what is product management?
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What is Product Management?
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Who is Brainmates?
A Product Management consulting and training business
To provide experienced Product Management to businesses that want to truly understand their customers’ needs ....
Our mission:
About Brainmates
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... to develop innovative products that their customers love.
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This presentation seeks to answer the following questions:
What is product management?
What do product managers do?
Who does product management?
How does one become a product manager?
What is Product Management?
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What is Product Management?
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A Definition of Product Management
“Product Management is the process of conceiving, planning, developing, testing, launching, deliveringand withdrawing products in the market”
Internal: current teams, managementExternal: supply chain, marketUpstream: planning, development, launchDownstream: ongoing lifecycle management
–ProdBOK pages 37-38
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Product Management’s PurposeIs To Create…
Measurable Business Benefits
Customer Value +
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By Identifying Unsolved Customer Problems…
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To Create Product Experiences..
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That Outwit The Competition…
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Over A Sustainable Period
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Who Does Product Management
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Most product managers have roots in other professionsPast lives of Product Managers
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It’s a pretty safe bet to say that few – if any – product managers have a Bachelor degree in Product Management
“Everyone comes from somewhere else”Steven Haines – The Product Managers Desk Reference
The accidental profession
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Strategic
Tactical / Operational
Marketing / Sales
Engineering
UXDesign
Project Management
Product Operations
MarketingCommunications
Sales
Development
Value Definition
Marketing
Customer Service
MarketResearch
Technical Support
Product Management Domain
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Role Specialisation Within Product Management
Strategic
Tactical / Operational
Marketing / Sales
Engineering
Value Definition
Product Marketer
Product Manager
Technical Product Champion
Sales Product Champion
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So what do Product Managers do?
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Product managers must deliver value to the business and play a strategic role in determining the actions to achieve this.
But their role is also hands-on and involves collaboration with multiple internal stakeholders
Diagram Derived from original model published in: The Product Manager's Handbook : The Complete Product Management Resource, Linda Gorchels, 2000
Product Manager
Senior managers
Marketing
Sales
Customer service
OperationsProduction
R&D
Finance
Strategy
Guiding product and market strategy
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Past lives of product managers
PICTURE OF DUDE UNDER CAR
Product managers like to solve problems
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Product Managers spend time understanding what customers need and want…
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…Then develop solutions that solve these problems and satisfy needs & wants
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Product Managers have a duty to deliver and maintain financial benefit to the business
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Product Managers see things differently
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The carpenter doesn’t want a drill.He wants a hole
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How a Product Manager sees itThe carpenter has a problem. He needs a hole in the wall. A drill can solve this problem, but there’s much more to it than just creating a hole. The carpenter is concerned with multiple factors:
The speed at which the hole is madeThe accuracy of the cutThe safety of the device that makes the holeThe ease of using the deviceThe reliability of the deviceWhere the device can be purchased or accessedThe price of the deviceAfter sales support of the device
Product managers define the problem using criteria such as these before working on possible solutions
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Product Management in action
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Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
The Brainmates Product Management Framework
Two Operational Modes:
Product Development
Product Strategy and Lifecycle Management
Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
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Lifecycle Product Management
Is The Starting Point.
‘Lifecycle Management’, Product Managers must:
Grow product performance in the marketMonitor product performanceReport on the resultsRespond to the issuesPlan for the future
Insights from Product Lifecycle Management practices lead to new Product Development.
No product can survive by only doing without adapting to changing market conditions.
Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
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Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
Product Development
An area of focus for many Product Managers.
Initiated when new ideas require assessment and support from development to launch.
Product and Market Development initiatives help extend the life of the product.
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Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
Product Development Process
3 Phases
1. Innovate
2. Design
3. Implement
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Brainmates Product Management Framework Generate, source,
rank a wide variety of ideas and business
problems.
Select and validate ideas that have value in the market place and will
survive against externalmarket conditions.
Turn the idea into a concept and evaluate
the internal factors that may affect the concept.
Engage deeply with customers to deliver an effective solution that
solves the target market’s problem.
Analyse, define and design the product
and consider alternate solutions.
Plan externalmessaging about the
value of the product to the market, and
articulate product differentiation.
Plan and implement the launch process, activities and event.
Work closely with the development team to check that the build outcomes meet the
market’s requirements.
Ideate
Explore
Focus
ImmerseDefine
Build
Prepare
Launch
Product Strategyand
LifecycleManagement
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How does one get into product management?
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Becoming a Product ManagerBecome good at understanding problems and following a logical process to define and develop solutions that could solve these problems.
Read books and blogs, listen to podcasts and watch videos to learn more about the Product Management professionTalk to Product ManagersUse principles of Product Management in your current roleLook at products and services that you buy & use and apply a Product Manager’s perspective to theseApply for jobs in Product ManagementDream big!
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So to summarise
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In Summary
Good Product Management is about delivering products that customers love.
Product Managers use logic, insight and a degree of creativity in defining, developing, deploying and maintaining these products.
Product managers must guide and collaboratewith other parts of the business and external stakeholders.
Product managers have a duty to deliver measurable benefits to their organisation.
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brainmates helps clients to define, develop and deployproducts and services.
Our insight and expertise ensures these are compelling, competitive and profitable.
Find out more about our Product Management services:TrainingCoachingEvents
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Connect with Brainmates
Brainmates Group @Brainmates#prodmgmt
Facebook.com/Brainmates
www.brainmates.com.au info@brainmates.com.au +61 1800 BRAINMATES
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