Creating the Right Product Strategy To Grow Your Company's Revenue - ProductCamp DFW - H. Dl CastilloAIPMM
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Introduction The creation of successful products is essential for companies that want to grow or maintain a competitive advantage. Many organizations lack a clearly defined and understood product strategy. We will discuss the importance of the AIPMM Product Management Framework (PMF) to define and implement a process to conceive, plan and market your company’s products at each stage of their life cycle. We will identify key activities to align business and product strategy with unmet customer needs to create value for your business. We will describe the typical product life cycle from concept to launch and through product retirement. We will also discuss why growing organizations need to implement a formal product management process to support their product strategy. Objectives * Why do you need to define the right product strategy? * What are the benefits of implementing a product planning process? * What do you need to constantly create insanely great products? Contact me at http:/linkd.in/hdelcastillo for more information regarding AIPMM membership or certification courses in your area. Let me know how I can help you accelerate your career, or create and implement a product strategy and product planning process successfully to grow your business.
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Creating the Right Product Strategy To Grow Your Company's Revenue - ProductCamp DFW - H. Dl CastilloAIPMM
- 1. Hector Del Castillo linkd.in/hdelcastillo June 23, 2012 © AIPMM 2012
- 2. I want to thank everyone who attended the AIPMM sessions at PCamp DFW. I also want to thank the 280 Group for their support. I welcome your feedback regarding this topic. Contact me with any comments or questions. I look forward to seeing you again soon. © AIPMM 2012
- 3. Tweet About Us! Hector: #hmdelcastillo AIPMM: #AIPMM PCamp DFW: #PCampDFW © AIPMM 2012
- 4. © AIPMM 2012
- 5. Community Certification Subject Matter Experts & Like-Minded Peers to ask Certification can help to improve both questions organizational performance and individual career aspirations as part of a managed skills development approach. Connections Content Connecting our members through multiple social media Hundreds of practical templates, examples, and information networks extends our reach © AIPMM 2012
- 6. Hector Del Castillo • Senior consultant with over 10 years transforming products to profit for technology-based companies • AIPMM Body of Knowledge (ProdBOK®) Contributor • Established companies – Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies • Small companies and startups – Nextone Communications, Smith Micro Software • Launched 27+ Products for global deployment – HW/SW, Telecom, Enterprise Mobility, Information Security Services, Professional Development • Certified PMP®, CPM® and CPMM® • University of California at Santa Barbara, MS EE • University of Texas at El Paso, MS EE, BS EE © AIPMM 2012
- 7. AIPMM Certifications • Certified Product Manager (CPM®) • Certified Product Marketing Manager (CPMM®) • Agile Certified Product Manager (ACPM®) • Certified Innovation Leader (CIL®) • Certified Brand Manager (CBM®) Source: Validate Your Expertise © AIPMM 2012 7
- 8. What We Will Discuss 1. What is Product Strategy? 2. Why Your Company Needs It 3. Implementing A Product Strategy 4. Key Takeaways © AIPMM 2012
- 9. What is Product Strategy? ”Product strategy begins with a strategic vision that states where a company wants to go, how it will get there, and why it will be successful.” Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001 © AIPMM 2012
- 10. ”Product strategy is like a roadmap. It’s useful only when you know where you are and where you want to go.” Source: Product Strategy for High Technology Companies, 2nd Edition, Michael E. McGrath, 2001 © AIPMM 2012
- 11. Fortune’s Most Admired Companies Rank Company Industry Industry Rank 1 Apple 1 Computers 2 Google 1 Internet Services & Retailing 3 Amazon.com 2 Internet Services & Retailing 4 Coca-Cola 1 Beverages 5 IBM 1 IT Services 6 FedEx 2 Delivery 7 Berkshire Hathaway 1 Property and Casualty 8 Starbucks Coffee 2 Food Services 9 Procter & Gamble 1 Soaps and Cosmetics 10 Southwest Airlines 3 Airlines Source: FORTUNE Magazine, 19 Mar 2012 © AIPMM 2012
- 12. TIPS FOR IMPLEMENTING A PRODUCT STRATEGY SUCCESSFULLY © AIPMM 2012
- 13. 1. Align Strategies With Needs Focus on creating and delivering value-added Customer products to target customers Product based on their unmet needs. (Value) Business Market © H. Del Castillo, AIPMM, Product Management Triple Constraint, 2011 © AIPMM 2012
- 14. Understand The Difference Business Strategy vs. Product Strategy Defines the path to Roadmap for investment create a sustainable and creation of new competitive advantage revenue streams. for your business. © AIPMM 2012
- 15. Create Alignment Align business, marketing and product strategies with unmet market needs. © AIPMM 2012
- 16. Document and Communicate It Financial How much investment is needed? How soon will we break even? Learning & Growth Customer What key resources are Product What are the unmet needs? needed? Vision & Mission Who are the customers? What knowledge and skills are needed? Who’s most likely to buy? Business Processes What key activities and deliverables are needed? © AIPMM 2012
- 17. 2. Mind Your Company’s Culture Cultivate a culture that Process fosters innovation and collaboration to create People & deliver great products. Culture © AIPMM 2012
- 18. Focus on Structure Source: McKinsey 7S Framework © AIPMM 2012
- 19. Eliminate organizational silos © AIPMM 2012
- 20. 3. Adopt A Product Planning Process Product Management Framework (PMF) Source: © AIPMM, 1998-2012, All Rights Reserved. © AIPMM 2012
- 21. Leverage The Product Life Cycle © AIPMM 2012
- 22. Identify Key Resources © AIPMM 2012
- 23. Define Key Deliverables © AIPMM 2012
- 24. 4. Discover Insights © AIPMM 2012
- 25. Discover Unmet Customer Needs © AIPMM 2012
- 26. Identify Customer Segments Needs; e.g., Demographics; e.g., Problems/pain points Industry Applications/uses addressed Function Key functionality/attributes Geography Degree of sophistication/quality/… Age/gender/income Drives Product/Solution Strategy Other personal/business Behaviors and Attitudes; e.g., characteristics Risk appetite/adoption Drives Outreach Strategy Psychographics (lifestyle/personality) Stated/unstated values Usage patterns Vendor/brand loyalty Drives Adoption Strategy © AIPMM 2012
- 27. Know Your Competitive Landscape © AIPMM 2012
- 28. 5. Deliver Value, Success Will Follow © AIPMM 2012
- 29. Polish your value proposition Creating and delivering value to customers, executives and investors is essential for a successful business. © AIPMM 2012
- 30. Direct the Internal Value Chain © AIPMM 2012
- 31. 6. Use Leading Productivity Tools © AIPMM 2012
- 32. Build Your Business Model © AIPMM 2012
- 33. Make Your Business Case © AIPMM 2012
- 34. Key Takeaways 1 • Align strategies with needs 2 • Mind your company’s culture 3 • Adopt a product planning process 4 • Discover insights 5 • Deliver value, success will follow 6 • Use leading productivity tools © AIPMM 2012
- 35. Useful Links • Website: http://www.aipmm.com • Articles: http://www.aipmm.com/html/newsletter/article.php • Blogs: http://aipmm.com/anthropology/ • Webinars: http://aipmm.com/aipmm_webinars/ • Certification: http://aipmm.com/html/certification/ • Product Management Framework Brochure: http://www.aipmm.com/brochures/AIPMM_PMF.pdf © AIPMM 2012
- 36. Upcoming Training Courses The following training courses from the 280 Group and AIPMM will be offered in Dallas in July. Contact me if you’re interested in registering for these courses. © AIPMM 2012
- 37. 280 Group Training Courses Upcoming Courses Dates and Location Sep 17-19, 2012 280 Group: Optimal Product Management and Marketing (OPM) Teqcorner, Price: $2,995; Pay only $1,995 when you register by Jul 11th. For more information or to McLean, VA register, contact Hector Del Castillo at hmdelcastillo@aipmm.com. 280 Group: Certified Product Management Manager (CPM®) Exam Sep 20, 2012 Teqcorner, Intensive Pre Course McLean, VA Price: $1,295 per person; Includes exam fee ($395 savings). Pay only $795 per person when you register in conjunction with the Optimal Product Management course. For more information or to register, contact Hector Del Castillo at hmdelcastillo@aipmm.com. © AIPMM 2012
- 38. 280 Group: Optimal Product Management & Marketing (OPM) Date: Sep 17-19, 2012 Time: 8:30 AM – 5:30 PM EDT Place: Teqcorner, 1616 Anderson Rd., McLean, VA Price: $1,995* per person (regularly $2,995) Three day course from the 280 Group covering the entire product lifecycle. Teaches you to manage and launch any product at any stage of its lifecycle. This includes the Product Management Lifecycle Toolkit with corresponding productivity templates. Fourth day intensive certification prep course add-on thoroughly prepares you to take the worldwide standard CPM® or CPMM® certification exam. * Must register by Jul 11th. © AIPMM 2012
- 39. Optimal Product Management Day One: Foundation Day Two: Product Management Overview Process and Product Life Cycle Day Three: Product Marketing Conceive Market Research Business Cases Competitive Analysis Strategy Requirements Forecasting Roadmaps Pricing Beta Program Launches Marketing End of life © AIPMM 2012
- 40. 280 Group: CPM® Exam Intensive Prep Date: Sep 20, 2012 Time: 8:30 AM – 5:00 PM EDT Place: Teqcorner, 1616 Anderson Rd., McLean, VA Price: $795* per person (regularly $1,295) This review course is offered on the morning of the same day of the Certification Exam. It provides an intensive review of the Association of International Product Marketing & Management (AIPMM) body of knowledge (ProdBOK®) to help participants prepare to take the exam to earn the prestigious Certified Product Manager (CPM®) credential. Participants review the key concepts and terminology used in the exam as well as strategies for answering exam questions and a Q&A for anything else they want to review. Price includes certification exam fee ($395 savings). * Promotional price applies only when you register for the OPM course simultaneously. © AIPMM 2012
- 41. CPM® Exam Intensive Prep Course Morning Afternoon Introduction What is Product Management? Marketing Mix Product Life Cycle Product Positioning Understanding Goods and Services Value Creation Product Decisions Exam Review Strategic Planning Guidelines Q&A CPM® Certification Exam © AIPMM 2012
- 42. AIPMM Training Courses Dates and Upcoming Courses Location Product Innovation Leadership - Sep 27-28, 2012 Igniting innovation and business growth (16 PDUs) Teqcorner McLean, VA Price: $1,697 per person; Pay only $1,497 per person when you register by Jul 11th. Group discount of $1,397 per person when you register 5 people. For more information or to register, contact Hector Del Castillo at hmdelcastillo@aipmm.com. © AIPMM 2012
- 43. Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Date: Sep 27-28, 2012 Time: 8:30 AM – 5:00 PM EDT Place: Teqcorner, McLean, VA Price: $1,697 per person This course covers best practices and proven methodologies to lead innovation efforts in order for your company to gain or maintain a competitive advantage using a sustainable approach. You will learn knowledge, skills, and tools to integrate and align strategic objectives with a managed and purposeful innovation culture. This course fully prepares you to take the Certified Innovation Leader (CIL) certification exam, which is administered at the end of day two. Price includes training, certification exam fee, AIPMM premium membership, and over 350 templates from Demand Metric. * PCamp Boston participants pay only $1,497 (Save $200) per person when you register by Jul 11th. Group discount of $300 per person when you register 5 people. © AIPMM 2012
- 44. Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Day 1 Day 2 Introduction & Overview Strategic Innovation Leverage and Phase 2: Plan Alignment (SILA) Phase 3: Develop Project Identification Phase 4: Develop Business Case Development Phase 5: Qualify Phase 1: Conceive Phase 5: Launch Practice Questions Exam Review Certified Innovation Leader (CIL®) Certification Exam © AIPMM 2012
- 45. Why Get Certified • Bestows internationally recognized credential • Enhances opportunities for career advancement • Improves your earning potential • Validates your expertise regarding best practices • Grants mark of distinction that sets you apart • Connects you with experts and thought leaders • Demonstrates commitment to your profession Source: All About Product Management Certification Webcast, Jun 2010 © AIPMM 2012
- 46. Why Join AIPMM • Network with experts and thought leaders in your profession. • Learn the latest best practices and methodologies. • Expand your knowledge and soft skills. • Sharpen your leadership and influential skills. • Validate your expertise with internationally recognized certifications. • Obtain latest tools to enhance your productivity. © AIPMM 2012
- 47. Upcoming Product Management Talk Therese Padilla, Co-founder and President of AIPMM, Leads Global Product Management Talk Discussion Regarding Two Books On The Subject of Business Models. [Register] Date: Monday, June 25, 2012 Find Your Time: http://bit.ly/NQtawW Listen: http://bit.ly/NRaux3 Tweet: Follow @ProdMgmtTalk Use #ProdMgmtTalk Product managers, as well as business owners and entrepreneurs, must constantly be learning in order to incorporate new trends in methodologies, provide guidance so their products adapt to the newest emerging technologies, cope with market fluctuations, and continuously update product roadmap plans as their products progress through the stages in the product lifecycle process. Business model principles include customer value propositions, profit formulas and the key resources and processes required to deliver successful products and customer promises. © AIPMM 2012
- 48. Upcoming Webcast Why Innovation Leadership Is Essential To Ignite Your Company's Growth Date: Wednesday, June 27, 2012 Time: 8:00 AM - 9:00 AM EDT [Register Here] Innovation is a central element of business growth strategy within companies that aim to generate added value for their customers, the company itself, and other stakeholders. While many company executives and business leaders agree that in order for their companies to survive today's increasingly global marketplace, they must face the unpleasant truth that there may have to be fundamental changes in who they are, what they do, and how they do it. Few executives feel their companies are good at the specific processes and tactics frequently tied to successful innovation, such as generating breakthrough ideas, selecting the right ideas, prototyping, and developing business cases. We will provide insights to help you define and implement a process to drive innovation within your company using a sustainable approach to ignite business growth. © AIPMM 2012
- 49. For More Information About • AIPMM membership • Certification courses in your area • Defining the right product strategy & process to grow your business • Aligning your business model with your product strategy © AIPMM 2012
- 50. Join My Professional Network! Hector Del Castillo, PMP, CPM, CPMM Transforming products to profit for technology-based organizations.TM Product Marketing Director, AIPMM Connect: linkd.in/hdelcastillo Follow: @hmdelcastillo Contact: hmdelcastillo@aipmm.com © AIPMM 2012
Notas do Editor
- Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.
- AIPMM offers globally recognized certifications for product managers, product marketing managers and brand managers.Certified Product Manager (CPM), Certified Product Marketing Management (CPMM) and Agile Certified Product Manager (ACPM). Certification requires obtaining a college degree, minimum one year of experience, and passing a certification examination.
- Product Strategy is a company’s game plan that takes into account the core capabilities within a business to create and deliver value-added products within a marketplace.It describes how you plan to conceive, plan, implement, distribute, market and sell your products in a sustainable manner.
- Why Your Company Need It?Provides a roadmap to create value for your business, customers and investors.Identifies how you plan to market and sell your products to your marketplace.Anticipates your competitors’, including new entrants, probable moves.Defines how your customers think about your products. May encompass any number of products, depending on the nature of your business.
- In their March 19, 2012 issue, FORTUNE magazine named the 50 most admired companies. The Most Admired list is the definitive report card on corporate reputations. Our survey partners at Hay Group started with approximately 1,400 companies: the Fortune 1,000 (the 1,000 largest U.S. companies ranked by revenue), non-U.S. companies in Fortune’s Global 500 database with revenue of $10 billion or more, and the top foreign companies operating in the U.S.They then sorted the companies by industry and selected the 15 largest for each international industry and the 10 largest for each U.S. industry. A total of 698 companies from 32 countries were surveyed. (Due to an insufficient response rate, the results for 11 companies in the scientific, photographic, and control equipment industry were not published. In addition, due to the distribution of responses, only the aggregate scores and ranks for the 10 companies in the oil and gas equipment/services industry were published.) To create the 58 industry lists, Hay asked executives, directors, and analysts to rate companies in their own industry on nine criteria, from investment value to social responsibility. This year only the best are listed in the magazine: A company's score must rank in the top half of its industry survey. Online, all companies' results are displayed. To arrive at the top 50 Most Admired Companies overall, the Hay Group asked 3,855 executives, directors, and securities analysts who had responded to the industry surveys to select the 10 companies they admired most. They chose from a list made up of the companies that ranked in the top 25% in last year's surveys, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry. The difference in the voting rolls is why some results can seem anomalous -- for example, although FedEx is one of the top 10 Most Admired Companies, it is second in the Delivery industry behind top-ranked UPS, which ranked 29th on the top 50 overall.
- Business StrategyDescribes what a business wants to achieve and then how it is going to make it happen, with its products, customers, and operations.Defines the path to create a sustainable competitive advantage.Product StrategyDescribes resources, operations, channels and partners to create and deliver value to your target customers in a sustainable manner.Provides a roadmap for investment and creation of new revenue streams.
- Recommended Reading:Harvard Business Review April 2004The Ambidextrous Organizationby Charles A. O’Reilly III and Michael L. TushmanThe Roman god Janus had two sets of eyes—one pair focusing on what lay behind, the other on what lay ahead. General managers and corporate executives should be able to relate. They, too, must constantly look backward, attending to the products and processes of the past, while also gazing forward, preparing for the innovations that will define the future.
- http://www.businessweek.com/magazine/content/11_24/b4232068147070.htm
- Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.It contain elements that apply across all industries and all companies and can also be adapted to create customized frameworks to address unique needs of specific industries and companies.It defines a standard set of inputs, processes and outputs that can be applied to any product.It provides a solid foundation for both implementing and evaluating a product management organization in a company.
- A business model is a framework that describes the rationale of how an organization creates, captures and deliversvalue to customers,shareholders and employees.The business model creation process is part of business strategy.Business models are used to describe and classify businesses. They are also used by managers inside companies to explore possibilities forfuture development.
- A business model is a framework that describes the rationale of how an organization creates, captures and deliversvalue to customers, shareholders and employees.The business model creation process is part of business strategy.Business models are used to describe and classify businesses. They are also used by managers inside companies to explore possibilities forfuture development.
- Here is an upcoming training opportunity that I will lead.
- Here is an upcoming training opportunity that I will lead.
- Here is an upcoming training opportunity that I will lead.
- Certification validates your knowledge and expertise in Product Management, Product Marketing Management and Agile Product Management.Certification evaluates your expertise regarding the product management and marketing body of knowledge.Certification provides a mark of distinction that sets you apart. Certification provides external validation of your knowledge and competence among others not familiar with the profession, improving your marketability. Certification shows your commitment to the profession and your own professional growth.Certification improves your opportunity for professional advancement, including your professional marketability, salary increases, job role and promotions.Certification requires a dedication to continuing education, promoting your continued growth and development as a professional. Certification may persuade your employer to underwrite educational activities that support your professional development and your company's continuous improvement efforts. Certification links youwith experts and thought leaders in your profession.
- Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.
- Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.