A framework to conceptualize a new (software) product or feature, with references to other useful frameworks and concepts. This should be useful to new software product managers.

1. PRODUCT / FEATURE
CONCEPTUALIZATION
FRAMEWORK
Sumedh Inamdar (LinkedIn)

2.  PROBLEM
 What problem am I trying to solve?
 For whom am I solving it?
 Why is my company very suitable to solve this problem?
 Are other companies solving this problem already?
 PRODUCT / SOLUTION
 Solution (How does my solution help these people? Product/Market fit)
 Key milestones (What is MVP?)
 Competitive product analysis (USP? Entry barriers?)
 GO TO MARKET
 Market size (estimates of existing market and growth rate)
 Competitive sales/marketing strategy
 Customer acquisition strategy (costs, channels, partners)?
 Pricing and packaging strategy (rationale, tactics)

3.  PROBLEM
 What problem am I trying to solve? Is it worth solving?
 Define the problem, demo any proof that you have that this problem really exists, and it’s a big enough pain point. How have I
concluded that it’s a pain point? (e.g. talked to 10 existing customers / did a survey of 1000 potential users)
 For whom am I solving it?
 Define user personas, define customer personas. Who are early adopters?
 Why is my company very suitable to solve it?
 Is the problem broadly aligned with my company’s mission, vision, and skillsets?
 Are other companies solving this problem already?
 Existing or blue ocean market? If no one else is solving it so far, why? (especially validate that it’s a pain point if other companies aren’t
addressing this problem)
 What are my key assumptions, how will I validate them and what’s plan B if they are wrong?
 For example, what is my definition of “big enough” pain point? How will I “talk to” prospective customers? what if I realize that the pain point
is not very big one in terms of number of people / companies needing the solution?

4.  PRODUCT / SOLUTION
 How does my product / solution help?
 Define the solution with possible pieces (e.g. software + configuration + services)
 Define key use cases, user journeys, storyboards etc.
 MVP and later milestones
 What is MVP and why is it viable? How will it help us validate key assumptions?
 Competitive product analysis (example template)
 Details of how other products / solutions are solving the problem. Will my product be very similar? What are my USPs /
strengths? Are there any big entry barriers (like cutting edge technology)? Can competitors be classified in different
segments? Where will I fit?
 What are my key assumptions, how will I validate them and what’s plan B if they are wrong?
 For example, how much time and money would I need to build MVP and validate that product/market fit exists? What if I
realize that we don’t have the necessary technology / skillset to solve it?

5.  GO TO MARKET
 What is the market size?
 Is it a well-defined market with well defined market size and growth rate? If not, what proxies can I use depending upon my
assumptions about target user / customer personas? Can we segment market and approach them one by one?
 Competitive sales/marketing strategy
 How are we going to compete? What are our possible strengths? How does our brand compare with competitor brands? How do
competitors price their products?
 Customer acquisition / GTM
 Strategy (channels, partners, positioning / messaging)
 Estimated acquisition cost
 Pricing and packaging strategy
 Possible pricing, packaging, and profitability figures
 What are my key assumptions, how will I validate them and what’s plan B if they are wrong?
 For example, what if my customer acquisition cost is much higher than I expected? Will I have to change my pricing strategy?
Will that impact market size assumptions?