Webinar on "What we should know to Ask" The Art of Product management

Anubhav Sinha | Product Owner | Agile Learner
via

Anubhav Sinha | Product Owner | Agile Learner and Doer
What we should
know to ASK!
Date: July 08, 2017
via

“Success is not a
doorway, it’s a staircase”
- Dottie Walters

How this webinar is Designed:
*All information shared are learning, views, and experience gained by the speaker. Please feel free to have interactive question session or can be done as per time
or may be later using google drive or whatsapp group mode etc.
❏ Not to talk about Agile Scrum or talk about
any agile canopy
❏ Not to talk about ‘how’ as we all know and
practice well in real time engagements
❏ to get info about - WHAT TO ASK
❏ Flow of talk will help audience to correlate
with HOW for their working engagement
❏ Correlate with B2B and B2C model
❏ Product management refers to Software Product Management

Flow of the slide deck
History Brief
How we see Product
Management?
What exactly PM is
about
How we sail our
journey
Measures to reach
1
2
3
4
5

Presentation Overview
Brief
via

Presentation Overview
Brief
Our webinar will help us to
reach !!

Brief
we will quickly walk through this section

History of Product Management
1980s - new thoughts
1990s - new concepts

Before we move ahead, let’s
have a look on history of
product development

History and Evolution
1930
Until 1920s:

Inventors and Geniuses
Developed Products, they had
product and vision with TRIAL
& ERROR experiments
In this era, mainly innovations
and product development where
by Individual Contribution only
Most products were not driven
by consumer needs
1930
Until 1920s:

Until 1920s:
by consumer needs
1930
P&G started focusing on Product Market issues and root
causes, implement awareness to RCs and identify solutions
& ERROR experiments

Until 1920s:
& ERROR experiments
by consumer needs
1930
In 1930s, First Time, new business
Technique “Brand Management”
was created
P&G started focusing on Product Market issues and root
causes, implement awareness to RCs and identify solutions

❏ In 1980s: Intuit started to use field studies

A Financial Software company founded by Scott Cook, a former
P&G PR employee, whose prior work at Procter & Gamble helped
him realize that personal computers would lend themselves
towards replacements for paper-and-pencil based personal
accounting.

A Financial Software company founded by Scott Cook, a former
P&G PR employee, whose prior work at Procter & Gamble helped
him realize that personal computers would lend themselves
towards replacements for paper-and-pencil based personal
accounting.
Intuit was one of the earliest company to apply
Brand Management in a software hi-tech company

❏ In 1990s: An article published by ‘Regis McKeena’, a
consultant wrote an article “Marketing is
Everything” in the year 1991, said that a Marketing
Person must be an integrator

❏ In 1990s: An article published by ‘Regis McKeena’, a
consultant wrote an article “Marketing is Everything” in
the year 1991, said that a Marketing Person must be an
integrator
❏ In 1990s: The role of product manager emerged to
integrate Business, Customer and Technical
know-how.
a Technology and
Marketing consultant

❏ In 1990s: Finding the ‘Product Market Fit’ was
envisioned and identified by ‘Regis McKeena’

❏ In 1991: concept came - Work with Customer,
New Product Development, Production Team
and identify new market segment

❏ In 1991: concept came - Work with Customer,
New Product Development, Production Team
and identify new market segment
❏ First time - Customers and Partners was
introduced to work for Sales & Profits

Let’s Consolidate
❏ Historically, Product management were done by Inventors and
Geniuses
❏ Later, due to Technology complexity and competition, product
development became more focused and organized
❏ Companies were forced to better understand ‘what a
customer need is’
❏ P&G was the 1st company to work with problem, market need,
perform RCA to improvise product and take corrective actions
❏ 1980s - Intuit was the first financial tech company to work with
field studies
❏ In 1990s - Product Market Fit, Work with customers and
Partners comes in frame

Let’s see now on Product
Management
via

What is Product Management
An organizational function within a
company dealing with the
planning, forecasting, and
production or marketing of
a products at all stages of the product
life cycle.

One side of the
coin
Another side
of
the
coin

Let’s now look for what part

2 Sides of Coin in
Product Management

2 sides of the same coin
❏ Innovation starts with
discovery
❏ Ideation comes only after
the problem or opportunity
is well understood
❏ Experimentation to be cost
effective and quick
❏ It’s a series of divergence
and convergence steps
❏ It’s an Iterative process
Innovation
Process Model

Let’s see
Whose Area & Who does
WHAT
via

We have identified our
area of talk which will
assist us to identify
How n WHAT for real
engagements

Let’s start to understand
Tools, Techniques
and Best Approach
for product management
via

What we extract out of Golden Circle

Let’s see
Product Management
Framework
via

Let’s visualize Product
Management using
Iceberg

Let’s understand
Business Model
Inception
via

Business Model Inception (B2C)

Business Model Inception (B2B2C)

Business Model Inception (B2B)

What we do in
Product Discovery
Workshops

Product Discovery Participants

What (refer to golden
circle)
pitch to get Why?
(refer to Golden Circle)

we miss to focus on other area
as - problem, users, needs, and
flow should be outwards

Let’s focus on other area as -
problem, users, needs, and
flow should be outwards

What we try to get out !
Understanding, need, want

Identify High Level Thoughts !

Sample way - identify Target Segment

What is Value Proposition
Describe the benefits customers can expect
from your products or services.

How we can identify Value Proposition

Let’s see how to identify
Product Vision
via

Paper conceptualization
Low fidelity Prototype
High Fidelity prototype
Mock-up
Wireframes

Example - Who is
the customer of a
children book?

Let’s take an example of B2B
Enterprise
Product

Let’s take an example of B2C
and B2B2C
Product
Development

OYO ROOMS (as product) Persona
Different Users
Different Platforms
Different business model

ZOHO - User Persona
Different Product Line
Different Platforms
Different business model
Different User and Personas

Flipkart - B2C model
Online Platform is a B2C portal which provides shopping
experience-opportunities to the Indian consumers
○ Flipkart website
○ The web app
○ The mobile app
○ Social websites
○ Affiliated networks like review websites, coupon websites, bloggers, etc.
The various options for selling and buying through Flipkart are through:

How we define and work to identify
User Persona

We should start with 3-5
User Persona

Let’s have a look on floating jargons
MVP, MVE,
MVF, MLP

What is MVP
Wikipedia says “In product development, the Minimum Viable
Product (MVP) is a product with just enough
features to satisfy early customers and to receive
feedback about the product and its continued
development.”

What is MVP
“We have $5 million in funding and we have one try to get it right!
How can you guarantee we won’t fail?
Well, figuring out a Minimum Viable Product (MVP) is a great
place to start. But how do we create a good MVP? And why MVPs?
What “Viable” Means

what has to be for
Minimum Viable

on a personal note and exp.
MVP is dead
now we have
MVE

What is MVE
The minimum viable experience (MVE) is a product which has
complete customer journeys.It is task orientated
and enables customers to start and complete a full
process.

What is MVE
The minimum viable experience (MVE) is a product which has complete
customer journeys. It is task orientated and enables customers to start and
complete a full process.

What is MVE
The minimum viable experience (MVE) is a product which has complete
customer journeys. It is task orientated and enables customers to start and
complete a full process.
A problem has been
identified and a basic
way is done to solve
current problem with
early entry, learning
and validation
MVP is already present,
but we need a complete
customer journey, as
to-n-fro along with more
needs

what is
MLP
We will keep this ‘on-hold’

Let’s have a look on
Prioritization
Techniques

Kano Model
Kano Model, a paper was published and introduced in 1984, by Noriaki Kano,
with a set of ideas and techniques that help us determine our customers (and
prospects) satisfaction with product features.

Kano Model
Kano Model, a paper was published and introduced in 1984, by Noriaki Kano, with a set of ideas and techniques that help
us determine our customers (and prospects) satisfaction with product features.

Kano Model
Must be: product features are simply expected by
customers. If the product doesn’t have them, it will
be considered to be incomplete or just plain bad.
This type of features is usually called Must-be or
Basic Expectations.
Performance: product features behave as what we
might intuitively think that Satisfaction works: the
more we provide, the more satisfied our customers
become.
Attractive: There are unexpected features which,
when presented, cause a positive reaction. These
are usually called Attractive / Exciters / Delighters.
These falls for MLP.
Indifferent: Those features whose presence (or
absence) doesn’t make a real difference in our
reaction towards the product.

Kano Model
Must be: product features are simply expected by
customers. If the product doesn’t have them, it will
be considered to be incomplete or just plain bad.
This type of features is usually called Must-be or
Basic Expectations.
Performance: product features behave as what we
might intuitively think that Satisfaction works: the
more we provide, the more satisfied our customers
become.
Attractive: There are unexpected features which,
when presented, cause a positive reaction. These
are usually called Attractive / Exciters / Delighters.
These falls for MLP.
Indifferent: Those features whose presence (or
absence) doesn’t make a real difference in our
reaction towards the product.
examples - Confluence survey, Jira Survey,LinkedIn Survey,
OLA survey, OLA survey at trip end etc.

Prune the Product Tree
https://www.prodpad.com/blog/product-tree-game/

Scorecard
Goal is to prioritize feature over a set of criteria that have been
negotiated with stakeholders and keep evolving.
❏ Start with a clear strategy that has been validated by user
❏ Select the features that are most relevant and related to
overall vision-strategy
❏ Define a criteria and weights for scoring (keep evolving)
❏ Meet with stakeholders and fine tune criteria and weights

Classification Ranking
Feature Category Rank Total
The process is simple: each feature is classified into some category, and
then a ranking is produced. Categories must be sortable in some way, e.g.
1-2-3-4-5, High-Medium-Low.

Feature Bucket
The Feature Buckets technique by Adam Nash is also very popular.
Adam believes that feature prioritization varies a lot across different product types and industries and
that’s why he emphasizes that this technique was thought specifically for consumer internet products.

Feature Bucket
Metric
Movers
Customer
Requests
Delights Strategic

Feature Bucket
Metric
Movers
Customer
Requests
Delights Strategic
Features that are
included for strategic
reasons
These are features that
have been requested
directly by customers. They
are usually incremental
enhancements, but it’s
important to consider them.
Features that will move the
target business and product
metrics significantly.
ex - AARRR
Innovative features that are
internally generated based
on insights in design or
technology. (refer to Kano
model)

Key Takeaways
❏ Prioritize at High Level
❏ Set goals, measure and adjust
❏ Don’t do it alone
❏ Quantitative vs. Qualitative
❏ External vs. Internal

Key Takeaways
❏ Prioritize at High Level
❏ Set goals, measure and adjust
❏ Don’t do it alone
❏ Quantitative vs. Qualitative
❏ External vs. Internal scale goes something like this: You < Team < Stakeholders <
Customers < Business
Know what you’re getting out of the method and
when to use it. These things are tools, not
oracles.
Prioritization should not be a solo effort.
The objective is not to set priorities
and ship them. The objective is to
constantly be aware if what we’re doing
is really adding value and working out
as expected; when it’s not, we will at
least have some clues as to what
needs adjustment.
all prioritization methods work with
high-level features (themes) and user
goals

Let’s have a look on metrics
What we want to
measure !

What to measure - B2B
❏ Time to activation - How long does it take for end-users to start using
your solution
❏ Frequency of use - How often do they use the solution? Are there period
of high activity
❏ Length of use - How much time do they spend using the solution? Are
used logged in for full day?
❏ Task of completion - what is the main task, is it completed or not? How
easy is it to completed the other task?
❏ Support Request - How many email requests, support request, new
feature request received? How many support calls generated? Does it
vary by user group?
❏ Feature Request w.r.t. business needs - internal or external request
❏ Availability - is solution available for all time?
❏ Feature usage - Are there features that are not being used (refer to 1st
slide with remote)

What to measure - B2C
Marketing
Customer Success
and Product
Engagement
Business Success

Are we measuring right things?
❏ Monthly Unique visitors
❏ CAQ (customer acq.
cost)
❏ Organic Traffic vs. Paid
Traffic
❏ Product Usage /
adoption (sign-in freq,
sharing etc.)
❏ % of users who perform
similar actions
❏ % of users who perform
specific actions
❏ Feature usage (usage
vs. other features)
❏ Retention rate
❏ Quality (defects, iWish)
❏ Support ticket vs. closed
❏ Active users
❏ LTV (lifetime value)
❏ MRR (monthly recurring
revenue)
❏ ARR (annual recurring
revenue)
❏ ARU (average revenue
per user)
❏ Conversion (site lead to
conversion)
❏ ACV (annual contract
value), ex -
amazon-prime
Marketing
Customer Success
and Product
Engagement
Business Success

Are we measuring right things?

How to identify MLP
work with The Golden
Circle approach
roll-out to market

Let’s view Learning and Trend
What more we
can measure !

‘Measure your
PRODUCT
PERFORMANCE, not
your product
management’

“In a boxing game, Defeat is
not declared when one fall
down, it’s declared only
when One fails to get up”
- No one can defeat oneself, except himself / herself !
Conclude thought:

Webinar on "What we should know to Ask" The Art of Product management

Webinar on "What we should know to Ask" The Art of Product management

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