This course is dedicated to one goal:
Help organizations reduce product and/or service failure and enhance the chances of product success. The course is for anyone who is responsible for success including new products or revisions. The result is an actionable plan.
Studies have found that 40 percent of products fail for a multitude of reasons. All too often, product failures lead to company failures also. In 2014 alone, over 600 billion ($0.6 trillion) dollars were wasted, and that number continues to grow each year.
Part of the reason for this failure rate is that within the organization they lack some of the 130 competencies required for product success. These workshops provide the training for those competencies.
The course starts with the keys to product/services success, then covers the product’s market strategy, and finishes with the fundamentals of marketing.
The first year covers the basics of the keys to product success, design thinking, innovation, history of product management, the product management lifecycle, product success competencies, being customer-centric, the company values and vision, customer journey, the changing business environment, tools, and careers.
The second and third year covers the product’s market strategy including understanding what the customer wants to do, how to do market research, innovation methodology, markets and sizing, value proposition, personas, adoption cycles, segmentation, total addressable market, competition, positioning, roadmaps, portfolios, channels, sales forecasting, budgeting, ROI, intellectual property, product descriptions, market penetration, analysis, and training.
The fourth year covers metrics and completing the product market plan and then moves on to marketing with understanding the differences between markets, marketing strategies, the eleven Ps of marketing, how to generate sales leads on the Internet, media, and mix, messaging and content, packaging, bundling, promotions, marketing communications, budgeting and scheduling, and finishing on metrics.
The principal author of the workshops has over fifty years of experience starting in 1969 and across a range of hardware and software products including at Hewlett-Packard and Apple. Each combines the best of lectures, student exercises, examples, discussions, and quizzes.
Thousands worldwide have taken these workshops since 2012.
Much of what is in these workshops is not taught in most MBA or business school programs. It is the “secret sauce” of product success. As a result, many in business repeat the same mistakes over and over again which just continues product failure because that is the way we did it before.
The workshops teach what needs to be done for product success and how to do it. It provides the basis for product ideas coming from inspiration, vision, technology, or ideas to be successful.
The workshop includes unique success ideas and insights the principal author has acquired through the years and experience. They include:
1. The Six Keys to Building Insanely Great Products. While most “experts” usually talk about the three keys to product success: Plan, Process, and Information, I’ve added People, Customers and Systems
2. How to do market research by observing “dos”, conducting interviews, surveys, and utilizing big data
3. The importance of customer loyalty and building insanely great customers
4. A new innovation methodology
5. Using personas for development, not just marketing
6. Identifying the value proposition before starting development
7. In addition to listing your product’s features, advantages, and benefits, including what task it is trying to accomplish, and the problem that each feature solves
8. An improved way to do feature prioritization for development
9. A novel way to estimate market sizes
10. The importance of correct market segmentation
11. Product positioning based on what is important to the customer, not some arbitrary criteria
12. Doing competitive research on products and on the competing companies plus updating a time of product release
13. Developing multiple product roadmaps for different uses and purposes
14. The importance of having the right information at the right time
15. Ensuring that you have the marketing and sales channel to cater to the geographical area where your customer lives
16. A new product lifecycle management framework
17. Taking the customer journey, the digital transformation, and the need to build insanely great customers into account while doing product planning.
18. Also, keeping in mind future considerations of how social, political, environmental, economic, technological, and governmental trends will impact building insanely great products
19. Considering employees as an asset and not a liability
20. Having the right computer systems and tools to get the job done and being trained on them
21. Understanding how to organize the function of product success managers and how to ask for the authority
This course teaches each of the topics depicted in the framework below to enhance the prospects of product and/or services success.
The course is based on over 50 years of experience managing products and services covering hardware, software, internet, video, computer-based training, mobile, advertising, manufacturing, and Software as a Service.
The course includes 48 workshops. In the future, more advanced workshops could be provided in each topic area.