The document outlines Ramkumar Narayanan's approach to product strategy with a focus on the customer. It recommends defining the market opportunity and addressable size, developing customer personas to understand needs, creating a solution to address the top customer pains, setting metrics for success, and planning marketing to drive adoption through channels and campaigns while constantly iterating based on customer feedback. The overall approach emphasizes deep customer understanding and delivering value to drive business outcomes.
Boost the utilization of your HCL environment by reevaluating use cases and f...
Customer Centric Product Strategy Dec 2012
1. Product Strategy
A Customer Centric
Approach
Ramkumar Narayanan
General Manager, eBay Centre of Excellence, India
2. Strategy
A plan, method, or series of maneuvers or
stratagems for obtaining a specific goal or
result
Source: Dictionary.com
Ramkumar Narayanan - Dec 2012
3. What is the market opportunity?
Who is the customer?
How will the solution address customer
need?
What defines success?
How to effect customer adoption?
Ramkumar Narayanan - Dec 2012
5. Market Opportunity
Clearly define the market you want to play in
… Geo, Demo, Consumer, Enterprise, Large, Small etc.
Define the bounding box
… BUT not too narrow – nor too wide
Arrive at the addressable opportunity
… Evaluate constantly
Market situation analysis
… Porters 5 forces – the popular framework
Ramkumar Narayanan - Dec 2012
7. Customer Definition
Get a deep view of your customer
… Demog, Psychog, Socio-Economic, Cultural etc.
Develop persona(s)
… NEEDS to become the lingua franca
Build a view of their life that is material (to you)
… ILLUSTRATE the unmet need or pain point
Understand the competitive environment
… WHAT else do they use and value derived
Create a hypothesis on the business model
… WHO is going to pay for the solution
Ramkumar Narayanan - Dec 2012
9. The Solution
Stack rank the unmet needs
… PICK the top ones to focus on
Get in front of customers early and often
… Access, Simplicity, Usability, Validation etc.
Develop the value proposition (differentiation)
… DEMONSTRATE why they need it (critically)
Understand the dependencies
… THIS is a connected eco-system
Deliver to customer fast and build for scale
… INSTRUMENT for insight and iterate
Ramkumar Narayanan - Dec 2012
11. Success Metrics
Define realistic goals for users and revenue
… STRETCH but don’t go overboard
Validate a scalable business model
… DRIVE revenue based on customer and channel
Evaluate customer satisfaction constantly
… THIS is what matters
Measure against competition
… EVEN if things appear extremely good
Ramkumar Narayanan - Dec 2012
13. Marketing Plan
Define clear marketing objectives and strategy
… MATRIX of market and product type
Availability strategy
… DECIDE gradual/full, markets etc.
Drive adoption and usage
… USE channels, campaigns, partnerships etc.
Beware the 2 guys with a laptop chasing you
… BE on your toes and look over your shoulder
Ramkumar Narayanan - Dec 2012