Learn more about business with this collection
Conducting market research
Analyzing data to make informed decisions
Developing a product roadmap
Nine out of every ten products launched fail because they did not achieve their sales goals and in many cases, this happens because of the lack of a proper product management process and a professional to manage it.
The product manager has a mission to solve the problems of consumers and therefore, they need to know who the target audience of the product is, what their problems and challenges are, and be smart enough to propose real solutions.
To hire a good product manager, a good place to start the hunt can be within the company itself. Your future product manager can be in any department.
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The PM has 2 primary responsibilities: Assess opportunities for product development and define the products that will be built to fit these occasions.
The PM needs a productive team around to achieve this:
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Adapting features indiscriminately to please specific customers, ends up making the product less attractive to the market and hampering its long-term success.
Product improvement should begin with an understanding of what your goals are. You should understand the most important prod...
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Winning products come from the deep understanding of the user’s needs combined with an equally deep understanding of what’s just now possible.
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To help with making hard decisions, you need to create a set of product principles.
Principles should be specific enough to help guide decisions about functionality, target audience, etc.
Another great tool to use in product management is the use of personas: fictiona...
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To create a good product, engineers need to build it, consumers must use it, and the product must be valuable for consumers to buy.
To prove this, the PM must use a navigable prototype that offers a minimally realistic user experience so that users can test it. Involving en...
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Goal is to create a prototype with which anyone can interact to understand the product without necessarily having to look at its specifications. To prepare this, you will need volunteers.
Bring them together from every source you can: friends, family, classifieds ads. Define which tasks yo...
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To understand how best to exploit these opportunities, you need to use a list of questions proposed by Cagan. The key issues are:
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The PM must work intensively with a design team:
The interaction designer works to understand the requirements and way of thinking of the target audience, and creates a prototype, also called a wireframe, based on this understanding.
The visual designer contributes the visual interfac...
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Be present in every client interview and usability test. Keep your focus on identifying customer needs and find out for yourself how to meet those needs.
An excellent way to gain customer insight is through the user relationship program focused on solving a particular problem.
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Other curated ideas on this topic:
This is where teams work intensively to align their ideas, define the ‘product’, execute, review, iterate; the most exciting and creative part of the hackathon where employees forget their formal roles and titles and self-organize focusing on their mission: to create something novel and...
You successfully launched your new product to the market and after a week customers are calling because they are having issues with it.
Who do you gonna call?
Ghostbusters?
Nah, technical support can give you peace of mind whenever this kind of call rings your hotline.
A business model refers to a company's plan for making a profit.
A busin...
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