Market Problem Matrix - PCATX13 Presentation

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Product managers need to be market driven. When you're being driven by customers, problems, and competitors, you need a tool which brings all of your insights together to help drive holistic decision making. I use a Market Problem Matrix to create that view to develop insights and drive conversations.

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  • Been slowly building a map of “why products fail” for a few years
    Market problem matrix helps with minimizing / mitigating a few key risks
    Some of which are a function of not being aligned with your market
  • Could be size of market, alignment with other portfolio products, barriers to entry, convenience of geography, product-market fit, commercial viability ….
  • And no one cares if your product is also “pretty good” for someone else – it needs to be their best choice, or they won’t take it.
  • We would win customer group C -> our strategic goal
    Competitor 3 would win customer group A
    Competitor 2 would win with customer group B
    Competitor 1 would lose everywhere – they invested in capability III which didn’t matter to anyone
  • Market Problem Matrix - PCATX13 Presentation

    1. 1. Market Problem Matrix A tool I use to be more market driven
    2. 2. Scott Sehlhorst Product management & strategy consultant 8 Years electromechanical design engineering IBM, Texas Instruments, Eaton 7 Years software development & requirements > 20 clients in Telecom, Computer HW, Heavy Eq., Consumer Durables 9 Years product management consulting >20 clients in B2B, B2C, B2B2C, ecommerce, global, mobile Agile since 2001 Started Tyner Blain in 2005 Helping companies Build the right thing, right tynerblain.com/blog/ @sehlhorst if you’re into that sort of thing
    3. 3. Failure Mode Risk Map http://www.slideshare.net/ssehlhorst /20130322why-do-products-fail-isa
    4. 4. Market Driven Product Management Building a strategy & planning a product based on… To whom should we be selling What is important to them How good we are and how good we will be How good will the competition is and will be
    5. 5. Market Problem Matrix A tool which is the evolution of, and repurposing of the old Harvey ball charts we’ve seen for years.
    6. 6. Start with a Harvey Ball Chart Harvey balls are coarse I like a 1-10 Scale
    7. 7. Inform Decisions, Don’t Keep Score Where we are today is mildly interesting Where we expect to be after the roadmap is executed is very interesting
    8. 8. Beauty, In The Beholder’s Eye Who are our target customers? And how much does each group care about each capability?
    9. 9. We Could Just Stop Here And be better than most teams I’ve seen:  Accountability in roadmap  Plan based on future competitive landscape  Acknowledge that all customers are different But let’s keep going anyway…
    10. 10. Important Customers Some markets are more important* than others *to successfully executing a particular strategy
    11. 11. Time To Choose Can you try and “win” for a single customer group? Or are you forced to try and “focus on everyone” because every customer has a champion? *Hint: you meet your sales forecast by closing one deal at a time
    12. 12. If You Are Fortunate You have a single customer group, and you are able to focus on what matters most to them
    13. 13. If You Are in a Typical Company You have to try and be all things to all people. You also have to bias towards the most important customers. Here’s some “fake math” to help tell the story 1. Multiply the “importance of customer” value with the “importance to customer” values. 2. Add them up, to get a normalized “importance of capability” measure
    14. 14. 1. Multiplying The “math” should bias towards investment in the capabilities of greatest interest to the most important customers
    15. 15. 2. Normalizing Does the bulk of your investment (by capability) match the importance (by capability) to your market?
    16. 16. Market Problem Matrix We now are looking at the following things at the same time:  Which customers are important  What those customers care about  Expected future competitive position
    17. 17. Thanks very much! @sehlhorst

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