The Value Map, a product managers ally in assessing products position in the market
As a product manager, knowing the value of your products in the market is a never-ending pursuit. It is a fundamental gauge to determine whether the product needs changes and how best to position it in the market. There are different methods to assess value and use that to determine how to position the product. However, in this article, we will focus on Value Map, which is a tool to assess the positioning of your product in terms of price and customer value compared to the competition.
Competitive Assessment: How does your product stack up?
It's a critical step in business; you have to know what you're up against to chart a course to success. Yet every year, many new products miss the mark, while others in the same market seem to have runaway success. What is it that sets these products apart? Technical capability? Marketing magnificence? Unimaginable innovation?
Just Released: Competitive analysis matrix and product repository
Staying competitive means keeping an eye on your competitor’s products and ensuring that your products have a clear differentiating feature against them. Competitor’s products go through changes. Keeping your records up-to-date and regularly revisiting your side-by-side comparison charts is essential in ensuring your product is still staying ahead of its competitors.
Just Released: Archiving your Product Lines
Product lines sunset. Your teams need a space to experiment, learn, and review alternatives for a short period. You want to improve your product line organization. The feedback we receive from our users form the basis of how we improve our software. This is no exception.
Just Released: Viewer Role
As a product manager, you go through many communication channels to understand your market's needs and define the future product. You collect the information, formulate the product, and complete the product plan, representing many days and months of work. The work doesn't stop there though! Once the product is defined, the product managers face the challenge of communicating the product plan with the broader organization and keeping everyone informed of any changes.
At Gocious, we realize that providing easy access to a central repository, where your stakeholders can get the information they need, about the product's future with a click of a button is essential. From leadership to marketing and engineering, many stakeholders need to always have ready access to the product information without the need or fear of making adverse changes to the product plans.
Now with Gocious, you can invite your stakeholders into your workspace as a viewer. The viewer role allows the user to view the product configurations, features, and reports. They can also export reports in PDF and Excel. However, they would not be able to edit or change any information in the system.
We are excited to announce that we now provide unlimited viewer roles free as part of our Portfolio+ offering subscription.
The success of product teams can boost the performance of a business. Providing the capability to enable and speed up communication provides a powerful way to align the organization and receive valuable feedback from all parts of the company.
Just released: See the impact of specifications on your product score
Our previous article, we explained how Gocious' Weighted Product Score can help you determine how well your product meets market and business constraints. With our new release, you can now identify how specifications are impacting your overall product score. With this new feature, you can detect and address underperforming specifications to improve your overall product fit.
Just released: Tracking changes of your product line configuration
We are excited to introduce the Change Report into the Gocious product portfolio management solution. The Change report is a feature that enables the comparison of product line plan versions and increments to gain visibility into what has changed from one to the other, with just a click of a button.
Webinar replay: Using competitive analysis in your product planning
Doing an analysis on your competitive products is essential to making sure your planned products have the best chance of success in the marketplace. You must identify your strategic advantage and leave the competition in the rear-view mirror.
Just Released: Introducing Product Cloning to make product line creation faster
Creating your product line on a digital platform at first seems easy. You open a spreadsheet, create a column for each product, add features on rows, and specify whether the features are standard, optional, or unavailable in the cells. Seems straightforward until relationships become complex, products and features grow in quantity, and more importantly, you need to analyze different scenarios. That’s where Gocious makes a difference. With Gocious, you can create product lines fast, re-use features from a central library, configure complex relationships with ease, and now copy a product and make changes to create a new product in the same line. With this capability, you can copy all the product definitions, including features and their configuration, instead of starting from scratch.
Just Released: Personalize your Gocious workspace with your own brand
Here at Gocious, we realize how significant the value of a brand is to our customers. A company brand brings more credibility and marketing leverage and brings a sense of pride, ownership, and belonging. Not to mention, branding your space gets you out of trouble with the marketing and branding team!
Improving your product fit using weighted score
Deciding on what products and features to offer to the market requires an understanding of your business and customer needs. At times, you need to strike a balance between multiple factors to come up with a product that best meets those needs. However, the factors requiring consideration are often competing with each other.
Creating an agile product portfolio roadmap
There has been a recent change in the market, and you need to analyze your product line and plan a change to the current features and products immediately to address the market in 3 months.