the product strategy divide - mapi product... · 2017-11-20 · the product strategy divide bridge...
TRANSCRIPT
THE PRODUCT STRATEGY DIVIDE
Bridge these gaps andMaximize your product portfolio
Presented by: Greg DiCillo, PresidentMaximal
11/20/2017© 2017 Maximal All Rights Reserved 1
Introduction
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What Organizations Want?
• Product lines that are optimized
• Revenue and profits that are maximized
• Healthy Product Mix What They Get?
• Bloated product portfolios• Mediocre revenue and
profitability• Unbalanced Product Mix
The Product Strategy Divide
Introduction
Objectives
• 6 Gaps Causing the Divide
• 4 Attitudinal Shifts
• 6 Tips to Bridge the Gaps
Product Manager
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6 Gaps Causing the Divide
1. Strategy Alignment
2. Portfolio Management
3. Market Knowledge
4. Product Lifecycle
5. Product Planning
6. Discipline
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Introduction Growth Maturity Decline End of Life
Sale
s
Time
Gap 1: Strategy Alignment
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Strategies Operating Plans
On going planning
Corporate Planning
Vision Objectives
Vision Objectives Strategies Operating Plans
On going planning
Product Planning
Engage Product Managers in Strategic planning
Gap 2: Portfolio Management
Introduction
Sale
s
Growth Maturity Decline
Time
End of Life
Product Managers manage the entire lifecycle from end to end
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Gap 3: Market Knowledge
• Underutilization of segmentation
• Miss opportunities to identify value
• Neglect to understand the underlying problems from the customer’s point of view
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Use segmentation like a prism to view the markets in alternate ways
Gap 4: Product Lifecycle
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Strategic Focus
Market Development
Market Penetration
Market Defense
Optimization Exit
Market Strategy
Product
Price
Place
Promotion
Introduction Growth Maturity Decline End of Life
Sale
s
Time
There’s more than one strategy lever – use the entire marketing mix
Gap 5: Product Planning
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Marketing & Sales Target Customers
Target Applications
OperationsProduct Rationalization
Forecasts
Product Development New ProductsEnhancements
ManagementBusiness Case
Vision
Successful strategies require clear and concise requirements for all stakeholders
Gap 6: Discipline• Process for gathering and
analyzing market data• Effective evidence of the
links between product strategies and the markets.
• Appropriate rigor for forecasts and Investment analysis
• Visibility of strategies across product lines and portfolios
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Structure and discipline is required for consistent and reliable strategies
4 Attitudinal Shifts1. Product Manager =
Lifecycle Manager 2. Manage the portfolio like
an investment fund manager
3. Encourage Strategic planning at the Product Line level
4. Be experts on the markets
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Turn Product Management into a competitive advantage
“6” Tips to Bridge the Gaps
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Tip #1 Engage your product managers in the strategic planning process and require them to develop a strategic plan for their portfolio. Leadership requires vision
Tip #2 Encourage Product Managers to manage the product portfolio like a “business within the business”. Be Entrepreneurial and Innovative
Tip #3 Foster the idea of prism thinking by nurturing the idea of alternative segmentation and more customer centric perspectives about needs, wants, and problems. Outside-In not Inside-Out
Tip #4 Emphasize the need for Product Managers to pull other 4P levers for strategies throughout the lifecycle. Avoid Single P thinking
Tip #5 Challenge product managers to formulate product rationalization strategies concurrently with strategies for new products. Every strategy decision has ramifications for the portfolio
Tip #6 Standardize on tools and processes that foster consistency, sustainability and visibility needed to manage the entire product portfolio. Product Planning and strategy is not an event
Learn More
Website: www.maximalpm.comEmail: [email protected]: @GDiCilloMaximalLinkedIn: www.linkedin.com/in/GregoryDiCillo
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