How to Use Product Segmentation to Enter New Markets
Every product manager knows they must meet their target audience's needs to succeed. However, they also know that while consumers may ask for a laptop computer, not all their needs will be the same. For example, a customer who loves to play online games will value a powerful CPU and pay more for a smooth experience, while a college student majoring in the arts will value a lightweight model that doesn't add bulk to their stuffed bag. They only need their laptop for general use, and they will not pay more for additional speed or memory.
5 Mindset Shifts to Make When Adapting to Lean-Agile Approaches
With the increasing number of products introducing software components and the constant appetite for new customer features, many companies are looking to adopt Lean-Agile approaches for product development to stay competitive. Many resources out there help lead companies towards Lean-Agile approaches, such as the SAFe Framework, which helps companies of all sizes make Lean-Agile methods work for them, no matter the scale of production. But adopting any new method also requires a shift in mindset. Here are five mindset shifts to help product managers confidently make the switch.
Is a Product Roadmap Contrary to Agile Philosophy?
In the product development world, there are various opinions on Agile Philosophy. Should organizations use it? Does it work for manufacturing complex products? Is it scalable for large companies?
What Is Systems Engineering and Why Product Managers Need To Care
In today's technology-driven world, the products we use every day are an increasingly complex mix of software and hardware components. Developing these modern products requires multiple resources, including personnel and components, to build them; systems engineering is the process that brings these different resources together to create a finished product. Product managers must be in tune with systems engineering so they can navigate the many challenges of modern product development.
How Frequently Should You Update Your Product Roadmap?
One of the biggest lessons that product managers learn is that their roadmaps are not set in stone. You can create a product roadmap with the relevant phases and plans, set the milestone timelines, and share access with all stakeholders. However, roadmaps still require continuous management and regular updates. These updates must also be shared with the relevant teams working on each product to inform everyone of the product strategy and prevent operational silos.
Why It’s Important to Track the Phasing In and Out of Features on Your Roadmap
Very few products stay the same year to year, let alone decade to decade. The components, materials, and designs change and evolve. Sometimes, this is due to consumer demand or innovation; other times, it results from resource shortages or supply changes. When a product team knows in advance that a certain component will no longer be available, this is called phasing out.
How the Role of the Product Manager in Hardware Is Evolving
Product managers have traditionally been viewed as intermediaries tasked with understanding customer requirements and translating them into products and features that engineers and product teams understand. However, the rapidly evolving landscape of hardware development has resulted in a significant transformation of the product manager's role, requiring them to step into more prominent positions of leadership and innovation to build successful products.
Living in a Hybrid World: How Product Managers Can Navigate Stage-Gate, Agile, and Hybrid Models
In the product development world, different companies use various methodologies to plan, build, and launch their product lines. Some continue to use the traditional stage-gate methods of making and testing complete prototypes over several years before launching to the market. These companies typically have large-scale, complex physical products such as vehicles, machinery, or massive software programs.
What Is the Role of AI in Product Development?
Although AI is a newly emerging trend, its applications are already found to be beneficial in multiple industries. In product manufacturing, AI is particularly useful in improving product development processes, predicting customer preferences, and automating laborious tasks.
How to Develop a Product Line: Clone & Own vs. Platforming
Every company that has developed a product their customer loves wants to repeat the same success. It feels good to know your market and deliver value. Some product teams think about long-term success and put plans in place from the initial design. They know that if their product is successful, they’ll want to create other versions. Even companies who haven’t planned in advance to replicate their products still have a choice to make between these two methods.
7 Tips to Improve Internal Stakeholder Management
Effectively managing stakeholders is essential for success as a product manager. This involves communicating and consulting with various stakeholders with different responsibilities in the product's development. Without the support of the internal teams, achieving product goals can be challenging, if not impossible. To overcome this challenge, product managers must have certain skills and develop a communication strategy to persuade stakeholders to contribute to the product goals and align with the company's vision.
Why You Need These 3 Players When Transitioning to Agile
Product managers are responsible for presenting the best possible products to their executive and finance teams for approval. The best products will align with the company goals and have the right features to satisfy market demands. These decisions require strategy, research, and a team of great players working together. As many manufacturing companies shift from the traditional stage-gate process to an agile product development process, three key players are essential team members who support the product manager and the product teams: the product owner, the scrum master, and the lead developer.