Presents

Product Management ExpressPlatform 1: Market

SpeakersRavi Padaki & Manish Maheshwari

Objectives of the Market Platform

• Demystify Product Management• Emphasize Market Driven Needs• Explore Product Management Careers

Agenda

• Module 1– Introduction to Product Management– Roles and Responsibilities– Idea to launch process

• Module 2– Discovering needs– Translating need into a product– What makes a great PM?

What’s a product?Ready to “satisfy” or “create” a need

Either has a “utility” or kindles a “desire”

Finished to buy or to resell

Solutions “packaged”

Tangible or Intangible

Repeatable in manufacturing

Repeatable in solving the need

Repeatable in distribution

Repeatable in pricing

Solution Drivers• Client driven

– Custom solution for each client– Not repeatable– e.g. Infosys, Cognizant

• Technology driven– Technology breakthrough or validation– Can be repeatable but more focused on breakthrough– e.g. Research in Motion, Google Search, Web TV

• Market driven– Aggregated needs across market– Repeatable solution across users in a given market– e.g. iPhone, Zoho, Fusion Charts

What is Product Management?ProductManagement

What to build? (Problem Statement)

Who to build for? (Target Markets and Customers)

Why do we need to build it? (Business Case)

When do we need to build? (Planning)

What is the desired experience? (Design andTechnological Feasibility)

What is Product Management?

Business

DesignTechnology

You are here!

The BTD Framework

8

Business

DesignTechnology

OpportunityAssessmentOpportunityAssessment Market ResearchMarket Research Competitive

LandscapeCompetitiveLandscape Market definitionMarket definition

Mental ModelsMental Models

PersonasPersonas

Technologytrends

Technologytrends

Cost of effortCost of effort

FeasibilityconstraintsFeasibilityconstraints Design trendsDesign trends

Fundamentals of Product Mindset

Customer needs Vs Customer wants

Problem space Vs Solution Space

Market driven needs Vs Clientrequirements

Problem Space

Articulate the problem statement first

Don’t get into how without validating the problem youwant to solve

When you are building prototypes and validating withthe customer, validate the problem not the solution

What are we present to?

New Connectedness• Social and Professional Networks• Mobile devices• Crowd Sourcing

New Technology• Big Data• Open Source• Anything as a Service

New Processes• Lean Methodology’s Iterative validation (MVP)• Co-creation and Co-designing

Implications for the new age PM

Ability to move fast with cheaply availableopen source technologies

Ability to make use of (reliable) data forbetter decisions

Imperative to focus on customer delightand business models

ROLES AND RESPONSIBILITIES

Day to Day Responsibilities of aProduct Manager

Identify customer and market needs

Assess opportunity for business and users

Develop product strategy and roadmaps

Work with cross functional team to bring products live to market

Communicate product value to users and internal stakeholders

Measure and manage growth and usage

In one word…

Ultimately you are the CEO of the Product!• Leadership by influence matters a great deal• All the responsibility and no authority• Authority is earned by earning respect

A DAY IN THE LIFE OF APRODUCT MANAGER

16

A Day in the Life of a Product Manager

Attend to urgent and important

Check favourite blogs, news on products, technology and markets

Attend daily huddle

Check current release status

Check past release product performance and customer issues

Develop detailed plans for next release

Make time for competitive research and analysis – up and coming startups

Make time to build relationships with internal and external partners

Attend to last minute requests on demos and presentations

IDEA TO LAUNCH PROCESS

TraditionalProduct Development Life Cycle

OpportunityAssessmentBRD&MRD

ProductPlanning

RoadmapsBacklogs

DefinitionPRD

DesignUI Mocks

DevelopmentCode

LaunchProduct

The life cycle is getting faster and shorter

OpportunityAssessmentDocuments

Product DiscoveryPlanning + Definition +

DesignPrototypesRoadmapsBacklogs

Product DiscoveryPlanning + Definition +

DesignPrototypesRoadmapsBacklogs

DevelopmentCode

DevelopmentCode

LaunchProduct

Overview of Products and Markets

Markets

New

Existing

Existing New

Products

Also known as Ansoff Matrix

Startups

Hi Tech Product Life Cycle

22

END: MODULE 1

THANK YOU

Ravi PadakiCEO, Pravi Solutionsravi@pravisolutions.com