Product Development Lead
The Product Manager is a mini-CEO for a single or a group of products with a deep knowledge of the market he focuses on. He sets the direction of the product and manages its lifecycle from idea to market. The product manager is a versatile generalist with the abilities to identify insights that inform opportunities to innovate its value proposition, build and launch the product with his team, and scale the usage through incremental innovation. Spot them neck-deep with their “baby” researching the competitors and users, planning the roadmap to serve a wider range of customers and their needs, and execute them with his team under his eagle-eye watch.
Phase 1 - Understand the Context
Explore and prioritize market segment to pinpoint the next opportunities.
Determine total addressable market size.
Map stakeholders to understand the context dynamics.
Create customer profiles and personas of key stakeholders.
Define criteria and recruit ideal research participants.
Conduct interviews with stakeholders.
Observe target in their environmental context.
Extract insights from research data.
Conduct benchmark research and best practices on similar solutions.
Map the existing experience journey of the stakeholders.
Define hypothesis to test and identify assumptions to validate.
Develop experiments to test hypothesis and validate assumptions.
Conduct market testing and validation with stakeholders.
Perform usability testing with target users.
Conduct A/B testing.
Identify price elasticity of demand of the value proposition.
Understand existing brand positioning in the market.
Phase 2 - DESIGN THE VALUE
Develop new value proposition.
Develop ecosystem of products and services.
Evaluate ideas to implement based on criteria.
Evaluate implementation feasibility of emerging technologies.
Define features to build as minimum valuable proposition.
Document solution requirements.
Phase 3 - ORCHESTRATE FOR GROWTH
Define and implement new growth strategy.
Develop new value chain system.
Define key metrics to measure progress.
Compare the benefits of new value proposition against the status quo.
Pinpoint new brand positioning in the market.
Forge collaborations and partnerships with complementary players.
Develop standard operating procedure and processes.
Allocate resources to implement and manage operations.