If you’re organisation is looking to roll out Product Management training, MAKE SURE IT STICKS!!! The number of times we have introduced product management to an organisation only to see it fail are too numerous to mention… So the question is why???… Why do companies invest thousands of dollars in the training of their staff […]
Product Managers tend to cop it from all directions – generally because they are trying to balance competing interests… How often have you heard Sales people say about Product Managers, “They have no idea, sitting in their Ivory towers, never having to deal with irate customers”? Or an Engineer complain that the Product Manager, […]
Selecting the right person or team of staff, for your product management roles is quite an important step. Product managers are like mini CEOs of a product so their skill set needs to be very broad. It’s valuable to understand that new product developments are a daunting task, continually impacted by challenges including conflicting […]
It’s a magic ball question – isn’t it? If we could map the future trends well in advance our profit making efforts would be much easier… But without a magic answer we hope to give you some points to think about… Point 1: Return on Capital First you should agree on what is the priority […]
Hi there… as you start on this here are some suggestions but I will make a few assumptions related to the new product development (NPD) process first. You have completed some market review and know what the customers want, you have done the business case and have funding and you do have requirements document […]
As a first point let’s explain the Parcus Group approach to pricing (well not only pricing but to many other aspects of product design). We call it triangulation – using information from 3 sources in order to get to a best decision: Source 1: Your own internal costs You must understand your own business […]
When entering a new geographical market there are few tasks to complete such as: 1. Define the market (is it any company in the country or only SMEs or only certain vertical etc) 2. Establish market demand (how many potential customers…) 3. Market share review (who are key competitors, their market shares etc…) 4. […]
At the high level product requirements development must be: 1. customer needs driven 2. every key requirement should ideally be contributing to creation of some sort of differentiation and 3. gathering should be done collaboratively ie. not only by product managers but in a team with other business units stakeholders From what I have […]
Very often a question is asked about the role of product manager in project management. How much should product manager do or leave to other team members? In our experience it will depend on the company size and their business units structure. Refer to below PMI matrix for more info. Fundamentally if […]
This is another very commonly asked question. The process is actually very easy. It would include development and team agreement on some key criteria such as pain for users, % of customers impacted, revenue potential etc… Once you have the criteria, you will need to weight then – the sum of weight needs to 100% […]
We get asked this often but sometimes it is not only about the questions you get asked in an interview – but about the questions you ask back. Product management job is a leadership role – it’s your product, your business, your profit and cost – you are the CEO. So in an interview […]
Typical product management roles should include some or all of the following key performance indicators (KPIs): 1. Product development activities (new features, market share, growth etc…) 2. Financial performance measures (profit, margin, costs, ROI…) 3. Service improvement measures (customer satisfaction…) Here is an example KPI structure for a Telecom Product Manager:
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