How can Product Management help you?

Product Management is an organizational lifecycle function within a company dealing with the planning, development and marketing of products or services at all stages of the product lifecycle.

“There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things.”
~ Machiavelli

This is what trained, experienced Product Management professionals do for their organizations and customers.

Product management (inbound focused) and product marketing (outbound focused) are different yet complementary efforts with the objective of maximizing sales revenues, market share, and profit margins. While these are always core success factors for any organization, the current economy has raised them to mission critical in most organizations.

The role of product management spans many activities from strategic to tactical and varies based on the organizational structure of the company. Product management can be a function separate on its own or a member of marketing or development. While the profession is called Product Management, it focuses on developing both Products and Services.

At iCreaTech we focus on the Solution Development Life Cycle. The SDLC focuses on the core products, wrap around services and all the complimentary enabling elements needed for a successful solution launch. Like what? Marketing materials, pricing, channel partnerships, training and underlying process and system enhancements to enable the organization to successfully launch and efficiently support the new solution in an evolving marketplace.

“According to the Product Development and Management Association (PDMA), superior and differentiated new products – ones that deliver unique benefits and superior value to the customer – is the number one driver of success and product profitability.”
~ PDMA

At a high level, the Solution Development Life Cycle (SDLC) includes:
● Identifying new business, product & service opportunities (As Is, To Be, Gap Analysis)
● Gathering market requirements from customers, prospects, competition, legal & environment
● Generate creative solutions to close the gap, meet the market & business needs
● Determine business-case, feasibility, ROI, metrics & recommended solution
● Scoping, define & design the new solution
● Develop the solution, and prepare for market launch

For a more robust vision of the Product Management & Marketing profession, visit Pragmatic Marketing to see their Framework. Having studied with Steve Johnson and other experts at Pragmatic Marketing, we understand and appreciate the vision and evangelism they have provided for the relatively young profession of Product Management & Marketing.