Learn How To Manage Strategically Product Plan: Part I - Analysis. By Wayne Chen @MobiWayne. Pocket Square Media.

1. Series:
How
To
Be
A
Rock
Star
Product
Manager
By:
Wayne
Chen,
@MobiWayne
© 2013!
@POCKETSQRMEDIA | POCKETSQUAREMEDIA.CO!

2. ¡
¡
¡
One
of
the
primary
planning
documents
or
tools
that
the
product
manager
develops
with
others
in
the
company
is
the
annual
marketing
plan
for
the
product
line
The
planning
process
starts
with
an
examination
of
current
conditions
to
search
for
problems
and
opportunities
for
the
product(s)
Once
problems
and
opportunities
are
identified
and
synthesized,
a
statement
of
direction
for
the
next
fiscal
year
is
provided
through
sales
and
marketing
objectives
© 2013 POCKET SQUARE MEDIA!
¡
¡
An
action
program
is
created
that
clarifies
the
strategies
and
tactics
required
to
achieve
the
stated
objectives
These
strategies
and
tactics
might
encompass
all
of
the
traditional
components
of
marketing,
including:
§
§
§
§
§
Target
market
refinement
Product
changes
/
deletions
Pricing
modifications
Expansion/contraction
or
changes
among
distributors
or
retailers
Updating
marketing
communication
approaches
@MOBIWAYNE!

3. Marketing
is
too
important
to
be
left
to
the
marketing
department
© 2013 POCKET SQUARE MEDIA!
David
Packard,
Founder
off
Hewlett-­‐Packard
@MOBIWAYNE!

4. ¡
¡
¡
¡
Marketing
is
about
building
a
business
around
satisfying
current
and
future
market
needs
Product
managers
play
a
critical
role
in
the
development
and
execution
of
annual
marketing
plan
for
their
products
or
product
lines
Customers
form
impressions
about
the
company
beyond
the
product
quality
delivered
Customers
want
a
product
that
addresses
their
needs,
purchase
at
a
fair
value,
while
having
a
positive
buying
experience
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

5. Where
do
you
want
to
be?
• Synthesis
Where
are
you
today?
How
can
you
get
there?
• Current
background
analysis
• Action
program
The
Planning
Fundamental
Questions
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

6. PART
I
WHERE
ARE
YOU
TODAY?
BACKGROUND
ANALYSIS
© 2013!
@POCKETSQRMEDIA | POCKETSQUAREMEDIA.CO!

7. ¡ Is
the
analytical
Business
Assessment
Market
Analysis
Trend
&
Tech
Background
Analysis
Performance
History
© 2013 POCKET SQUARE MEDIA!
portion
of
the
planning
process
that
should
happen
before
the
development
of
the
product
plan
Competitive
Analysis
@MOBIWAYNE!

8. ¡
¡
¡
Determines
the
vision
and
strategy
of
the
overall
company
Visualizes
what
the
company
will
be
in
the
future
with
the
product
offer
and
market
focus
Must
be
consistent
with
overall
company
vision
and
strategy,
should
align
winning
customer
satisfaction
© 2013 POCKET SQUARE MEDIA!
¡
Assessment
guide
§ Describe
the
company
vision,
strategies
and
core
competencies
that
might
impact
the
product
programs
§ List
the
strengthens/
weaknesses
of
the
company
that
impacts
new
product/line
§ Describes
the
role
the
you
play
in
accomplishing
the
corporate
strategy
@MOBIWAYNE!

9. Management
Who
are
the
movers
and
shakers
of
the
company?
Who
should
be
part
of
a
new-­‐product
venture?
Who
is
owns
the
budget?
Does
company
have
unique
business
practices
different
from
the
competition?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

10. Competencies
© 2013 POCKET SQUARE MEDIA!
What
capabilities
are
the
core
of
the
firm’s
reason
for
being
today?
Are
the
various
products
today
leveraging
these
competencies
effectively
or
efficiently?
How
can
product
managers
leverage
the
capabilities
of
other
parts
of
the
company?
@MOBIWAYNE!

11. Planning
What
is
the
basic
approach
to
tactical
and
strategic
planning
today?
What
are
the
plans
for
global
or
international
growth?
What
significant
new
products
are
under
development?
To
what
extent
are
documented
objectives
used
in
planning
today?
Company’s
grow
through
acquisition,
penetration
of
new
markets,
or
increased
market
share?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

12. Functional
How
is
research
and
development
organized?
What
is
the
major
research
and
development
trust?
Does
the
company
have
available
resources,
time
and
budget?
What
is
the
background
of
the
R&D
manager
or
team?
How
is
product
planning
prioritize?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

13. ¡
¡
Reviews
the
current/
potential
customers
for
a
product/line,
groups
by
demographics,
needs
and
use
cases
Breaks
demographic
into
subgroups
to
improve
understanding
and
benefits
they
look
for
to
improve
overall
competitive
edges
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

14. Geography
Family
size
Company
Size
Family
life-­‐cycle
B2B
Industry
Income
Consumer
Age,
sex,
race
Functional
Decision
Makers
Location
Profitability
Lifestyle
Risk
Categories
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

15. Application
Importance
of
purchase
Size
of
purchase
How
product
is
used
B2B
Consumer
Frequency
of
purchase
Volume
Frequency
of
purchase
Product
support
Ability
to
purchase
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

16. Product
desirability
Consumer
psychology
B2B
Consumer
Performance
requirements
Support
service
Desired
features
Level
of
need
Service
requirements
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

17. ¡ Competitive
intelligence
is
key
part
of
a
product
manager’s
job
¡ Is
a
summary
of
information
compiled
from
published,
internal,
and
customer
conversations
¡ Must
analyze
data
both
from
projected,
current,
and
past
trends
¡ Enables
product
manager
to
develop
assumptions,
competitive
marketing
strategies
to
refine
future
growth
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

18. Division:
Group:
Product
Line:
Market:
Owner:
Date:
My
Product
Product
A
Product
C
Product
D
Product
B
Sales
Volume
Revenues
Target
Market(s)
Profit
Product
Strategy
Customer
Image
Average
List
Price
Promotion
Strategy
Distribution
Strategy
Sales
Force
Sales
Strengthens
Market
SPOCKET SQUARE MEDIA!
© 2013 hare
@MOBIWAYNE!

19. What
are
the
list
prices
of
the
competing
products?
Actual
prices?
(This
is
the
competition
from
the
customer’s
perspective.)
What
is
the
market
perception
of
the
competing
products?
Awareness
level?
Customer
loyalty?
Where
(in
what
regions,
applications,
industries,
etc.)
is
competition
the
strongest?
Why?
What
are
the
corporate
competencies
of
the
companies
that
own
competing
products?
What
is
the
relationship
between
the
competencies
and
the
products?
© 2013 POCKET SQUARE MEDIA!
Competing
Competitors
To
which
competitors
have
you
lost
business
and
from
which
have
you
gained
business?
Is
the
competing
product
a
small
percentage
of
its
company’s
business,
or
is
it
the
main
product
of
the
company?
How
important
are
the
sales
to
the
competitor,
and
how
much
is
the
company
willing
to
invest
to
protect
these
sales?
Are
there
any
specific
product
features
that
are
“best-­‐in-­‐class,”
against
which
your
product
should
be
benchmarked?
@MOBIWAYNE!

20. ¡
¡
© 2013 POCKET SQUARE MEDIA!
Allows
the
product
manager
to
look
at
how
well
a
product
performed
over
time
and
relative
to
its
planned
lifecycle
Focuses
attention
on
the
market
share,
financial
and
other
statistical
indicators
of
performance
@MOBIWAYNE!

21. Division:
Group:
Product
Line:
Market:
Owner:
Date:
My
Product
Product
A
Product
C
Product
D
Product
B
Industry
Volume
Your
Volume
%
of
industry
volume
Industry
Sales
Your
Sales
%
of
Industry
Sales
Product
Sales
as
%
percentage
of
company
sales
COGS
Quality
Index
New
Product
Sales
Price
Index
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

22. Is
there
a
group
of
heavy
users
of
the
product(s)?
What
percentage
of
the
purchasers
do
they
constitute?
Customers
Is
the
primary
target
market
growing,
stable,
or
declining?
Under
what
circumstances
do
customers
purchase
the
product(s)?
How
and
why
is
geographical
coverage
limited?
What
percentage
of
customers
are
national
accounts?
International?
Are
most
customers
new
or
repeat
buyers?
Are
the
customers
the
end-­‐users?
If
not,
what
information
is
available
about
the
end-­‐user?
How
sensitive
have
customers
been
to
past
price
changes?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

23. What
does
each
item
in
the
product
line
contribute
to
sales
and
profits?
What
does
the
name
of
the
product
imply?
Can
it
be
branded?
Which
of
the
features
are
distinguishable
by
the
customer?
Identify
the
benefits
from
the
customer’s
point
of
view.
How
would
customers
rate
the
product
from
1-­‐10?
© 2013 POCKET SQUARE MEDIA!
Product
Product
To
customer
satisfaction?
Can
some
of
the
products
be
pruned?
How
does
the
product
line
rate
of
return
compare
with
company’s
overall
rate
of
return?
What
are
the
engineering
costs
for
product
development,
product
engineering,
and
design?
What
is
the
unit
break-­‐even
sales
for
the
product?
@MOBIWAYNE!

24. Sales
Force
Is
the
current
sales
force
structure
appropriate
for
achieving
the
product
objectives?
Are
the
target
customers
being
reached
in
the
most
effective
manner?
How
effective
has
the
product/sales
training
been?
What
sales
tools
do
the
salespeople
actually
use
to
sell
the
product?
Has
the
sales
force
been
taught
how
to
help
customers
visualize
the
benefits
of
the
product?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

25. Have
significant
amounts
of
business
been
lost
because
of
product
prices?
Value
Are
errors
frequently
made
in
pricing?
What
is
the
perceived
cost
of
buying
the
product/service?
Is
the
company
a
price
leader
or
a
price
follower?
What
is
the
pricing
policy
of
the
company?
What
types
of
discounts
are
offered?
How
does
that
compare
with
the
competition?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

26. What
is
the
current
image
customers
have
of
the
product?
Is
it
consistent
with
the
advertising?
Did
prior
advertising
strategies
work?
Why
or
why
not?
What
non-­‐advertising
promotion
has
been
tried?
How
well
did
it
work?
Distribution
Promotion
What
is
the
company’s
relationship
with
intermediaries
(e.g.,
distributors,
agents,
retailers,
etc.)?
What
are
the
channels
of
distribution?
What
percentage
of
the
product
sales
are
through
each
type
of
intermediary?
What
are
distribution
costs
as
a
percentage
of
sales?
How
does
the
company’s
policy
for
distributor/
retailer
margins
compare
with
those
of
the
competition?
What
has
been
the
recent
history
of
stock-­‐outs,
substitutes,
and
back
orders?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

27. Dynamics
What
tech
changes
are
likely?
How
might
they
impact
product
sales
within
the
next
several
years?
What
leading
indicators
correspond
with
product
sales?
What
are
the
basic
trends
and
changes
in
the
economy?
Are
there
regulatory
or
political
forces
that
could
impact
product
sales.
What
is
the
probability
of
the
above
trends
occurring?
What
impact
do
these
have
on
the
product(s)?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

28. ¡
¡
¡
¡
¡
Begin
the
annual
planning
process
by
assessing
the
current
status
of
your
product
and
your
company
Look
for
problems
to
address
during
the
next
fiscal
year
as
well
as
opportunities
to
capitalize
Do
your
best
to
predict
the
future
based
on
current
trends
Will
regulatory
forces
impact
your
product
design
and
positioning?
Challenge
the
way
you
look
at
your
customers
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

29. © 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

30. Problems
and
opportunities
Positioning
strategy
II.
Synthesis
Sales
forecast
&
goals
Product
&
product
lines
objectives
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

31. Summary
of
background
analysis
&
synthesis
Performance
&
Tracking
Strategy
Target
Market
Strategy
Sales
&
Distribution
Strategy
Product
&
Growth
Strategy
Action
Program
Budget
&
Forecast
Strategy
Development
&
Testing
Strategy
Branding
&
Advertising
Strategy
© 2013 POCKET SQUARE MEDIA!
Pricing
&
Message
Strategy
@MOBIWAYNE!

32. Contact
information
¡ Wayne
Chen
¡ Wayne@PocketSquareMedia.co
¡ @MobiWayne
or
@WayneChenNY
¡ www.PocketSquareMedia.co
¡ Blog:
www.Enovaminds.com
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!