Deciding what products and features to offer to your customers requires a clear understanding of your markets. Once you identify market segments, you can propose different product configurations to meet each segment's needs. You can perform an analysis of your products side-by-side against your competition in each segment to see how the segment is being served and find opportunities for new and improved products.
As a product manager, you go through many communication channels to understand your market's needs and define the future product. You collect the information, formulate the product, and complete the product plan, representing many days and months of work. The work doesn't stop there though! Once the product is defined, the product managers face the challenge of communicating the product plan with the broader organization and keeping everyone informed of any changes.
At Gocious, we realize that providing easy access to a central repository, where your stakeholders can get the information they need, about the product's future with a click of a button is essential. From leadership to marketing and engineering, many stakeholders need to always have ready access to the product information without the need or fear of making adverse changes to the product plans.
Now with Gocious, you can invite your stakeholders into your workspace as a viewer. The viewer role allows the user to view the product configurations, features, and reports. They can also export reports in PDF and Excel. However, they would not be able to edit or change any information in the system.
We are excited to announce that we now provide unlimited viewer roles free as part of our Portfolio+ offering subscription.
The success of product teams can boost the performance of a business. Providing the capability to enable and speed up communication provides a powerful way to align the organization and receive valuable feedback from all parts of the company.
Get started with our free trial and boost your product communication power.
Our previous article, we explained how Gocious' Weighted Product Score can help you determine how well your product meets market and business constraints. With our new release, you can now identify how specifications are impacting your overall product score. With this new feature, you can detect and address underperforming specifications to improve your overall product fit.
Creating your product line on a digital platform at first seems easy. You open a spreadsheet, create a column for each product, add features on rows, and specify whether the features are standard, optional, or unavailable in the cells. Seems straightforward until relationships become complex, products and features grow in quantity, and more importantly, you need to analyze different scenarios. That’s where Gocious makes a difference. With Gocious, you can create product lines fast, re-use features from a central library, configure complex relationships with ease, and now copy a product and make changes to create a new product in the same line. With this capability, you can copy all the product definitions, including features and their configuration, instead of starting from scratch.
Here at Gocious, we realize how significant the value of a brand is to our customers. A company brand brings more credibility and marketing leverage and brings a sense of pride, ownership, and belonging. Not to mention, branding your space gets you out of trouble with the marketing and branding team!
To meet your customers' demands as a discrete manufacturer, you need to create a product line with various products and options with many possible configurations. Designing your product line for your customers in a way that is not confusing and in the same time meets their personalization needs can be a challenge. Visualizing entire product lines is a way to ensure it is serving the market needs and is easy to understand from a customer's perspective. It is also an essential tool to strategically communicate what is being built and how it serves the market, enabling everyone inside the organization to stay aligned and informed.
Does this sound familiar? You're deep into a new product development process and heads down working on executing the product plan. Suddenly, you realize discrepancies in the products and feature definitions, the timelines to launch them, and their configurations. A myriad of spreadsheets, text documents, and presentation files stored in different places make it confusing to navigate as you are not sure what the latest approved decisions and definitions are. This means that now is the time to stop what you're doing and jump into the 'data scramble' and send a deluge of emails to product planning and product management teams to get the answers you need with a definitive picture of the product line.
Products are becoming more and more complicated—and manufacturers are having a harder time keeping up. 92% of manufacturers have reported that their products have become more complex over the last half-decade. This complexity isn’t limited to incorporating the software and circuitry that comprise the IoT—even purely mechanical designs have become more intricate.
The hallmark of a good company is that it’s sensitive to the ways in which users want them to improve their products. The benchmark for sensitivity, however, has changed dramatically over the past few years. Product lifecycles are much shorter—across manufacturing industries, companies now derive more than half their revenue from products less than three years old. In other words, product planners need to begin adopting an Agile mindset iterating the new and improved version of their product almost as soon as the Mark One version hits the shelves.
If you're a manufacturing product planner, designer, or engineer, join us on Thursday, July 30, 2020, for our first webinar: Customers want customization...but do they want the options? In this webinar, experts from JATO Dynamics market research and Gocious product decision analytics will explore and discuss trends around customer behavior in manufactured products.