The world is much more complex than it was when I was a teenager 30 years ago. We had one rotary dial telephone and a television that received three channels. We lived in a rural area that was “primitive” compared to our modern times and my parents still live in there. They now have cell […]
Beware of VOC: The Customer is Often Wrong
We are told that the cornerstone of any successful product is the information gathered from the customer — aka voice of the customer or VOC. While there are requirements for a minimum viable product, the layering-on of features, bells, and whistles can simply be the lazy marketer’s version of “keeping up with the Joneses.” A […]
7 Steps to Process Development Every Manager Should Know
The concept of a process is simple. A repeatable set of steps that reliably accomplish a goal. Unfortunately, the term “process” is reviled by many because they perceive processes as burdensome, overbearing, inefficient, and ineffective, and they could be correct. However, poor processes and the results they produce do not have to be the default […]
Great Product Management Is About Process, Not Content
The best product managers with whom I’ve worked consistently employ processes important to creating successful products within their organization. These individuals are not necessarily the content experts but they are able to use repeatable processes and their institutions’ expertise to create success. The processes important to product management are: Strategic thinking Research and market analysis […]
If You Don’t Control Your Products, You Aren’t in Control of Your Company
The trend for at least the past 20 years has been to outsource production if not the entire product design to outside suppliers. While this may help with product cost and profit margins, there are many other reasons for developing your own products instead of relying mainly on outsourced products. My four reasons for developing […]
Tips for Creating an Effective Value Proposition
The value proposition is one of the keys to the success of your product. This simple phrase or short treatise must convey the value of your product to the prospective customer in an engaging manner that creates enough interest in them to warrant further conversation. The value proposition is simple in concept, but I find […]
Not All Data Is Created Equally
A great deal of market and competitive data is collected during the early phases of in the development of a new product. Some of the information is accurate and valuable, and some of it is little more than hearsay. The analysis of this data,collected during research, customer interviews, and discussions with sales and other customer-facing […]
Key Elements of a Successful Product Concept
There are three key elements to developing the concept of a successful product. If these three are followed, then there is a high chance that your new venture will be a success; skip or gloss-over any of them and your products will most likely fail. The elements are: Company fit Portfolio fit Market fit Fit […]