Product Management, Development and Strategy
Product Management, Product Strategy
Everything regarding products belongs to the core competency of a company. However, sometimes it just stops here with product management. Does this sound familiar? In day-to-day business with many presales agendas, strategic planning disappears, the R&D department runs away, the service department insists on “only I know my customer best,” the sales department gets too little support, and product management and marketing does everything except product marketing.
There are many approaches to an optimal product management framework—process oriented or pragmatic by function. Depending on the industry, it is advisable to develop a company-specific model. On the one hand, the framework defines the various stages like product lifecycle management, product roadmap processes, user experience and product backlog; while on the other hand, it dictates the interaction with the individual business areas such as marketing, R&D, finance, sales, etc.
The old “Waterfall” method is out; “Agile” is in. Or did “Flow” already take the helm? How much Agile can a company tolerate? How does one implement Agile working methods in non-IT companies like hardware development? What are the acceptable methods and how should they be applied?
The process landscape includes strategic aspects such as the implementation of business case documents, innovation management, market strategies, roadmap planning, as well as the operational implementation of launch plans, marketing plans, and end-of-life plans. In the Agile world, feedback from the process phases—from idea to development, launch, market,retiring—play an important role.
New Products and Innovations
Whether business modeling according to the classic or canvas principle, there is no approach without product management as the main discipline. This involves value proposition design, sales markets and positioning of new product and services, incremental and radical innovation in the product area, customer backlogs, pricing, revenue streams, service creation partners, and system partners in a broader sense.