The High Stakes of Physical Product Development Compared to Digital Products & How to Manage Risk
When we imagine the process involved in creating a product, most of us imagine making something with our hands. We might also think of large-scale factories with assembly lines made famous by Ford vehicle manufacturing plants. Today, we've moved beyond having only physical products. We also have an entire industry of digital products and software that we never physically hold in our hands, but we interact with using devices and the internet.
9 Effective Ways to Improve Collaborations in Product Development
Multi-stakeholder processes require collaborations to be effective. Think of your own company and all the different departments and teams involved in developing your products. You have your designers and engineers who create the ideas for the products or the new features that will be integrated. You have the entire production team that covers sourcing materials, manufacturing components, and assembly. Then, there’s the marketing team is in charge of promoting the end product. All these players have significant roles to fill that depend on each other, and no one can complete their work in isolation.
7 Headaches Every Product Manager Understands (And How to Make Them Disappear!)
The role of a product manager is a rewarding one, even if it's not always glamorous. You're busy balancing the opinions and priorities of different departments, trying to keep everyone on the same page while maintaining ambitious timelines. Still, despite these challenges, seeing a new product or variation on a feature launch into the real world from the ideation stage to the sitting-on-a-shelf stage is incredibly satisfying.
Webinar replay: Gocious product roadmap management
There are plenty of product roadmap tools out there today. Still, our research has shown there is a clear need to improve product roadmaps to ensure teams of teams are aligned, the entire portfolio meets strategic business objectives, and there is efficiency in re-using components and increasing innovation. Many roadmap platforms today:
- Organize teams around one product at a time, not your entire portfolio
- Are more focused to meet the needs of developing software rather than physical products
- Can force you into specific ways of working rather than being flexible enough to adapt to the unique requirements different manufacturers do have
Struggle to understand the dependencies of product content across your product teams and your overall organization
Product Management tools: today and tomorrow
Product Management plays a key role inside companies driven by their products; it’s instrumental for organizational growth and strategic market advantages.
What’s in a name? The different shades of Product Manager.
Product leaders as revenue growth drivers
Webinar replay: Tools for modern product management
The function of product management is evolving within manufacturing companies. Senior leadership is pressing for more growth, more innovation, more diversification, more market expansion. All of this falls in the lap of product management to figure out the path forward. It is more important than ever for product management to revisit the tools in their proverbial toolbox.
Webinar replay: Optimize your product fit using past performance
Launching a new product can be a bit like a science experiment. You have made observations and created a hypothesis with data that supports your claims. Next, the hypothesis gets approved so you launch the product thus testing it.
Now it ss time to draw conclusions and refine the hypothesis.
But this presents you with a problem. Your original hypothesis data is not the same as that returning from the real world. So what can you do?
Adapting Your Product Strategy Assessment for Today's Market
If you want your company to grow and expand, the key to success is a solid product strategy. Your product strategy must be flexible and nimble to quickly react to changing market conditions. Our research has found that product managers rarely use specialized tools to set the strategy of their portfolio. Today’s general productivity tools make it difficult for companies to track and make changes and set their product strategy to adapt to the changing market needs in an agile and efficient way.
5 Reasons you need a product planning tool as a product manager
Product Managers play a critical role in balancing what customers want with their company’s objectives when identifying products that will be successful. Once these projections are made, they then need to drive the team responsible for turning this vision into reality. However, successful product ideation is not a Product Managers’ only purview. Product Managers also help facilitate or make decisions on what the next generation of products and features should be.
EVC, a value-based pricing technique based on Competitive Analysis
Competitive analysis is a common practice to ensure your product is unique and competitive compared to others in the market. Once you have the breakdown of each product's differentiating features, you can perform an initial assessment on what price you could offer your product to the market using Economic Value to the Customer (EVC).