Creating a Product Strategy to Drive Your Company’s Revenue Growth - ProductCamp DC - H. Del...
47
© AIPMM 2012 Hector Del Castillo linkd.in/hdelcastillo May 5, 2012
-
Upload
hector-del-castillo -
Category
Business
-
view
809 -
download
3
description
Introduction The creation of successful products is essential for companies that want to grow or maintain a competitive advantage. Many organizations lack a clearly defined and understood product strategy. We will discuss the importance of the AIPMM Product Management Framework (PMF) to define and implement a process to conceive, plan and market your company’s products at each stage of their life cycle. We will identify key activities to align business and product strategy with unmet customer needs to create value for your business. We will describe the typical product life cycle from concept to launch and through product retirement. We will also discuss why growing organizations need to implement a formal product management process to support their product strategy. Key Points: * Why do you need to define a product strategy for your company? * What are the benefits of implementing a product planning process? * What do you need to create successful products consistently? Connect with me at http:/linkd.in/hdelcastillo for more information regarding AIPMM membership or certification courses in your area. Let me know how I can help you create and implement a product strategy and product planning process successfully to grow your technology-based business.
Transcript of Creating a Product Strategy to Drive Your Company’s Revenue Growth - ProductCamp DC - H. Del...
© AIPMM 2012
Thank You to Our Sponsors
2
© AIPMM 2012
Tweet About Us!
Hector: @hmdelcastillo
AIPMM: @aipmm
ProdMgmtTalk: @ProdMgmtTalk
PCampDC: @PCampDC
© AIPMM 2012
Hector Del Castillo • Over 10 years transforming products to profit for technology-based
companies • AIPMM Body of Knowledge (ProdBOK®) Contributor • Established companies
– Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies
• Small companies and startups – Nextone Communications, Smith Micro Software
• Launched 27+ Products for global deployment – HW/SW, Telecom, Enterprise Mobility, Information Security Services, Professional
Development
• Certified PMP®, CPM® and CPMM® • University of California at Santa Barbara, MS EE • University of Texas at El Paso, MS EE, BS EE
© AIPMM 2012
© AIPMM 2012
© AIPMM 2012
AIPMM Certifications
Source: Get Certified, AIPMM Website
Certified Product Manager (CPM®)
Certified Product Marketing Manager (CPMM®)
Agile Certified Product Manager (ACPM®)
© AIPMM 2012
What We Will Discuss
1. What is Product Strategy?
2. Why Your Company Needs It
3. Implementing A Product Strategy
4. Key Takeaways
© AIPMM 2012
What is Product Strategy?
Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001
”Product strategy begins with
a strategic vision that states
where a company wants to
go, how it will get there, and
why it will be successful.”
© AIPMM 2012
”Product strategy is like a
roadmap. It’s useful only when
you know where you are and
where you want to go.”
Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001
© AIPMM 2012
Fortune’s Most Admired Companies Rank Company Industry
Rank
Industry
1 Apple 1 Computers
2 Google 1 Internet Services & Retailing
3 Amazon.com 2 Internet Services & Retailing
4 Coca-Cola 1 Beverages
5 IBM 1 IT Services
6 FedEx 2 Delivery
7 Berkshire Hathaway 1 Property and Casualty
8 Starbucks Coffee 2 Food Services
9 Procter & Gamble 1 Soaps and Cosmetics
10 Southwest Airlines 3 Airlines
Source: FORTUNE Magazine, 19 Mar 2012
© AIPMM 2012
TIPS FOR IMPLEMENTING A PRODUCT STRATEGY SUCCESSFULLY
© AIPMM 2012
1. Align Strategies With Needs
Customer
Business
Product (Value)
Market
Focus on creating and
delivering value-added
products to target customers
based on their unmet needs.
© H. Del Castillo, AIPMM, Product Management Triple Constraint, 2011
© AIPMM 2012
Understand The Difference
Business Strategy
Defines the path to create a sustainable competitive advantage for your business.
Product Strategy
Roadmap for investment and creation of new revenue streams.
vs.
© AIPMM 2012
Align business, marketing and product
strategies with unmet market
needs.
Create Alignment
© AIPMM 2012
Document and Communicate It
What key activities and
deliverables are needed?
How much investment is needed?
How soon will we break even?
Financial
Business Processes
What key resources are needed? What knowledge and skills are needed?
Learning & Growth
What are the unmet needs?
Who are the customers?
Who’s most likely to buy?
Customer
Product
Vision & Mission
© AIPMM 2012
2. Mind Your Company’s Culture
Culture
People
Process
Cultivate a culture that
fosters innovation and
collaboration to create
& deliver great products.
© AIPMM 2012
Focus on Shared Values
Source: McKinsey 7S Framework
© AIPMM 2012
Eliminate organizational silos
© AIPMM 2012
3. Create a Product Planning Process
Source: © AIPMM, 1998-2012, All Rights Reserved.
Product Management Framework (PMF)
© AIPMM 2012
Leverage The Product Life Cycle
© AIPMM 2012
Identify Key Resources
© AIPMM 2012
Define Key Deliverables
© AIPMM 2012
4. Identify Market/Customer Trends
© AIPMM 2012
Discover Unmet Customer Needs
© AIPMM 2012
Identify Customer Segments Needs; e.g.,
Problems/pain points
Applications/uses addressed
Key functionality/attributes
Degree of sophistication/quality/…
Drives Product/Solution Strategy
Demographics; e.g.,
Industry
Function
Geography
Age/gender/income
Other personal/business characteristics
Drives Outreach Strategy Behaviors and Attitudes; e.g.,
Risk appetite/adoption
Psychographics (lifestyle/personality)
Stated/unstated values
Usage patterns
Vendor/brand loyalty
Drives Adoption Strategy
© AIPMM 2012
Know Your Competitive Landscape
© AIPMM 2012
5. Deliver Value, Success Will Follow
© AIPMM 2012
Creating and delivering value
to customers, executives
and investors is essential
for a successful business.
© AIPMM 2012
Direct the Internal Value Chain
© AIPMM 2012
6. Use Leading Productivity Tools
© AIPMM 2012
Build Your Business Model
© AIPMM 2012
Make Your Business Case
© AIPMM 2012
Key Takeaways • Align strategies with needs 1
• Mind your company’s culture 2
• Create a product planning process 3
• Identify market/customer trends 4
• Deliver value, success will follow 5
• Use leading productivity tools 6
© AIPMM 2012
Useful Links
• Website: http://www.aipmm.com
• Articles: http://www.aipmm.com/html/newsletter/article.php
• Blogs: http://aipmm.com/anthropology/
• Webinars: http://aipmm.com/aipmm_webinars/
• Certification: http://aipmm.com/html/certification/
• Product Management Framework Brochure: http://www.aipmm.com/brochures/AIPMM_PMF.pdf
© AIPMM 2012
Upcoming Training Courses
Upcoming Courses Dates and Location
280 Group: Optimal Product Management and Marketing (OPM) Price: $2,995; Pay only $1,995 when you register by May 18th. For more information or to register, contact Hector Del Castillo at [email protected].
Jun 4-6, 2012 Teqcorner, McLean, VA
280 Group: Certified Product Management Manager (CPM®) Exam Intensive Pre Course Price: $1,295 per person; Includes exam fee ($395 savings). Pay only $795 per person when you register in conjunction with the Optimal Product Management course. For more information or to register, contact Hector Del Castillo at [email protected].
Jun 7, 2012 Teqcorner, McLean, VA
© AIPMM 2012
280 Group: Optimal Product Management & Marketing (OPM)
Date: June 4-6, 2012 Time: 8:30 AM – 5:30 PM EDT Place: Teqcorner, 1616 Anderson Rd., McLean, VA Price: $1,995* per person (regularly $2,995)
Three day course from the 280 Group covering the entire product lifecycle. Teaches you to manage and launch any product at any stage of its lifecycle. This includes the Product Management Lifecycle Toolkit with corresponding productivity templates. Fourth day intensive certification prep course add-on thoroughly prepares you to take the worldwide standard CPM® or CPMM® certification exam.
*Register by May 18th.
© AIPMM 2012
Optimal Product Management
Day One: Foundation
Overview
Process and Product Life Cycle
Market Research
Competitive Analysis
Day Two: Product Management
Conceive
Business Cases
Requirements
Roadmaps
Day Three: Product Marketing
Strategy
Forecasting
Pricing
Beta Program
Launches
Marketing
End of life
© AIPMM 2012
280 Group: CPM® Exam Intensive Prep Date: June 7, 2012 Time: 8:30 AM – 5:00 PM EDT Place: Teqcorner, 1616 Anderson Rd., McLean, VA Price: $795* per person (regularly $1,295)
This review course is offered on the morning of the same day of the Certification Exam. It provides an intensive review of the Association of International Product Marketing & Management (AIPMM) body of knowledge (ProdBOK®) to help participants prepare to take the exam to earn the prestigious Certified Product Manager (CPM®) credential. Participants review the key concepts and terminology used in the exam as well as strategies for answering exam questions and a Q&A for anything else they want to review. Price includes certification exam fee ($395 savings).
* Promotional price applies only when you register for the OPM course simultaneously.
© AIPMM 2012
CPM® Exam Intensive Prep Course
Morning
Introduction
What is Product Management?
Product Life Cycle
Understanding Goods and Services
Product Decisions
Strategic Planning
Afternoon
Marketing Mix
Product Positioning
Value Creation
Exam Review
Guidelines
Q&A
CPM® Certification Exam
© AIPMM 2012
Upcoming Training Courses
Upcoming Courses Dates and Location
Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Price: $1,697 per person; Pay only $1,597 per person when you register by May 9th. Group discount of $1,497 per person when you register 5 people. For more information or to register, contact Hector Del Castillo at [email protected].
May 17-18, 2012 Teqcorner McLean, VA
© AIPMM 2012
Product Innovation Leadership - Igniting innovation and business growth (16 PDUs)
Date: Thursday, Friday, May 17-18, 2012 Time: 8:30 AM – 5:00 PM EDT Place: Teqcorner, McLean, VA Price: $1,697 per person
This course covers best practices and proven methodologies to lead innovation efforts in order for your company to gain or maintain a competitive advantage using a sustainable approach. You will learn knowledge, skills, and tools to integrate and align strategic objectives with a managed and purposeful innovation culture. This course fully prepares you to take the Certified Innovation Leader (CIL) certification exam, which is administered at the end of day two. Price includes training, certification exam fee, AIPMM premium membership, and over 350 templates from Demand Metric.
* Pay only $1,597 (Save $100) per person when you register by May 9th. Group discount of $200 per person when you register 5 people.
© AIPMM 2012
Product Innovation Leadership - Igniting innovation and business growth (16 PDUs)
Day 1
Introduction & Overview
Strategic Innovation Leverage and Alignment (SILA)
Project Identification
Business Case Development
Phase 1: Conceive
Practice Questions
Day 2
Phase 2: Plan
Phase 3: Develop
Phase 4: Develop
Phase 5: Qualify
Phase 5: Launch
Exam Review
Certified Innovation Leader (CIL®) Certification Exam
© AIPMM 2012
Join AIPMM • Network with experts and thought leaders in your
profession. • Learn the latest best practices and methodologies. • Expand your knowledge and soft skills. • Sharpen your leadership and influential skills. • Validate your expertise with internationally recognized
certifications. • Obtain latest tools to enhance your productivity.
© AIPMM 2012
Why Get Certified • Bestows internationally recognized credential • Enhances opportunities for career advancement • Improves your earning potential • Validates your expertise regarding best practices • Grants mark of distinction that sets you apart • Connects you with experts and thought leaders • Demonstrates commitment to your profession
Source: All About Product Management Certification Webcast, Jun 2010
© AIPMM 2012
For More Information About
• AIPMM membership
• Certification courses in your area
• Help to implement the right product strategy & process to grow your business
© AIPMM 2012
Join My Professional Network!
Hector Del Castillo, PMP, CPM, CPMM
Transforming products to profit for technology-based organizations.TM
Product Marketing Director, AIPMM
Connect: linkd.in/hdelcastillo
Follow: @hmdelcastillo
Contact: [email protected]
