This document outlines a process for product development that includes market assessment, pro forma financial analysis, concept development and demonstration, stage gate processes, enabling technologies, bootstrapping, technology roadmaps, product planning, partnering, IP management strategies, and implementation roadmaps. It emphasizes the importance of clear metrics, understanding customer needs, estimating costs and revenues, and integrating internal and external stakeholders through integrated product teams.
What It Takes to Be a Great Product Leader - The Four PillarsJay Patel
Do you know what it takes to be a great Product Leader? In this presentation, you’ll learn about the 4 Pillars of Product Leadership, and discover key skills that can take your career from good to great.
"Where Does (Should) Strategy Live in Your Company?" from SDForum Marketing SIG, 4/12/10. Tackles key cross-functional inputs for a strategy, who needs to participate, and where (in a start-up or small company) this should be located/managed from. Highlights product management as typically missing in small Silicon Valley companies.
Making The Right Strategic Choices in Product PortfoliosRich Mironov
Software executives and software product managers focus first on putting the right products into their portfolios - since the primary drivers of market success are identifying the right markets, segments and customer problems to solve. Deciding what products to build, and their relative priority, is a top-down strategic process supported by metrics-driven engineering and program management
The Agile Product Manager/Owner Dilemma (ProdCampNYC)Rich Mironov
As product managers grapple with Agile and scrum's product owner, how do we define roles, decide waht needs to be done, think broadly about go-to-market instead of narrowly about software creation, and map out a job that mortals could succeeed at?
(This was presented at Product Camp NYC in July '09.)
Agile ProDUCT Management Essentials for ProJECT and ProGRAM ManagersRich Mironov
This September webinar for PMI’s Agile Community of Practice laid out the basics of tech product management, how it maps against project/program management, and how agile shifts these (traditional) roles.
Good, Better Bet Product Management (Seattle Product Camp keynote)Rich Mironov
Talk for Seattle Product Camp (25 Oct 14) on minimally viable product management (just enough to avoid hindering product flow) up through great product managers/leaders/thinkers
What It Takes to Be a Great Product Leader - The Four PillarsJay Patel
Do you know what it takes to be a great Product Leader? In this presentation, you’ll learn about the 4 Pillars of Product Leadership, and discover key skills that can take your career from good to great.
"Where Does (Should) Strategy Live in Your Company?" from SDForum Marketing SIG, 4/12/10. Tackles key cross-functional inputs for a strategy, who needs to participate, and where (in a start-up or small company) this should be located/managed from. Highlights product management as typically missing in small Silicon Valley companies.
Making The Right Strategic Choices in Product PortfoliosRich Mironov
Software executives and software product managers focus first on putting the right products into their portfolios - since the primary drivers of market success are identifying the right markets, segments and customer problems to solve. Deciding what products to build, and their relative priority, is a top-down strategic process supported by metrics-driven engineering and program management
The Agile Product Manager/Owner Dilemma (ProdCampNYC)Rich Mironov
As product managers grapple with Agile and scrum's product owner, how do we define roles, decide waht needs to be done, think broadly about go-to-market instead of narrowly about software creation, and map out a job that mortals could succeeed at?
(This was presented at Product Camp NYC in July '09.)
Agile ProDUCT Management Essentials for ProJECT and ProGRAM ManagersRich Mironov
This September webinar for PMI’s Agile Community of Practice laid out the basics of tech product management, how it maps against project/program management, and how agile shifts these (traditional) roles.
Good, Better Bet Product Management (Seattle Product Camp keynote)Rich Mironov
Talk for Seattle Product Camp (25 Oct 14) on minimally viable product management (just enough to avoid hindering product flow) up through great product managers/leaders/thinkers
Making Hard (Strategic) Decisions about Products and PortfoliosRich Mironov
Software executives and software product managers should focus first on putting the right products into their portfolios -- since the primary drivers of market success are identifying the right markets, segments and customer problems to solve.
(For Product Tank San Francisco)
In this August 2014 talk for SVPMA, I parse out how product managers add value -- and intersect this with Lean and Agile. Takeaway: we should use the best tools/methods for the right problems (e.g. Lean for customer validation) but we still need product managers at non-startups to drive whole products and organizational alignment.
Discussion of what technology product managers do, and how this differs from program/project management. Presents idealized role division, knowing that no organization matches the idea. For IEEE-TMC local meeting
Product Management Is Not Optional (EL-SIG/SVForum)Rich Mironov
Intended primarily for an audience of engineering leaders and development managers, with this agenda:
- Product management is about doing the right things. Engineering is about doing things right.
- Prioritization is political and strategic as well as algorithmic
- Symptoms of weak product management and how Engineering can help
This was a talk for SVForm's Engineering Leadership SIG on 21 Aug 2014.
From a recent talk to Texas McCombs MBAs about what product management is, what skills product managers need, and how to get a job in product management.
Customer Value and What Things are Worth (DIT Product Mgmt)Rich Mironov
From my Feb 2014 class time in Dublin Institute of Technology's product management certificate program: a module on quantifying customer value (esp B2B) and how to price software/technology solutions. In-class exercises removed.
Informal discussion about #prodmgmt role, challenges, overlap with product owner & project manager, promotional cycle, and getting into prodmgmt. Hosted by ProdmgmtTalk and Atlassian
Why You’ll Eventually Need A Product Manager At Your StartupRich Mironov
Very early stage startups (pre-revenue, 10 people or less) don’t have dedicated product managers / product owners. But once they get to 30 people or have a few big-revenue customers, lack of product management can be disastrous. This talk maps out the challenge of growth and when/how product management becomes essential.
Product Management Basics (for SCU MBA program)Rich Mironov
For Prof. Kumar Sarangee's MBA class at Santa Clara/Leavey. Basics of tech product management: role, pricing, roadmapping, and "how it is in the real world." Energetic class participation
Product Tank Dublin: Scaling Agile Product ModelsRich Mironov
"Product Managers, Product Owners, Scalable Agile Product Models:" what do the first few scale-ups of product management look like, from one end-to-end PM to several to a multi-tier model? And what are some of the challenges/pitfalls?
How to Manage a Mixed Portfolio of Products by Salesforce PMProduct School
Major Takeaways:
- Conduct meaningful buy vs. build assessments: total cost of ownership, using 3rd parties to prove an internal build investment, influence their road maps
- Think big and take on risk: bring internal engineers the challenge of building better than what's out there
- Look w/in the business: Salesforce on Salesforce and other internal partnerships
Making Hard (Strategic) Decisions about Products and PortfoliosRich Mironov
Software executives and software product managers should focus first on putting the right products into their portfolios -- since the primary drivers of market success are identifying the right markets, segments and customer problems to solve.
(For Product Tank San Francisco)
In this August 2014 talk for SVPMA, I parse out how product managers add value -- and intersect this with Lean and Agile. Takeaway: we should use the best tools/methods for the right problems (e.g. Lean for customer validation) but we still need product managers at non-startups to drive whole products and organizational alignment.
Discussion of what technology product managers do, and how this differs from program/project management. Presents idealized role division, knowing that no organization matches the idea. For IEEE-TMC local meeting
Product Management Is Not Optional (EL-SIG/SVForum)Rich Mironov
Intended primarily for an audience of engineering leaders and development managers, with this agenda:
- Product management is about doing the right things. Engineering is about doing things right.
- Prioritization is political and strategic as well as algorithmic
- Symptoms of weak product management and how Engineering can help
This was a talk for SVForm's Engineering Leadership SIG on 21 Aug 2014.
From a recent talk to Texas McCombs MBAs about what product management is, what skills product managers need, and how to get a job in product management.
Customer Value and What Things are Worth (DIT Product Mgmt)Rich Mironov
From my Feb 2014 class time in Dublin Institute of Technology's product management certificate program: a module on quantifying customer value (esp B2B) and how to price software/technology solutions. In-class exercises removed.
Informal discussion about #prodmgmt role, challenges, overlap with product owner & project manager, promotional cycle, and getting into prodmgmt. Hosted by ProdmgmtTalk and Atlassian
Why You’ll Eventually Need A Product Manager At Your StartupRich Mironov
Very early stage startups (pre-revenue, 10 people or less) don’t have dedicated product managers / product owners. But once they get to 30 people or have a few big-revenue customers, lack of product management can be disastrous. This talk maps out the challenge of growth and when/how product management becomes essential.
Product Management Basics (for SCU MBA program)Rich Mironov
For Prof. Kumar Sarangee's MBA class at Santa Clara/Leavey. Basics of tech product management: role, pricing, roadmapping, and "how it is in the real world." Energetic class participation
Product Tank Dublin: Scaling Agile Product ModelsRich Mironov
"Product Managers, Product Owners, Scalable Agile Product Models:" what do the first few scale-ups of product management look like, from one end-to-end PM to several to a multi-tier model? And what are some of the challenges/pitfalls?
How to Manage a Mixed Portfolio of Products by Salesforce PMProduct School
Major Takeaways:
- Conduct meaningful buy vs. build assessments: total cost of ownership, using 3rd parties to prove an internal build investment, influence their road maps
- Think big and take on risk: bring internal engineers the challenge of building better than what's out there
- Look w/in the business: Salesforce on Salesforce and other internal partnerships
What should you do in the First 90 Days as a Sales Manager or VP? Brett Wallace, VP of Sales for Zoominfo, gives 10 high-impact things to focus on to ramp up quickly. A must read for newly promoted Sales VPs and Managers...or aspiring ones!
Transitions are a critical time for leaders at all levels. Missteps made during the crucial first three months in a new role can jeopardize your success.
In this updated and expanded version of the international bestseller, Michael D. Watkins offers proven strategies for conquering the challenges of taking on a new role — no matter where you are in your career. Watkins, a noted expert on leadership transitions, also addresses today’s increasingly demanding professional landscape, where managers face more frequent changes and steeper expectations when they start their new jobs.
Whether you’re starting a new job, being promoted from within, or embarking on an overseas assignment, this is the guide you’ll need to succeed in your first 90 days — and beyond.
Managing Your Product Management CareerJeremy Horn
Slides Adrienne Tan recently used in his discussion w/ mentees of The Product Mentor.
The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People.
Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.
http://TheProductMentor.com
Chapter 2
The New Products Process
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The Procter & Gamble Cosmetics SagaStarting point: senior management commitment to new products.P&G’s Cosmetics business unit had no clear product strategy, unfocused product initiatives, and too many customer segments being targeted – in short, a lack of focus.P&G Cosmetics skillfully used all three strategic elements and made the weak business unit profitable.
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P&G Cosmetics and the PICSituation Assessment:Underserved consumer market that wanted quality facial product such as cleansers, eye products, etc.Supply chain was uncoordinated as production and shipments were not tied to demand; market forecasts were not driving shipping schedules.PIC recommended a strategic focus on products for the face – other opportunities would not be pursued.
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P&G Cosmetics and the New Products ProcessP&G Cosmetics used a phased process like that of Chapter 1.Project teams established early in process.Consumer research done early and used in the process (the voice of the customer).Tough evaluation steps were carefully implemented as new products were compared to best practices and benchmarks.
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P&G Cosmetics and the New Product PortfolioP&G Cosmetics systematically added new products such that maximum buzz and excitement was created in the marketplace.If already several eye makeup products on the market, they would not immediately launch another. Management called this an “initiative rhythm” for product launch.
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P&G Cosmetics and the Role of Effective Team ManagementSenior Cosmetics executives were committed to success as was corporate level management.Initiative Success Managers were hired to lead strategy development, manage evaluation meetings, train employees, etc.The best team leaders were sought and rewarded based on performance.
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The Phases of the New Products Process
Phase 1: Opportunity Identification/Selection
Phase 2: Concept Generation
Phase 3: Concept/Project Evaluation
Phase 4: Development
Phase 5: Launch
Figure 2.1
The Evaluation Tasks in the New Products Process
Figure 2.2
Opportunity Identification/
Selection
Concept Generation
Concept/Project Evaluation
Development
Launch
Direction;
Where should we look?
Initial Review:
Is the idea worth screening?
Full Screen:
Should we try to develop it?
Progress Reports:
Have we developed it?
Market Testing:
Should we market it?
*
Phase 1: Opportunity Identification/Selection
Active and passive generation of new product opportunities as spinouts of the ongoing business operation. New product suggestions, changes in marketing plan, resource changes, and new needs/wants in the marketplace. Research, evaluate, validate, and rank them (as opportunities, not specific product concepts). Give major ones a preliminary strategic statement to guide further work on it.
*
Activities that Feed Strategic Planning for New ProductsOngoing marketing planning (e.g., need to meet new aggressive competitor)Ongoing corporate plan ...
Just having an Idea-to-Launch process in place does not guarantee success. In this article Scott Edgett outlines the innovation capabilities that, when embraced by organizations, creates a culture of product innovation excellence. Discover how the Stage-Gate Model can break down the often complex and chaotic process of taking an idea from inception to launch into a complete, robust business process.
New Product Development was a 3-day public workshop for managers offered for many years through what is now UW-Madison’s Center for Professional and Executive Development (CPED). Since CPED has modified its mission to focus on leadership and management training, this and other marketing classes have been discontinued. Therefore I am providing this for your individual education.
A version of this presentation with embedded hyperlinks to YouTube videos and other educational sites is available through my website, BrainSnacksCafe.com.
Enjoy!
Growth Strategies Across the Product LifecyclePaul Morgan
Understanding strategies and tactics to create growth opportunities is critical to become a differentiator and enable your product to have a long and successful part in your overall company strategy. Paul Morgan & Kamal Tahir presented this deck at the Product Management, Innovation and User Experience Conference in June 2014, Chicago, IL.
As access to the internet grows globally, the number of information sources are growing exponentially. In addition, innovations driven by technology platforms such as IoT, AI, MEMS, etc. are bringing new competitors into spaces that were never considered before. Whoever thought that an automotive OEM would feel threatened by Apple or Google. This period of expansion in both information sources and technologies presents a tremendous opportunity and challenge for global corporations. Information needs to be tracked on a regular and consistent basis from various (previously ignored) sources to identify new opportunities, innovations and threats. SciTech Patent Art will share its learnings from the establishment of one such well-thought through Competitive Technology Intelligence program for a global corporation. The presenter will discuss how scope was established, approach used, learnings/refinements to make the program more useful and at the end, summarize key elements of establishing and making such a program successful. Use of tools such as Artificial Intelligence, which is playing a critical role in program sustenance, will be reviewed in the context of establishing such a cost-effective global CTI program.
[Case Study] Launching Innocent + Developing a new product for the teeth whit...Riri Kusumarani
Two chapters as group discussion. The first is about new product development for Teeth Whitening product. The second is about launching new product of Juice called Innocent. Group members : Tumenast Erdenbold,Edwin Opare and Riri Kusumarani.
2. A verifiable, metric driven analysis process
Market assessment
Pro Forma financial analysis
Concept development and demonstration
Stage gate process
Enabling technologies
Boot strapping
Technology roadmap
Product planning
Partnering
IP management strategy
Implementation roadmap
Integrated product team
3. You have to have clear metrics to know where you are going
◦ Strategic financial and growth goals
Clearly articulated market needs
◦ Meet the potential customer - use the “Tuned In” process with a quantitative
assessment1
Pro forma financial estimate for potential opportunities
Resource needs for early stage product realization
Identify partners to co-invest for later stage go-to-market push
A solid means of protecting the position once gained (e.g. IP, specialized
facilities, trade secret processes or other barriers to entry)
1”Tuned In: Uncover Extraordinary Opportunities That Lead To
Business Breakthrough”; Wiley 2008
4. Get eyeball-to-eyeball with potential customers as soon and as much
as possible
Carefully ask the right questions (qualitative and quantitative):
◦ What are the jobs the customer is trying to get done?
◦ Is the problem “urgent” and why/how so?
◦ Is the problem “pervasive”, does it cross multiple user personas?
◦ What is the impact of your solution relative to your nearest competitors?
Provides key insight into value pricing
◦ What is the key message to form strong bonds with potential customers?
Draft the Business Plan based on the available information
5. Estimate costs for R&D, transition to production, marketing,
distribution and sustainment
Estimate revenue from sales and service
Determine Net Present Value (NPV) per year to determine breakeven
point (time horizon)
◦ Business volume may come up slowly, but profitability needs to be there from
the beginning or else there is a cost structure versus pricing mismatch
Conduct sensitivity study to determine robustness of the assumptions
6. Concept Development
◦ Small R&D investments to explore technology feasibility – “make failure
survivable”
Concept Demonstration
◦ Reduction to practice to secure basic IP rights
Prototype Demonstration
◦ Demonstration of a prototype that early adopters can use is huge
◦ Capturing feedback is also very important, and used to adjust the market
assessment and development plan
7. Stage gates based on progressively achieving the metrics as described:
◦ Stage 1:
Gaps and buyer pain points identified, obtain funding for possible enabling
technology or prototype, articulated path to market
◦ Stage 2:
Demonstrated Enabling Technology, IP or other barriers to entry in place, Partner
companies identified and being engaged on product planning and market assessment,
R&D funding used to continue toward a specific product or mature the Enabling
Technology, has draft Business Plan, draft Product Plan for possible up grades in the
technology
◦ Stage 3:
Demonstrated Product in mature prototype form, Partner companies are co-investing
or sole-investing to bring product to the market, beta-testing of the product in the
market has occurred, certifications (if required) have occurred, transition to
production is occurring, Product Plan is matured
◦ Stage 4:
Product is in full rate production, spiral upgrades are articulated in the Product Plan
but constantly updated by market assessment and user feedback
Don’t get disrupted by ignoring adjacent markets and small competitors (Innovator’s
Dilemma)
8. These are key technologies, sub-systems or capabilities that can be used in
multiple product offerings
A few examples of Enabling Technologies:
◦ Advanced materials – corrosion resistance, drug delivery, membrane technology
◦ Sustainable systems – energy harvesting, low power signal analytics and actuation
◦ Data analytics – smart systems, IoT, self-diagnostic products, predictive maintenance
◦ Advanced prototyping and validation processes – reduced product development
cost/time
◦ Software operating system – integration of product functionality, data collection and
response
These are key focal points that:
◦ Broaden market opportunities
◦ Increase fields of use of IP and infrastructure investments
◦ Increases your value to partners
◦ Spreads investment risk across several products
9. …or “make it work with what you’ve got”
◦ There is only so much risk capital to go around
Near term technology or capability demo to jump start a market
assessment with early adopters
Provides early feedback on market conditions, product
requirements, cost structure and profitability
Drives changes to product plan and stage gate structure
10. A visual aid to communicate high-level plans regarding
anticipated/suggested technology changes to address changing
requirements
Identify the main sub-systems and components
Map the anticipated changes in critical technologies across time and
product upgrades’
System
Sub-system
or
key components
Changes in requirements/markets
Typical Themes:
Increase energy efficiency
Decrease in production cost
Increase in functionality
Increase in reliability
11. Product planning is foremost driven by market needs and company
financial goals
The Product Plan will need to answer these questions:
◦ What product development projects will be undertaken?
◦ What mix of new products, spiral upgrades and enabling technologies should we
pursue immediately and every year thereafter?
◦ How do the various products relate to each other?
◦ What will be the timing and sequence of each product?
The answers to these questions should be driven primarily from:
◦ The comparison of the respective pro forma for each product
◦ Their combined pro forma rolled together
◦ Enabling technology availability and projections
Product
Upgrades
and
Generations
Changes in markets/financial goals
Typical Upgrade Themes:
Changed customer demand
Enhanced enabling technology
Typical Generation Themes:
Competitive landscape
Cost structure
Adjacent market strategy
12. Often companies need to share the risks of new growth product development
Partnering can be a great way to multiply your capital and dilute risk
◦ Upside: you can get more brains, money and muscle on the problem
◦ Downside: divides the pie; relationship management is critical
Partnering can take many forms:
◦ Co-investment (co-funding)
◦ Value-sharing (providing supporting materials or components)
◦ Joint efforts (self-paying team)
Partners can provide critical insight into the market assessment, as well as
development, production, distribution, sales, and service for the product
High priority partners should be sought who may be interested in teaming on
multiple products
Partner relationships must be carefully constructed, assessed and maintained
◦ Leverage: holding key IP is an important safeguard in partnering
◦ “At the end of the day, you have to do business with people you trust”
13. IP should be:
◦ Considered like any other property (sell, buy, rent, trade, protect, etc)
◦ Organized in an inventory that clears shows the protection status and action
items of the individual IP
The income from IP needs to be worth the cost of litigation to protect it
When considering licensing note that it normally provides (at best) only
10% of the value of the product
◦ At least 90% of the value is realized by the product producer
◦ How does the 10% value realized compare to the NPV of the R&D, marketing
and IP investments to achieve it?
14. If you do not have Product Management discipline in place today:
First – Figure out where you are
◦ Identify products and enabling technologies that are currently in process
◦ Establish their status in the stage gates
◦ Implement the IPT for those that are the most mature or time sensitive first
Develop pro forma
Identify key internal and external stakeholders
Establish product plan
Second – Project where you want to go
◦ Technical – Identify gaps and unmet needs in the market
◦ Business – Benefit to community, BV and profit growth
Third – Develop the Product Plan to reach these goals
◦ Needs to be a feedback loop between the Product Plan, plans for individual
products, and the goals
Then start product development process to identify new candidate
enabling technologies and planning
15. Products developed in a vacuum will fail
To ensure that the product lifecycle is successful stakeholders must be
brought together on integrated product teams
Normally will involve nearly every part of the business
◦ Technical development
◦ Business development
◦ Supply chain
◦ Finance
◦ Business strategy
Product Manager is responsible for meeting the metrics of the pipeline:
founding product vision, financial goals, ownership of stage gate
process, development of product plan, product value positioning and
partner relationships