  12. 12. Tradeoffs Features Look and feel Price Usability Speed “Total Product Value”
  13. 13. “Typically a product has a few key features that deliver the vast majority of the aggregate value. It’s possible to destroy overall product value by making changes or adding new features.”
  14. 14. • What is Product Value? • Why does it matter? • How do you measure it?
  15. 15. Value Price Positioning Features Users
  16. 16. Product Management Product Marketing Value
  17. 17. “1000 songs in your pocket.”
  18. 18. “Users are only ever in three states — they’ve never heard about it; they’ve tried it; and they use it. What you’re managing is state change.”
  19. 19. I don’t know you. I get you. I want to customise you. I’m considering you. User Familiarity
  20. 20. Acquisition / Growth Core Task Completion AdministrationOnboarding
  21. 21. Promise of value. Delivery of value. Extension of value. Demonstration of value.
  22. 22. Acquisition / Growth Core Task Completion AdministrationOnboarding
  23. 23. Promise of value. Delivery of value. Extension of value. Demonstration of value. Aha!!
  24. 24. Software
  25. 25. Cost (Supply) Demand Product
  26. 26. Cost (Supply) Demand Product
  27. 27. Price vs. Value(?)
  28. 28. = 8 = 11
  29. 29. • What is Product Value? • Why does it matter? • How do you measure it?
  30. 30. “If we were able to do that, it would be awesome!!” “The way we work right now is a nightmare!” “It’s an unbelievable waste of time…” “Wouldn’t it be amazing if….!!”
  31. 31. 1. Save time 2. Reduce cost 3. Make me look good 4. Reduce anxiety
  32. 32. “Instead of thinking about features, screens or technologies, founders and product leaders should begin by carefully identifying the value their product will deliver and the outcomes it will help their customers achieve.”
  33. 33. Questions?

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