problemsolving linkedin

Michelle Harper

michelle.lynn.harper@gmail.com

Michelle Harper

michelle.lynn.harper@gmail.com

Problem Solving ProductManagement

Problem Solving ProductManagement

Agenda

The Challenge

Stakeholders

Tools: SWOT Analysis BCG Matrix

Timeline

The Challenge

Avoid being hi-jacked by short term opportunities and incremental development

$Achieve Revenue Target

Develop Long term Portfolio Strategy

Balance short term profit and long term value

Leads the product management process by providing vision, product and market strategies and team leadership in conjunction with company goals and mission.

Involved in all stages of a product family’s lifecycle

Director of Product

Management

Seeks new market opportunities by leveraging the company’s distinctive competence

Stakeholders ROADMAPC-Level, VP (Vision, Business Objectives)

Technical/Implementation Support

Platform Engineering & Deliverability (Tools, Data, and Performance)

Product Owners (Feedback, Priorities)

Sales (Feedback, CI)

Customers (Feedback, CI)

Channel & Strategic Alliances (Integrate partner solutions)

Marketing (Surveys, Trade shows, Competitors)

KeyQuestions

What are theRevenue and profit

expectations foreach product line?

What is theMarket

penetration?

What are the top3 most critical

challengesthe company willface this year?

Are new marketsor new productsbeing considered

for the future?

What strategicpartnerships existor on the horizon?

What resourcechanges areexpected?

The BCG Matrix

A means of analysing the product portfolio and informing decision making about possible marketing strategies

Developed by the Boston Consulting Group – a business strategy and marketing consultancy in 1968

Links growth rate, market share and cash flow

Product Life Cycles and the BCG Matrix

The BCG Matrix

Classifies Products into four simple categories:

Stars

Cash Cows

Dogs

Question Mark

The BCG Matrix

Stars Products in markets experiencing high growth rates with a high or increasing share of the market

-Potential for high revenue growth

CoPilot Scale it

Cash Cows: High market share Low growth markets –

maturity stage of PLC Low cost support High cash revenue –

positive cash flows

The BCG Matrix

Dogs: Products in a low growth

market Have low or declining

market share (decline stage of PLC)

Associated with negative cash flow

May require large sums of money to support

The BCG Matrix

Question Mark: Products having a low

market share in a high growth market.

Need money spent to develop them.

May produce negative cash flow

Potential for the future?

The BCG Matrix

Questions to consider Are they worth persevering with? How much are they costing? Could they be revived in some

way? How much would it cost to

continue to support such products?

How much would it cost to remove from the market?

The BCG Matrix

Dogs:

Question Marks: What are the chances of these

products securing a hold in the market?

How much will it cost to promote them to a stronger position?

Is it worth it?

The BCG Matrix

Stars: Huge potential May have been expensive to

develop Worth spending money to

promote Consider the extent of their

product life cycle in decision making

The BCG Matrix

Cash Cows: Cheap to promote Generate large amounts of cash –

use for further R&D? Costs of developing and promoting

have largely gone Need to monitor their performance

– the long term?

At the maturity stage of the PLC?

The BCG Matrix

1st 30 daysObjective: Understand the products. the market, and the company culture

Intro to leaders, team, goals & strategic objectives. Market trends & opportunities

Strategic partners Revenue & profitability targets

Pricing model(s) Establish regular meetings w/stakeholders

Sales or channel strategy Marketing & advertising focus

2nd 30 daysObjective: Take Ownership

Contribute thoughts/ideas on how to streamline partners and programs.

Shadow sales calls Review marketing and sales materials Begin to write strategy materials (ie., product strategy,

product positioning, competitive overview docs) Continue to build relationships

3rd 30 daysObjective: Product Leadership

Become a servant leader to teammates. Finalize product management and VOC frameworks. Finalize product growth plan and strategic road map for all

products Meet with leadership team for input and approval. Communicate strategy to organization.