Pcamp09
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The document outlines a process for deciding which ideas move forward into each phase of product development. It discusses who is involved in making decisions at each phase, such as the Product Manager, Product Board, and CEO. It also states that it is acceptable for most ideas to fail and not advance, and lists potential sources of ideas both internally from employees and externally from customers, partners, and industry sources. A framework is presented for evaluating existing and potential new products based on their market share and growth rate.
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Pcamp09
- 3. How (process and success metrics) and who (Product Manager, Product Board, CEO) makes the decision at every phase?
- 4. It is OK to fail. Actually good if an item doesn’t go to next phase. If most ideas are becoming products you are it wrong.
- 5. Internal Ideas: from sales, dev, mktg, execs, support, experts, Product Board, site analytics
- 6. External Ideas: customers (feedback, usability testing, survey, directly listening to), partners/suppliers, competitors, industry sources (experts, blogs, magazines, tradeshows, conferences), market and demographic analysis, other industries’ best practices, etc.
- 11. For Target Customer Who Problem / Pain ( “must have” not “nice to have”) The Product Name / Product Category That Solution / Key Problem Solving Capability Unlike Competitors / Alternatives Our Key Differentiators / Product Features Product
- 13. Balance Strategic Offs Trade
- 14. 20%- Market Growth Rate Question marks Stars 4 ? 2? 18%- 1 3 16%- 14%- 5 Invest Accelerate a Few Divest Most 12%- 10%- Dogs 8%- HarvestCash cows 8 6%- 7 4%- 6 2%- Liquidate 0 .5x .4x .3x .2x .1x 10x 4x 2x 1.5x 1x Relative Market Share
- 15. Current Future Products Products Current Market Product Markets Penetration Development Market Future Diversification Development Markets