Product Strategy and Product Success
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This presentation discusses how you can leverage the innovation strategy and the product lifecycle to get your product strategy right and achieve product success; how to make your product stand out from the crowd; and how you can effectively capture your product strategy.
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Product Strategy and Product Success
- 1. © 2016 Pichler Consulting Ltd Product Strategy & Product Success Roman Pichler @romanpichler romanpichler.com
- 2. © 2016 Pichler Consulting Ltd About Roman • Product management consultant, teacher, and author – 15 years experience in teaching and coaching product managers and helping companies establish an effective product management function – Specialised in agile and in lean practices • Business owner and product manager – I try to walk my own talk Product Strategy and Product Roadmap Practices for the Digital Age STRATEGIZE ROMAN PICHLER My books
- 4. How can we tell it is likely to achieve this ...
- 8. © 2016 Pichler Consulting Ltd The Product Strategy Defined Market and Needs Product Strategy Business Benefits Stand-out Features
- 9. Vision Strategy Tactics © 2016 Pichler Consulting Ltd Vision, Strategy, Tactics
- 10. © 2016 Pichler Consulting Ltd Business vs. Product Strategy Company Vision Business Strategy Product Vision Product Strategy
- 13. Disruptive Innovations © 2016 Pichler Consulting Ltd Adjacent Innovations Based on: Bansi Nagji and Geoff Tuff “Managing your Innovation Portfolio”, Clayton M Christensen “The Innovator’s Dilemma“. Core Innovations Innovation Ambition Matrix
- 14. © 2016 Pichler Consulting Ltd MacBook Google Search Apple Watch Google Chrome iPhone 2007 Nintendo Wii Examples
- 16. Take into account the life cycle stage of your product.
- 17. Intro- duction Growth Maturity Decline Launch Product- Market Fit End of Life Life Cycle Extension Develop- ment © 2016 Pichler Consulting Ltd BusinessBenefits Time Based on Theodore Levitt “Exploit the Product Life Cycle”, Youngme Moon “Break Free from the Product Life Cycle”, and Geoffrey Moore “Crossing the Chasm”. The Product Lifecycle Model
- 18. 0 10000000 20000000 30000000 40000000 50000000 60000000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 © 2016 Pichler Consulting Ltd iTunes launched iPod Shuffle, iPod Nano, iPod Classic with video iPod Mini, iTunes goes international iPod Classic discontinued iPod Lifecyle iPod Touch Windows compatible Introduction Growth Maturity Decline
- 20. Make your product stand out.
- 21. iPhone 2007 Smartphone industry © 2016 Pichler Consulting Ltd High Low Based on W. Chan Kim and Renée Mauborgne “Blue Ocean Strategy” and Islam, Nazrul and Sercan Ozcan "Disruptive Product Innovation Strategy: The Case of Portable Digital Music Player”. Strategy Canvas
- 24. © 2016 Pichler Consulting Ltd Target Group ProductNeeds Business Goals Vision Which market does the product address? Who are the target customers and users? What problem does the product solve? Which benefit does it provide? What product is it? What makes it special? Is it feasible to develop the product? What are the desired business benefits? Which one is most important? What is your vision, your overarching goal for creating the product? © 2016 Pichler Consulting Ltd The Product Vision Board
- 26. Put it to the test.
- 27. Build—Measure—Learn 1. Select the biggest risk. 2. Decide how to address it. 4. Persevere, pivot, or stop. © 2016 Pichler Consulting Ltd 3. Collect the data. Product Strategy Based on Eric Ries “The Lean Startup”.
- 28. © 2016 Pichler Consulting Ltd Timebox the Validation Work Time box Initial strategy Idea Changed strategy Validated strategy After some testing and research After more testing and research
- 29. Learn from failure and celebrate success.
- 31. © 2016 Pichler Consulting Ltd You can find more information at: romanpichler.com Thank You! © 2016 Pichler Consulting Ltd I look forward to your questions: info@romanpichler.com @romanpichler