what is product management?

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What is Product Management?

http://www.brainmates.com.au/

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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?





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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





Most product managers have roots in other professionsPast lives of Product Managers





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





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?





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





Past lives of product managers

PICTURE OF DUDE UNDER CAR

Product managers like to solve problems





Product Managers spend time understanding what customers need and want…





…Then develop solutions that solve these problems and satisfy needs & wants





Product Managers have a duty to deliver and maintain financial benefit to the business





Product Managers see things differently





The carpenter doesn’t want a drill.He wants a hole





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





Product Management in action





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





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!





So to summarise





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.





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 [email protected] +61 1800 BRAINMATES

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