Digital Product Management

Introduction

Atanu Ghosh
atanu.ghosh@bluebeaks.in

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 Genesis of Product Management
Product management is the practice of planning, developing, marketing and
continuous improvement of a company’s product or products.
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 - a “brand man” who is completely
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
management has been closely connected and typically found in companies
creating software.

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 What is Product Management
The main objective of product management is the development of a new
product.
Its ultimate goal is making sure you’re building the right product and building
the product right.

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 What is Product Management
Product management is linking the development team on the one side and marketing, sales
and customer success teams on the other side, while ensuring the process is aligned with the
business vision.
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.

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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
their areas. That’s why we can differentiate between inbound and
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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Inbound vs Outbound Product Management

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Product vs Project vs Service Management
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.
(UAV) partners
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Problem vs Solution Space

3 Idiots Space Pen Scene

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 Digital vs Physical Product

Digital products Physical products

are intangible goods or services are tangible items that can be
that are delivered electronically seen, touched and physically
and exist in a virtual or digital handled.
form.
They can be easily replicated, They require physical
distributed, and accessed through manufacturing, distribution, and
various digital platforms. storage.

Example: Example:
Software applications, training Aircraft, weaponry and physical
modules, and digital training equipment
communication tools

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 Digital vs Physical Product

Digital Products Physical Products

Nature: are intangible and can be Nature: are tangible and require
delivered electronically physical handling

Replicability: can be easily replicated Replicability: often require significant

and distributed without additional resources for production and
manufacturing costs distribution

Storage and Distribution: can be Storage and Distribution: need physical

stored and distributed electronically storage and logistics for distribution

Lifecycle and Maintenance: can be Lifecycle and Maintenance: have a

updated and maintained through specific lifecycle, including
software upgrades manufacturing, maintenance and
retirement

Training and Simulation: offer safe and Training and Simulation: involve higher
cost-effective training opportunities risks and operational costs during
training exercises 11
 Types of Digital Products

B2B
Product Only
External
Business
Digital
B2C
Product Product
Internal Enabled
Business

(Digital) Product Only and (Digital) Product Enabled Business

constitute the bulk of Digital Product Management space
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 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

Market Research and Technology Scouting:

• Conducting market research and technology scouting to stay abreast of
advancements in technologies, global trends and potential opportunities for
collaboration with others
• Helps in making informed decisions about adopting cutting-edge technologies and
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
• Effective vendor management ensures receiving of high-quality components within
the specified timelines and at reasonable costs.
…contd. 13
 Role of a Product Manager
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.
• Identifying potential risks, developing contingency plans, and ensuring that products
are designed with appropriate safety measures.
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 Disruptive Innovation in Products

Clayton Christensen studied the behaviour of such firms and

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

performance trajectory

• Disrupts incumbent’s value network

Can you apply this model in some of the well

known disruptions prior to the digital age?

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Thank You