market insight why and how
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Presentation slides that covered the answers of the Market Insight quizTRANSCRIPT
Market Insight – Why and How
Quiz and presentation
Harri Pendolin, Prodman
Product Tank Meetup
27th of November 2014, Helsinki
#1 reason why new product ideas fail
Roadmap - Why and How 2014
We don’t understand market needs!
Roadmap - Why and How 2014
CHALLENGE: What do YOU know
about market insights? Are you ready
for a quiz?
Please, take your smart device, open a browser and
go to kahoot.it. Enter game pin and your nick
name.
The quiz can be found here: https://create.kahoot.it/#quiz/3332259a-3292-4343-8592-6bec1402e46a
1. Customer insight is knowing the needs and
problems your customers have
Sales meeting
Customer advisory boards
Product statistics
Feedback from customer support
…
2014Roadmap - Why and How
2. Customer insight is also competitive
intelligence
Roadmap - Why and How 2014
Positioning
3&4. Customer insight is understanding
market trends and technology insight
Roadmap - Why and How 2014
Current market
The next wave
Time
Money
Every market and product has it’s finite life-cycle!
1. For new product ideas the best way to gain
market insight is NOT to ask your customers
Roadmap - Why and How 2014
The Challenge with new product ideas
- Customers don’t know what they will
need!!
2. For new product ideas the best way to gain
market insight is NOT to use agile development
methodologies
Roadmap - Why and How 2014
Being agile is good for REACTING to
market insight, not to GAIN it
3. For new product ideas the best way to gain
market insight is NOT to use online surveys
Roadmap - Why and How 2014
In most of the cases surveys are made
to reinforce our OWN assumptions.
4. For new product ideas the best way to gain
market insight is to use Build-Measure-Learn loop
Roadmap - Why and How 2014
Ideas
Build
Product
Measure
Data
Learn
Market Insight
Pretotypes and MVP’s
Roadmap - Why and How 2014
Three horizons planning framework
Roadmap - Why and How 2014
Horizon 1
Horizon 2
Horizon 3Current products
Strategic themes or
focus areas for new
products
Vision
Time
Money
Three horizons - three different needs for market insight!
Gain market insight for horizon 1
Roadmap - Why and How 2014
Listen to your
customers!
Gain market insight for horizon 2
Roadmap - Why and How 2014
Test your
assumptions!
Picture by Mikko Jäppinen, Palmu Inc.
Gain market insight for horizon 3
Roadmap - Why and How 2014
Find the right
problems!
“If you don't know where you are
going, any road will get you there.”
Lewis Carroll, writer of Alice in Wonderland
2014Roadmap - Why and How
1. Roadmap is NOT a commitment to your
customers
Roadmap - Why and How 2014
Disclaimer:
This document (“Roadmap”) contains
forward-looking statements based on
current expectations, forecasts and
assumptions of the Company that
involve risks and uncertainties.
2. Roadmap can be used to gain market
insight
Roadmap - Why and How 2014
Yes, but be careful with it!
3. Roadmap shall visualize your product
vision
Roadmap - Why and How 2014
“An artefact that communicates
the direction you’ll be going in
order to fulfill the product
vision.”
Janna Bastow, Co-Founder, ProdPad
4. Roadmap contents shall NOT come only
from product manager
Roadmap - Why and How 2014
Roadmaping and gaining market insight is teamwork
Roadmap - Why and How 2014
And the winner is…
2014Roadmap - Why and How
Competences, processes and tools.
Winning product management.
Success stories.