what is it? product development vs. product management

What Is It? Product Management vs. Product Development

Warren M. Gitt Overlook International Group LLC

Columbia MD (410) 456-6282

[email protected]

Warren Gitt Overlook International Group LLC Background & Experience

35 Years in the Medical Device/Healthcare Arena Products and Services for the Physician, Hospital, Medical Device, IT,

Pharmaceutical, Consumer, and Managed Care Markets Executive Level Roles in Product Management, Marketing and Sales

Management, Business Development and General Management Expertise/Experience in International Markets (Bilingual in German) Public and Private, Start-Ups, Development Stage, Fortune 500 Cos Currently Serving as VP Global Business Development for K2M, Inc.

Education &Training

BA Secondary Education and German Language (Hastings College, NE) MBA International Business (Thunderbird now part of ASU) US Army Defense Language Institute

Key Takeaways

This session will focus on the respective roles and responsibilities of the Product Manager vs. the Development Engineer from a products inception through its lifecycle maintenance, including: Leveraging the Cross-Functional Product Team to Deliver Results

How to manage and direct the organizations resources to develop a product that will achieve the financial, market and strategic objectives of the products business.

Business vs. Technical Aspects of Product Development If not me, then who is responsible?

Putting the Customer First How to avoid developing the perfectly designed product that doesnt fit the customers needs.

Navigating the Organization and Getting Things Done How to manage all that responsibility with little to no authority via networking, politicking and influencing (situational consultative leadership).

OMTEC 2016

PRODUCT DEVELOPMENT IS A SUBCOMPONENT

OF PRODUCT MANAGEMENT

WHAT IS IT?

A Picture Worth A Thousand Words

WHAT IS PRODUCT MANAGEMENT?

OMTEC 2016

Product Management What Is It?

Market

Technology Business

What is Product Management? Strategic Business and Product Planning

Global Strategic Business Planning Long Term Strategic Growth Maintaining a Strategically Healthy Product Range

Product Manage the Product Development Process Forecasting and Product Planning Augmenting/Culling the Product Line

Distribution Competitive Analysis Sales Analysis Sales Support

Product and Customer Education/ Training Pricing and Reimbursement Promotion

Sales and Product Promotions Marketing Communications Trade Shows, Exhibitions, Seminars

UP

ST

RE

AM

D

OW

NS

TR

EA

M U

PSTREAM

DO

WN

STREAM

Upstream - Product Development Model

Develop a collaborative approach to product development, through

which healthcare providers, opinion leaders, experienced

biomechanical engineers, and product management experts

gather at regular product development meetings, maintaining

constant communication either in-person or via prescheduled audio and video conference.

Development Project

Upstream - CEO of the Product Line

Product Management

Customers: Distribution

& End-Users

Engineering

Supply Chain

Quality and Regulatory

MarComm Med Ed

Corp Events

OUS vs US

Finance

Sales Management

and Field Specialists

Responsibility but Limited Authority Requires Leadership from the Middle

Execs

Competitors

Govt Regulatory

User Preference

Downstream Marketing

Medical Education

(Includes Sales Training)

Marketing Communications Field Activities

Global Sales Support

Corporate Events (Trade Shows/ Conferences)

Global Marketing: Product

Management functions as product

CEO

Sales Support Activities Market and Territory Research and Analysis Sales Planning and Review tools for use by Sales

Management Territory Planning Tools Scorecard Development Inventory Planning and Oversight Tools

Support of National Contracting Activity Visits to the Field

Key End Users Case Coverage Training

Feedback Loop Voice of the Customer

WHAT IS PRODUCT DEVELOPMENT?

OMTEC 2016

Product Development Approach (Collaborative Teams)

Development Team

Project Manager Functions as the CEO for Team Develop Business Plan and Market Opportunity, Manages Team s Administration and Logistics

Senior Engineer Functions as the Chief Technical Officer Biomechanical Engineering Intellectual Property Development Regulatory/Clinical Interface

Global Subject Matter Experts Providers (Surgeons, Nurses, Other Clinicians) Sub-Segment Expertise

(CEO)

(CTO)

Structure and Process Are Essential

Stage Gate Model A conceptual and operational road map for moving a new-product development from idea to launch. It is a product management technique in which any product development process is divided into various stages separated by gates. It is an iterative process in which each stage is unique & independent, consisting of activities necessary before moving to the next gate. Gates serve as quality control checkpoints with 3 Goals: to ensure quality of execution, to evaluate the business rationale and to approve the project plan and resources. At each gate the team leadership determines if more information is required to move forward or whether to abort the project. The Product Manager can switch to any of the previous stages in case of failure to qualify through the appropriate gate.

Overview of Development (Device Market) Project Initiation Design Inputs Design Reviews Regulatory Planning Design Transfer Prototyping Supply Chain Activities (Planning

and Ordering Products) FDA and CE (Regulatory) Quality Alpha/Beta Product Evaluation/ Intro Changes as result of Alpha/Beta Final Marketing Introduction

DE

VE

LO

PM

EN

T

KEYS TO SUCCESS Product Management

OMTEC 2016

What Constitutes An Effective Product Manager?

An effective Product Manager is A person whose product decisions over time consistently

result in increasing market share without a detrimental impact on margins. From the customers perspective it is being constantly "delighted" with the product offering.

How is it done? By developing and honing three critical marketing skills: (1) strategic insight, (2) near flawless tactical execution of strategies, and (3) the understanding and use of financial tools effectively.

Selection Is Critical PERSONAL QUALITIES AND ATTRIBUTES

Ability to discern between strategic and tactical issues

Meticulous attention to detail, Strong follow-up capability Ability to work alone

Self-discipline, Self-starter, Goal oriented Possesses strong time management skills

Team orientation Able to build team relationships with other business disciplines (e.g. interfaces continuously with engineering, Clinical,

manufacturing, procurement, finance, sales and executive personnel)

Strong oral and written communications skills

Strong analytical and planning skills

Project management skills

Understanding of basic managerial skills Ability to plan and organize work efforts to maintain proper focus and output, yet be able to appropriately

prioritize tasks

PRODUCT MANAGERS HAVE RESPONSIBILITY BUT LIMITED AUTHORITY

FIND/RECRUIT THOSE WITH THE ABILITY TO LEAD FROM THE MIDDLE

Thick Skin Is Essential

Primary Product Management Responsibilities

Strategic Business and Product Planning Product Development and Maintenance Distribution Support and Planning Product Promotion and Training People Management Financial and Business Management

Same Skill Sets Required, Irrespective of Level Within Product Management.

Two Development Tracks

Management Subject Matter Expertise

Appropriate Balance of Upstream vs. Downstream Marketing

Frequent, Periodic Feedback

Bonus Compensation Tied To

Financial Success

Category Marketing Assistant

Associate Product Manager

Product Manager

Senior Product Manager

Group Product Manager

Education BA/BS BA/BS, MBA preferred BA/BS, MBA preferredBA/BS, MBA

preferred BA/BS, MBA preferred

Computer/Database Skills - Working knowledge of Microsoft Office, Database Applications, CRM Systems, ERP and Document Control Systems

X X XX XX XXX

Total Experience Required (Years In marketing, sales or related business positions, either internal or, if external, preferably in the medical device business)

0 to 2 1 to 5 3 to 10 5 or more 5 or more

Marketing Experience Required (Years In marketing positions, either internal or, if external, preferably in spine or orthopedics)

0 1 to 3 3 to 5 5 to 10 5 to 10

Global Strategic Business Planning - Write worldwide strategic business plans in assigned product areas to insure that products are consistently managed for optimum growth and margin revenue, that products are properly introduced to the marketplace and to the sales force, that product management mileposts are set, prioritized and achieved according to plan, and that implementation tactics are carefully thought out and planned in advance of execution

NA X XX XXX XXX

Long-Term Strategic Growth - Develop and implement a strategic worldwide business plan the ensure that long-term (3 or more years) growth objectives are achieved. Identify and establish ongoing positive relationships with thought leaders worldwide. Become knowledgeable on current clinical trends. Gain strategic insight for providing product direction. Establish strong clinical partnerships in developing new products. Define and locate ideal products and/or business acquisitions which strategically fit K2M's mission and which provide the necessary growth. Map out tactical programs essential to achieving long-term business objectives, both domestic and international.

NAAssists and

Recommends XX XXX XXX

Strategically Healthy Product Range - Provide direction to insure that the product range remains commercially viable and strong. Specific strategies include auditing the product range on a semi-annual basis for competitiveness and commercial parity, for completeness vs. product gaps, margin contribution, leapfrog opportunities (cutting edge technology for development or acquisition). Insure that direct reports remain up-to-date on customer and market issues. Train direct reports to do reliable primary market research. Insure responsiveness among direct reports to field "noise" on product related issues. Train direct reports on how to drive new product introductions.

NA X XX XXX XXX

PRODUCT MANAGEMENT REQUIREMENTS, RESPONSIBILITIES AND PERSONAL ATTRIBUTES

Educ

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Well-Defined/ Monitored Expectations

Requirements-Responsibilities


CategoryMarketing AssistantAssociate Product ManagerProduct ManagerSenior Product ManagerGroup Product Manager

Education TrainingEducationBA/BSBA/BS, MBA preferredBA/BS, MBA preferredBA/BS, MBA preferredBA/BS, MBA preferred

Computer/Database Skills - Working knowledge of Microsoft Office, Database Applications, CRM Systems, ERP and Document Control SystemsXXXXXXXXX

Total Experience Required (Years In marketing, sales or related business positions, either internal or, if external, preferably in the medical device business)0 to 21 to 53 to 105 or more5 or more

Marketing Experience Required (Years In marketing positions, either internal or, if external, preferably in spine or orthopedics)01 to 33 to 55 to 105 to 10

Strategic Business and Product PlanningGlobal Strategic Business Planning - Write worldwide strategic business plans in assigned product areas to insure that products are consistently managed for optimum growth and margin revenue, that products are properly introduced to the marketplace and to the sales force, that product management mileposts are set, prioritized and achieved according to plan, and that implementation tactics are carefully thought out and planned in advance of executionNAXXXXXXXXX

Long-Term Strategic Growth - Develop and implement a strategic worldwide business plan the ensure that long-term (3 or more years) growth objectives are achieved. Identify and establish ongoing positive relationships with thought leaders worldwide. Become knowledgeable on current clinical trends. Gain strategic insight for providing product direction. Establish strong clinical partnerships in developing new products. Define and locate ideal products and/or business acquisitions which strategically fit K2M's mission and which provide the necessary growth. Map out tactical programs essential to achieving long-term business objectives, both domestic and international.NAAssists and RecommendsXXXXXXXX

Strategically Healthy Product Range - Provide direction to insure that the product range remains commercially viable and strong. Specific strategies include auditing the product range on a semi-annual basis for competitiveness and commercial parity, for completeness vs. product gaps, margin contribution, leapfrog opportunities (cutting edge technology for development or acquisition). Insure that direct reports remain up-to-date on customer and market issues. Train direct reports to do reliable primary market research. Insure responsiveness among direct reports to field "noise" on product related issues. Train direct reports on how to drive new product introductions.NAXXXXXXXXX

ProductManage Product Development Process - Lead development efforts for new products by collecting and assessing design inputs, market needs, design and manufacturing limitations, financial constraints. Serve as Project Manager by setting timelines, financial and design controls, adherence to regulatory and quality requirements. Collaborate with production on all operational requirements. Serve as primary end-user customer interface (Voice of Customer) and as feedback loop as regards design, market and clinical needs.NAAssists but has limited authority for decision making XXXXXXXX

Forecasting and Product Planning - Track sales and market history and project additional/new product sales so that accurate production schedules can be developed monthly to drive manufacturing, and so that intelligent marketing decisions can be made to correct sales lags, alter BOMs, instruments, etc.AssistsXXXX

Augmenting/Culling the Product Offering - Continuously monitor the product offering to identify and maintain high margin vs. low margin contributors, high vs. low volume usage, make recommendations for enhancing or improving the existing product offering, identify product gaps in order to maintain competitive parity, make recommendations for complementary product development or acquisitionsAssistsXXXXXXXXX

DistributionCompetitive Analysis - Closely monitor and document competition and competitive activity, evaluates competitive strategy, develop strategies to block competitive activity, insure products are at parity or above on all "customer perceived" critical featuresAssistsRecommends, Limited Decision-MakingXXXXXXX

Sales Analysis - Analyze sales trends and collate sales data to determine effectiveness of selling effort, provide "intelligence" to sales management, identify weak market areas, identify profitable vs. unprofitable product lines, identify ASP, measure effectiveness of promotions, measure market share gains/losses.AssistsXXXXXXXX

TrainingProduct Training - Insure that sales reps and sales management are well-trained so that surgeon questions about the product can be answered intelligently and properly. Insure that sales presentations are informative and cover all salient product features/benefits and surgical technique issues. Provide inservices which are thorough and which address all relevant questions and issues. Train sales managers such that they can answer virtually all general questions posed to and by their reps and surgeons. Collaborate with the training department so that field personnel have a product profile manual to refer back to for refresher training. Train customer service reps so they are knowledgeable regarding products and instruments. Develop professional training aids for use by both surgeons and sales.XXXXXXXXXXX

PricingPricing Administration - Manage the pricing function to insure that all products and instrumentation are priced to achieve K2M objectives, new products are priced appropriately for the market and to meet margin objectives, price increases are based on increases in costs, inflation, etc., short-term promotions or conversion pricing does not violate long-term business objectives, ASP objectives are set for major products on an annual basis and are closely monitored.NAXXXXXXXX

Reimbursement - Research, document and communicate reimbursement strategies so as to ensure market acceptance and reimbursement for products sold (DRGs) and procedures performed (CPT Code)NAXXXX

PromotionSales and Product Promotions - Develops sales promotional concepts that stimulate short term demand, combat competitive tactics as required, secure sales attention and time when needed. Creates promotional programs that are easy to understand and implement, attractive to customers and sales reps, easy to accept and advantageous to use, limited in time to preserve premium margins, professional in all aspects, consistent with overall K2M strategic business objectivesNAXXXXXXXXX

Marketing Communications - Collaborate with Marcom Manager to interface with ad agencies, graphic designers, printers, etc. in the development of promotional and sales support materials.XXXXXXX

Trade Shows, Exhibitions, Seminars - Plan and manage activities in collaboration with other marketing departments. Attend as required. Provide necessary equipment and staffingXXXXX

Management of PeopleManages Associate/Assistant EmployeesNANAXXXXXX

Manages PM'sNANAXXNAXX

Staff Development - Working closely with Human Resources prepare and implement a specific development plan for each direct report, assisting the direct report in developing himself/herself in achieving maximum performance and professional growth. Conduct periodic "performance discussions" to identify areas of strength, opportunities for improvement, jointly s setting short-term business and personal development goals. Provide opportunities for growth which have clear cut objectives with well laid out performance standards. Provide direct reports with learning opportunities such as seminars/schools. Closely monitor time management of direct reports such that they are able to carry out primary responsibilities without distraction from purpose. Aid the subordinate in understanding and realizing the vision of the position and his or her personal contribution to K2M.NANAXXXXXX

Common Responsibilities of Exempt Positions - Develops and maintains the knowledge, abilities and perspnal qualities necessary for the proper execution of assigned duties. Plans and schedules work so that it can be carried out efficiently, effectively and safely. Prepares reports and records promptly. Keeps higher management and staff departments having functional responsibility informed of all significant developments. Assumes complete responsibility within scope of activity for compliance with the spirit and letter of federal and state laws as well as programs for equal employment practices, safety in operations and compliance with Regulatory and Quality requirements. LimitedXXXXXXXX

Financial and Business ManagementSales and Profitability Achievement - Insure that budgeted sales and profitability goals are met for the fiscal year. Track Sales progress by product with marketing staff. Guide staff thinking in due development of sales support ideas. Train staff on how to implement worthwhile programs (dos and don'ts). Establish and enforce policy direction for pricing and promotional programs. Insure sales management is aware of weak sales territories and regions. Challenge sales management to take strong steps to rectify weak sales areas. NA$$$$$$$$

Management of Product FamilyNAXXXXXXXX

Management of Product SiloNANAXXXXXXX

Spending AuthorityNA$$$$$$$$

Personal Qualities-Attributes



Personal Qualifications and AttributesMeticulous attention to detailxxxxx

Strong follow-up capabilityxxxxx

Self-disciplinexxxxx

Self-starter xxxxx

Goal orientedxxxxx

Possesses strong time management skillsxxxxx

Ability to work alonexxxxx

Team orientation - Able to build team relationships with other business disciplines (e.g. interfaces continuously with engineering, R and D, manufacturing, procurement, finance, sales and executive personnel)xxxxx

Strong oral and written communications skillsxxxxx

Strong analytical skillsxxxxx

Strong planning skillsxxxxx

Project management skillsxxxxx


Understanding of basic managerial skillsxxxxx

Ability to discern between strategic and tactical issuesxxxxx

Ability to plan and organize work efforts to maintain proper focus and output, yet be able to appropriately prioritize tasksxxxxx

Advancement




Advancement Timeline (estimates only)0 to 1 YrsX

1 to 3 YrsX

3 to 5 YrsX

5 to 10 YrsXX

Compensation Guidelines ($) - Subject to changes based on company policy and market conditionsSee Dir of Prod Mgt or HRSee Dir of Prod Mgt or HRSee Dir of Prod Mgt or HRSee Dir of Prod Mgt or HRSee Dir of Prod Mgt or HR

Notes

Key/Legend

Xs reflect an increasing breadth and depth to the responsibilities of the position, however, in each case the fundamental responsibility remains the same.

Examples of increasing/decreasing breadth and depth of responsibility include:

More products or product lines, management of a silo

More technically sophisticated products requiring more in-depth analysis, greater engineering interface, increased clinical requirements

Different kinds of products (e.g. implants vs. biologics vs. equipment vs. disposables vs. services)

Greater revenue or margin dollars

A larger span of control in terms of reporting personnel

Brief-Respons-Time Study

PRODUCT MANAGEMENT REQUIREMENTS AND RESPONSIBILITIES

CategoryMarketing AssistantAssociate Product ManagerProduct ManagerSr. Product ManagerGroup Product ManagerTime Study Reference

Education/TrainingEducationBA/BSBA/BS, MBA preferredBA/BS, MBA preferredBA/BS, MBA preferredBA/BS, MBA preferred

Computer/Database Skills XXXXXXXXX

Total Experience Required 0 to 21 to 53 to 105 or more5 or more

Marketing Experience Required 01 to 33 to 55 to 105 to 10

Strategic Business & Product PlanningGlobal Strategic Business PlanningNAXXXXXXXXXD

Long-Term Strategic Growth NARecommendsXXXXXXXXD,E

Strategically Healthy Product Range NAXXXXXXXXXD, E

ProductManage Product Development ProcessNAAssists XXXXXXXXD,E

Forecasting and Product PlanningAssistsXXXXD,E

Augmenting/Culling the Product Offering AssistsXXXXXXXXXD,E

DistributionCompetitive Analysis AssistsRecommendsXXXXXXXA,C,D,E

Sales AnalysisAssistsXXXXXXXXC,D

TrainingProduct Training XXXXXXXXXXXC

PricingPricing Administration NAXXXXXXXXD,E

ReimbursementNAXXXXD,E

PromotionSales and Product Promotions NAXXXXXXXXB,C

Marketing Communications XXXXXXXB

Trade Shows, Exhibitions, Seminars XXXXXC

People ManagementManages Associate/Assistant EmployeesNANAXXXXXXG

Manages PM'sNANAXXNAXXG

Staff Development NANAXXXXXXF,G

Exempt Position-Common ResponsibilityLimitedXXXXXXXXF,G

Financial and Business ManagementSales and Profitability Achievement NA$$$$$$$$C,D,E,G

Management of Product FamilyNAXXXXXXXXC,D,E,G

Management of Product SiloNANAXXXXXXXC,D,E

Spending AuthorityNA$$$$$$$$C,D,E,G

Correlation with Time StudyTarget % of Time AllottedReference (above chart)With No ReportsWith Reports

Product TrainingA10%5%

MarcomB5%NA

Sales SupportC25%15%

Sales and Market Analysis, Business PlanningD20%30%

Product DevelopmentE30%15%

Personal DevelopmentF10%10%

People ManagementGNA25%

PRODUCT MANAGEMENT MATRIXINCLUDINGTIME STUDY REFERENCES

&A

Blank Time Study


Product TrainingA

MarcomB

Sales SupportC

Sales and Market Analysis, Business PlanningD

Product DevelopmentE

Personal DevelopmentF

People ManagementG

1

Sheet1

CategoryProduct ManagerCurrent Competency Status

Education/TrainingEducationBA/BS, MBA preferredAchieved

Computer/Database Skills XXAchieved

Total Experience Required 3 to 10Achieved

Marketing Experience Required 3 to 5Achieved

Strategic Business & Product PlanningGlobal Strategic Business PlanningXXIn Process

Long-Term Strategic Growth XXIn Process

Strategically Healthy Product Range XXAchieved

ProductManage Product Development ProcessXXAchieved

Forecasting and Product PlanningXIn Process

Augmenting/Culling the Product Offering XXAchieved

DistributionCompetitive Analysis XAchieved

Sales AnalysisXAchieved

TrainingProduct Training XXAchieved

PricingPricing Administration XIn Process

ReimbursementXIn Process

PromotionSales and Product Promotions XAchieved

Marketing Communications XAchieved

Trade Shows, Exhibitions, Seminars XAchieved

People ManagementManages Associate/Assistant EmployeesXXIn Process

Manages PM'sXXNA Currently

Staff Development XXProficiency Demonstrated

Exempt Position-Common ResponsibilityXXAchieved

Financial and Business ManagementSales and Profitability Achievement $$Achieved

Management of Product FamilyXXAchieved

Management of Product SiloXXAchieved

Spending Authority$$Achieved



Product Manager



Manage Product Development Process - Lead development efforts for new products by collecting and assessing design inputs, market needs, design and manufacturing limitations, financial constraints. Serve as Project Manager by setting timelines, financial and design controls, adherence to regulatory and quality requirements. Collaborate with production on all operational requirements. Serve as primary end-user customer interface (Voice of Customer) and as feedback loop as regards design, market and clinical needs.

NAAssists but has

limited authority for decision making

XX XXX XXX

Forecasting and Product Planning - Track sales and market history and project additional/new product sales so that accurate production schedules can be developed monthly to drive manufacturing, and so that intelligent marketing decisions can be made to correct sales lags, alter BOMs, instruments, etc.

Assists X X X X

Augmenting/Culling the Product Offering - Continuously monitor the product offering to identify and maintain high margin vs. low margin contributors, high vs. low volume usage, make recommendations for enhancing or improving the existing product offering, identify product gaps in order to maintain competitive parity, make recommendations for complementary product development or acquisitions

Assists X XX XXX XXX

Competitive Analysis - Closely monitor and document competition and competitive activity, evaluates competitive strategy, develop strategies to block competitive activity, insure products are at parity or above on all "customer perceived" critical features

AssistsRecommends,

Limited Decision-Making

X XXX XXX

Sales Analysis - Analyze sales trends and collate sales data to determine effectiveness of selling effort, provide "intelligence" to sales management, identify weak market areas, identify profitable vs. unprofitable product lines, identify ASP, measure effectiveness of promotions, measure market share gains/losses.

Assists X X XXX XXX

Trai

ning

Product Training - Insure that sales reps and sales management are well-trained so that surgeon questions about the product can be answered intelligently and properly. Insure that sales presentations are informative and cover all salient product features/benefits and surgical technique issues. Provide inservices which are thorough and which address all relevant questions and issues. Train sales managers such that they can answer virtually all general questions posed to and by their reps and surgeons. Collaborate with the training department so that field personnel have a product profile manual to refer back to for refresher training. Train customer service reps so they are knowledgeable regarding products and instruments. Develop professional training aids for use by both surgeons and sales.

X XX XX XXX XXX


Prod

uct

Dis

trib

utio

n



Product Manager



Pricing Administration - Manage the pricing function to insure that all products and instrumentation are priced to achieve K2M objectives, new products are priced appropriately for the market and to meet margin objectives, price increases are based on increases in costs, inflation, etc., short-term promotions or conversion pricing does not violate long-term business objectives, ASP objectives are set for major products on an annual basis and are closely monitored.

NA X X XXX XXX

Reimbursement - Research, document and communicate reimbursement strategies so as to ensure market acceptance and reimbursement for products sold (DRGs) and procedures performed (CPT Code)

NA X X X X

Sales and Product Promotions - Develops sales promotional concepts that stimulate short term demand, combat competitive tactics as required, secure sales attention and time when needed. Creates promotional programs that are easy to understand and implement, attractive to customers and sales reps, easy to accept and advantageous to use, limited in time to preserve premium margins, professional in all aspects, consistent with overall K2M strategic business objectives

NA X XX XXX XXX

Marketing Communications - Collaborate with Marcom Manager to interface with ad agencies, graphic designers, printers, etc. in the development of promotional and sales support materials.

XX XX X X X

Trade Shows, Exhibitions, Seminars - Plan and manage activities in collaboration with other marketing departments. Attend as required. Provide necessary equipment and staffing

X X X X X


Prom

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Performance Reviews Tied To The Product Management Matrix





































Self-starter xxxxx

Goal orientedxxxxx












Advancement





1 to 3 YrsX

3 to 5 YrsX

5 to 10 YrsXX


Notes

Key/Legend







































MarcomB5%NA







&A

Blank Time Study


Product TrainingA

MarcomB

Sales SupportC




People ManagementG

1

Sheet1































































Self-starter xxxxx

Goal orientedxxxxx












Advancement





1 to 3 YrsX

3 to 5 YrsX

5 to 10 YrsXX


Notes

Key/Legend







































MarcomB5%NA







&A

Blank Time Study


Product TrainingA

MarcomB

Sales SupportC




People ManagementG

1

Sheet1




























MAJOR RESPONSIBILITIES OR TASKS DURING THIS REVIEW PERIOD AND RESULTS DURING THIS REVIEW PERIOD List in order of importance, what this employee was supposed to do (This is not a job description) What did this employee accomplish based on job assignment above, and any goals agreed upon? List significant results achieved. Explain any Major Lack of results

Pricing

Price list update and analysis of competitor pricing

Maintain accurate tables of competitor pricing, develop updated Plates, Biologics, Motion, Interbody and Accesss pricing for price list.

Update as needed, minimum of 1 time per year

Achieved, Worked on 2012 Pricing and on

OUS Pricing/BOM Protocol

Development

Reimbursement Work with pricing team as needed to address any reimbursement issues

As needed None Required at this

time

Training

Create training material and support HCIR trainings and VIP's for Plates, biologics, Motion, Interbody and Access as needed

Training presentations and quizzes complete. Coordination of product for trainings and VIP visits.

Update/support as needed

Prepared on time and as required,

additional products added

Attend and support Global Sales Meeting Attendance and preparation for 2012 meeting.

Complete by date of GSM On time, responsible for 1/3

of content

Support Plates, Interbody and Access cadaver workshops. Provide product management support, logistical support, follow up with all surgeon and sales attendees, track usage after training.

trainings in 2011 and in 2012. Complete analysis of ROI of trainings. (Qty Training TBD by MedEd)

As scheduled; Completed as

required

Support Plates, Interbody, Biologics, Motion and Access product demos. Keep accurate feedback of meetings; follow up with all surgeons and sales agents within an appropriate timeframe after meeting.

Maintenance of feedback, trip reports, completion of follow up activities.

Monthly completed as

required

Weekly/Bi-Weekly 1:1s with the Manager

Quarterly Product Reviews with Sales and Executive Management

Annual Performance Review Tied to Specific Tasks Associated with the Matrix Responsibilities


Tactical Marketing Downstream Objectives Teach skills for immediate on-the-job application in five product

management areas: 1. Sales Database Analysis Understanding what the numbers mean from a marketing

perspective.

2. Field Sales Support Providing materials so effective they significantly enhance the reps ability to close a sale.

3. Time Management Gaining control of the most precious resource T-I-M-E.

4. Battlefield Competition Dealing with competitors on a day-to-day basis.

5. Market Research Learning the fundamentals of effective market research methods on a shoe-string budget.

Training seminars are available from such organizations as The Medical Product Management Institute, Sequent Learning Systems and others and can be tailored to your specific company and products

Develop Specific Product Management Skills via Training

Training - Strategic Marketing Upstream Objectives Provide insight into basic requirements for establishing and maintaining an effective business strategy.

1. Situation Analysis Comparative analysis of we versus theyproduct, distribution, market, and corporate culture.

2. Issues and Opportunities Using efficiency prioritization tools to rank issues and challenges, as well as strategic opportunities and initiatives.

3. Strategic Array What is your strategy? What are the four critical requirements for sustainable competitive advantage?

4. Voice-of-the-Customer How do you use VOC to identify and translate genuine customer needs into superior strategic products? What is your customer's "landscape of demand"? How do you achieve sustainable "customer advantage?

5. Weighing Strategy Evaluating strategic initiatives: Using Tools such as Kano, conjoint, competency analysis, Go/No-Go decisions tools.

6. Positioning Brands Brand building and brand maintenance: How to get products firmly positioned in the mind of customers.

7. Business Plan Fundamentals How does one put together a long-term (3-5 years out) strategic business plan?

Develop Specific Product Management Skills via Training

Training seminars are available from such organizations as The Medical Product Management Institute, Sequent Learning Systems and others and can be tailored to your specific company and products

Training Provide an understanding of the fundamentals of accounting and financial measurements used within your business environment and within your market (e.g. general finance, reimbursement, coding, currency exchange).

1. Your Companys Finances Understanding the financial nuances of your company, your market and your customers. Balance Sheet, Income Statements, Cash Flow, Operational vs. Capital Expense, Impact of Currency Exchange.

2. How does money move within your market Understand the complexity of your market, where complicated marketing and financial issues exist. Recognize the interaction and sensitivity of volume, costs, and financials (In the medical market, where reimbursement issues control payment it is critical to understand the interaction between payers, physicians and hospitals).

3. Planning for New Product Introductions Forecasting and working through the financials in a product introduction scenario where risk alternatives must be correctly determined and prioritized.

4. Measuring Success the Right Metrics Different kinds of measuring tools and the attributes of each. Understand how different metrics work. Putting it all together comfort in understanding the financial management of your company.

Financial Management Skills

Understand FINANCE and how to FOLLOW THE MONEY

Microsoft Office Suite Excel Word Powerpoint

Training Specific to ERP System Microsoft Access Microsoft Project Document Control System Presentation Skills Clinical Applications DATA, DATA, DATA - Learn how to transform Data first into

Information and then into Actionable Intelligence

Additional Skill-Specific Training

LESSONS I HAVE LEARNED Product Management Vs. Product Development

OMTEC 2016

Bad Product Manager Always makes lots of excuses. A bad product manager is not the product's CEO. Lacks in communication skills. Bad product managers don't communicate well

with the engineering team and others, and tend to blame others when things go wrong.

Puts out fires all day and complains about being swamped by questions and interruptions.

Bad product managers focus the team on the feature that the competition is building.

Bad product managers get confused about how to position their products. Bad product managers always want to be told what to do. Bad product managers don't adhere to schedules or process. Bad product managers don't take responsibility and tend to blame others.

Good VS. Bad Product Managers

Good Product Manager Knows the product, the market and the competition really well. Is the CEO of the product. Takes responsibility for all aspects of the product. Manages him/herself based on the product's performance on the market. Takes responsibility for devising and executing a winning plan. Good product managers manage the product team and not every detail of every

aspect of everyone's work. He/she knows how to delegate and manage the team effectively.

Good product managers are focused on strategic decisions, ensuring that the product is flexible and adaptable to a changing business environment.

Good product managers create materials to support the day-to-day operations of the team. He/she is not swamped by questions about the product and ensures that the product manager is not the only one that can answer questions about the product.

Good product managers focus the team on revenue and customers. Good product managers focus on delivering value to the market place and not

on just matching the competition. Good product managers are disciplined and maintain schedules.

Good VS. Bad Product Managers

To some degree, Product Managers are born, not made leadership skills are a prerequisite

Draft well dont skimp on training (its about process, the product can be learned) Some Engineers can be successful Product Managers (Must be out of box thinkers and an

MBA is recommended. Beware the Engineer with no creativity!) A good Salesman will not necessarily become a good Product Manager but a good Product

Manager must be a good Salesman If unable to Multi-Task, forget about Product Management Product Managers must be expert communicators, have exceptional interpersonal

skills and be comfortable in their own skin (and the skin better be thick). Good Product Managers are not necessarily Good People Managers

Dont make the mistake of promoting someone to a position managing others just because they are Subject Matter Experts.

Product Management activities should create a One to Many effect There should be leverage in everything a Product Manager does.

Sales, Engineering and Marketing must share an integrated approach and must not operate independently

Empowerment is essential Product Managers have limited authority, others in leadership must not undermine their efforts

Unfortunately, great Product Managers move on to leadership positions or get lured away (always have a succession plan)

Product Management is a terrific training ground for General Management

My Advice To You

QUESTIONS/DISCUSSION

What Is It? Product Management vs. Product Development

Special Thanks to Sequent Learning Systems and to the Medical Product Management Institute whose training materials and practical experience are the basis for much of this presentation and whose approach to Product Management is quite similar to mine.

OMTEC 2016

THANKS!

Overlook International Group LLC 8732 Sage Brush Way Columbia MD 21045

410-456-6282 [email protected]

WARREN GITT

http://www.bonezonepub.com/subscribe

What is it - Product Development vs. Product ManagementOMTEC-2016_Gitt_Product-Dev-vs-Mgmt.pdfSlide Number 1Warren Gitt Overlook International Group LLCKey TakeawaysPRODUCT DEVELOPMENT IS A SUBCOMPONENT OF PRODUCT MANAGEMENTA Picture Worth A Thousand WordsWhat is PRODUCT MANAGEMENT?Product ManagementWhat Is It?What is Product Management?Upstream - Product Development ModelUpstream - CEO of the Product LineDownstream MarketingSales Support ActivitiesWhat is PRODUCT DEVELOPMENT?Slide Number 14Stage Gate ModelOverview of Development (Device Market)Keys to successWhat Constitutes An Effective Product Manager?Selection Is CriticalPrimary Product Management ResponsibilitiesSlide Number 21Slide Number 22Well-Defined/ Monitored ExpectationsDevelop Specific Product Management Skills via TrainingSlide Number 25Slide Number 26Additional Skill-Specific TrainingLESSONS I have LEARNEDGood VS. Bad Product ManagersGood VS. Bad Product ManagersMy Advice To YouQuestions/DiscussionThanks!

Online closing side OMTEC 2016 speaker presentationsRoom 49_Thursday_Warren Gitt_Product Development EDITED VN.pdfSlide Number 1Warren Gitt Overlook International Group LLCKey TakeawaysPRODUCT DEVELOPMENT IS A SUBCOMPONENT OF PRODUCT MANAGEMENTA Picture Worth A Thousand WordsWhat is PRODUCT MANAGEMENT?Product ManagementWhat Is It?What is Product Management?Upstream - Product Development ModelUpstream - CEO of the Product LineDownstream MarketingSales Support ActivitiesWhat is PRODUCT DEVELOPMENT?Slide Number 14Stage Gate ModelOverview of Development (Device Market)Keys to successWhat Constitutes An Effective Product Manager?Selection Is CriticalPrimary Product Management ResponsibilitiesSlide Number 21Slide Number 22Well-Defined/ Monitored ExpectationsDevelop Specific Product Management Skills via TrainingSlide Number 25Slide Number 26Additional Skill-Specific TrainingLESSONS I have LEARNEDGood VS. Bad Product ManagersGood VS. Bad Product ManagersMy Advice To YouQuestions/DiscussionThanks!

what is it? product development vs. product management

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