Genesis of Product Management

Product management is the practice of planning, developing, marketing and

Digital Product Management
The idea of product management first appeared in the early 30s with a memo
written by the president of Procter & Gamble, Neil H. McElroy, where he
introduced the idea of a product manager -
Introduction responsible for a brand and instrumental to its growth.
Decades later, in the 1980s, modern product management started to take shape
with the explosive growth of the software market. Since then, product
Atanu Ghosh management has been closely connected and typically found in companies
[email protected] creating software.

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What is Product Management What is Product Management

The main objective of product management is the development of a new Product management is linking the development team on the one side and marketing, sales
product. and customer success teams on the other side, while ensuring the process is aligned with the
Its ultimate goal is making sure you re building the right product and building business vision.
the product right. Product management is supposed to translate business objectives into engineering
requirements and vice versa, explain the product functionalities and limitations to the
commercial teams who are responsible for marketing, sales, and customer communication.

3 4

Inbound vs Outbound Product Management Inbound vs Outbound Product Management

Since product management is such a large concept, organizations usually

split responsibilities across departments so that each one can focus on

outbound product management.

Inbound product management involves market research, industry trends

and competitive analysis as well as the overall strategy and product
roadmap.

Outbound product management, on the other hand, focuses on product

marketing - branding, messaging, positioning, product launches, PR,
advertising, etc.

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Product vs Project vs Service Management Problem vs Solution Space

Product Management Project Management Service Management
involves the end-to- focuses on planning, involves managing
end lifecycle of a organizing, and ongoing services and
product, from its executing specific support activities to
conception to its projects to achieve ensure the smooth
eventual retirement. predefined objectives functioning of an
It is concerned with within a set timeframe organization's
creating products that and budget. operations.
meet market demands Projects are temporary It focuses on delivering
and deliver value to endeavors with distinct and maintaining high-
customers. start and end dates. quality services to
customers and
stakeholders.
Example: Example: Example:
Development of a new Building new airbases or Maintenance and support
fighter jet or a new conducting joint exercises services for its aircraft
unmanned aerial vehicle with international fleet. 3 Idiots Space Pen Scene
(UAV) partners
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 Digital vs Physical Product Digital vs Physical Product

Digital Products Physical Products

Digital products Physical products
Nature: are intangible and can be Nature: are tangible and require
are intangible goods or services are tangible items that can be delivered electronically physical handling
that are delivered electronically seen, touched and physically
and exist in a virtual or digital handled. Replicability: can be easily replicated Replicability: often require significant
form. and distributed without additional resources for production and
They can be easily replicated, They require physical manufacturing costs distribution
distributed, and accessed through manufacturing, distribution, and
various digital platforms. storage. Storage and Distribution: can be Storage and Distribution: need physical
stored and distributed electronically storage and logistics for distribution
Example: Example:
Lifecycle and Maintenance: can be Lifecycle and Maintenance: have a
Software applications, training Aircraft, weaponry and physical
updated and maintained through specific lifecycle, including
modules, and digital training equipment software upgrades manufacturing, maintenance and
communication tools retirement

Training and Simulation: offer safe and Training and Simulation: involve higher
cost-effective training opportunities risks and operational costs during
10 training exercises 11

Types of Digital Products Role of a Product Manager

Product Lifecycle Management:
Identifying requirements, conceptualizing new products, overseeing their
development and production, and eventually phasing out obsolete products.

Identifying User Needs:

Identifying the specific needs and requirements for new products.
Understanding user needs and translating them into clear product specifications
B2B
Product Only Market Research and Technology Scouting:
External
Business Conducting market research and technology scouting to stay abreast of
Digital
B2C advancements in technologies, global trends and potential opportunities for
Product Product collaboration with others
Internal Enabled Helps in making informed decisions about adopting cutting-edge technologies and
Business
modernizing their equipment

Vendor and Supplier Management:

Engage with various vendors, suppliers and contractors to facilitate the
procurement of materials and components necessary for the development and
production of products
(Digital) Product Only and (Digital) Product Enabled Business Effective vendor management ensures receiving of high-quality components within
the specified timelines and at reasonable costs.
constitute the bulk of Digital Product Management space
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Role of a Product Manager Disruptive Innovation in Products

Project Coordination:
Collaborating with project managers and engineering teams to ensure that the
development and production of products adhere to the set timelines, budgets, and
quality standards.
Overseeing the coordination of efforts among different teams to achieve successful
product outcomes

Testing and Validation:

Being involved in the testing and validation phases of products
Ensuring that new products meet stringent performance, safety, and reliability
standards before being deployed for operational use.

Product Support and Lifecycle Management:

Overseeing ongoing product support, maintenance, and updates to extend the
product's lifecycle and ensure its continued effectiveness and relevance in the
operations.

Risk Management:
Assess and manage risks associated with the development and deployment of new
products. Clayton Christensen studied the behaviour of such firms and
Identifying potential risks, developing contingency plans, and ensuring that products
are designed with appropriate safety measures.
formulated his theory of disruptive innovation.
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Characteristics of Disruptive Innovation

Over serviced market

Inferior product for a new market

Rapidly adds value and moves up the Thank You

performance trajectory

Can you apply this model in some of the well

known disruptions prior to the digital age?

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 Product Vision and Strategy

Digital Product Management

Product Strategy and Vision

Atanu Ghosh
[email protected] Source: Roman Pichler

Product management is relevant and important where the product

is an intrinsic part of the business
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Product Vision and Strategy Vision, Strategy and Tactics

Product Vision
Is a concise and inspiring statement that captures the long-term
goals and aspirations for a product.
It paints a vivid picture of the future and provides a shared
understanding and direction for everyone involved in the product's
development and deployment.
A compelling product vision fosters motivation, creativity, and
alignment within the organization.

Product Strategy
It refers to the overarching plan and set of decisions that outline the
direction of a product throughout its lifecycle.
It involves understanding the market, identifying customer needs,
and aligning the product's features and capabilities to meet those
needs while achieving the organization's objectives.
A well-crafted product strategy provides a roadmap to address Source: Roman Pichler

current challenges and capitalize on future opportunities.

Like a business, a product may also have a vision, strategy and tactics
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Product Strategy: Key Elements Product Strategy and Roadmap

Source: Roman Pichler

Source: Roman Pichler

Product strategy and roadmap are detailed for core innovation

Key elements of a product strategy
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Tactics for Execution of Roadmap Business and Product Strategy

Source: Roman Pichler

Source: Roman Pichler

Tactics help in executing the Product Roadmap derived Tactics help in executing the Product Roadmap derived
from Product Vision and Strategy from Product Vision and Strategy
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 Building vs Scaling Innovation Ambition Matrix

Scaling
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Users

Seven

Source: Roman Pichler

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New Market New Product

Product Unavailable Application New

Latent demand, Disruptive Application Technology

Penetrate innovation,
market Achieve PMF discovery epiphany

Product Known Product Unknown Technology Existing Technology New

Mature market, Underdeveloped Technology Technology

Grab market market, Develop
share market enhancement discovery

Product Available Application Existing

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Innovation Types and Impact The Lean Canvas

Source: Roman Pichler 13 14

Class Exercise Finding a Motivated Market

Importance of Problem

Hi

Build Lean Canvas

Use Leanstack or PowerPoint Lo Hi User Satisfaction

15 Lo 16
Stakeholder Analysis and Engagement Segmentation Strategies
Interest
Hi
Customer based segmentation
Demographics, psychographics, etc. of
customers

Benefit based segments The type of benefits

Lo Hi Power the customers will get from the product. For
example, in Uber the customers can be
segmented based on the benefits they get i.e.
finding and availing of a cab (rider) and that of
earning by providing cab services (driver)
Lo
17 18

Innovation Strategy and Segmentation Business Strength and

Segment Attractiveness
Segment Attractiveness
Hi

Benefit-First

Benefit-First Lo Hi Business Strength

Customer-First

Lo
19 20

Strategy Canvas Eliminate, Raise, Reduce and Create Grid

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Strategy Canvas - iPhone Variants vs Unbundling

Variants A variation or a specialisation of a

product e.g. Tableau Desktop and Tableau
Public

Unbundling When some features of a product

are taken out and spun off as an independent
product e.g. Facebook Messenger

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 Benefits and Drawbacks of Unbundling Platform (Shared Asset) and Product

Benefits Drawbacks
Makes it easier to grow the product Customers and users may be given
and add new features; improves the too much choice; leaving them
user experience by simplifying the feeling confused and overwhelmed
product

Enables you to take the product to a Existing products may be

new market or segment or to address cannibalised
the needs of a specific group
Helps you generate more business Portfolio management is required to
benefits; creates an opportunity to coordinate development of members
evolve the business model and open of a product family
up new revenue streams

Shared assets and possibly a platform

competitiveness and help you needs to be developed
respond to market changes

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Strategy Validation Effort Class Exercise

High Effort

Build Vision Canvas

Medium Effort Use Aha! Product Roadmap

Low Effort

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Digital Product Management

Feature Prioritisation
Thank You
Atanu Ghosh
[email protected]

Feature Prioritisation Framework Feature Prioritization for MVP

Value
Value vs Effort
Hi
Value, Cost and Solvability

MoSCoW
Have) Cost
Lo Hi
RICE (Reach, Impact, Confidence, Effort)
Hi
Weighted Shortest Job First (WSJF) (CoD/ Job Solvability
Duration), CoD = Cost of Delay
get (highest value), the ones that require least cost to develop (cost
Kano Model effectiveness) and the ones most easily solvable must go into the
feature list of MVP.
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 Weighted Shortest Job First Cost of Delay (CoD)

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KANO Model KANO Model

Must Have Quality Requirements that customers expect, take for

granted and are extremely unhappy if not provided. They may reject the
product altogether.

One Dimensional Quality Requirements that lead to satisfaction if

provided but dissatisfaction if not provided. Normally customers do not
expect this feature. But if the expectation is given, not meeting the
expectation will lead to dis-satisfaction.

Attractive Quality These attributes provide satisfaction if achieved

fully but do not lead to dis-satisfaction if not fulfilled

Indifferent Quality These attributes are those that if provided do not

result in either satisfaction or dis-satisfaction

Reverse Quality This attributes may lead to dis-satisfaction if provided As customer expectations on level of performance change due to
to a certain section of customers, if not all. exposure from competing products
Attributes can move from delighters, to performance needs and then to
basic needs
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Kano Model for Feature Prioritisation Kano Model for Feature Prioritisation

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Thank You