Product management teams rely on competitive intelligence and market research to plan out their product lines. But what happens when you try to line up your internal product definition with third-party market research. The data schemas don't match, so what do you do? How do you effectively analyze and compare your own products to your competitors’ when the data is different?
The Product Managers toolkit has traditionally relied primarily on general productivity tools like Excel, Word and PowerPoint. What happens when you make the change to something that has been specifically designed to help Product Managers?
An integrated approach to product management will increase collaboration between team members, data and software systems. Doing this helps to lower the risk of a product failure, while raising your teams efficiency and reducing your organizations time to market.
Doing an analysis on your competitive products is essential to making sure your planned products have the best chance of success in the marketplace. You must identify your strategic advantage and leave the competition in the rear-view mirror.
Do you use weighted scoring today to make product and feature decisions? Do you use your own scoring model? or a simple Pugh analysis? How do you factor in innate bias in the decision-making process of what products and features to build?
Gocious recently held a webinar to discuss why integrating product planning with PLM is essential. The webinar, available to watch on-demand, presented the benefits of integration for PLM and product planning. We discussed how Gocious can help with that integration and also digitally transforming the product planning process.
Gocious recently held a webinar to discuss the results and insights of a recent industry market research study that we conducted. The webinar, available to watch on-demand, presented some of the key insights that we uncovered. We ultimately discussed the ways manufacturers can optimize their product launch cycle times.
As a product manager, you are responsible for defining the "why" and the core of the "what" when planning a product. It is vital to understand your customers in and out to connect a product that meets their needs and wants; otherwise, you are just wasting time and money.
Topics: Product planning