Product lifecycle is short: build products that matter
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Product Lifecycle Is Short: Build (smart) Products That Matter
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Transcript of Product lifecycle is short: build products that matter
Product Lifecycle Is Short: Build (smart) Products That Matter
I am Moriya KassisI am a Product Management consultant and a Venture Associate. I am the Head Organizer of ProductTank Tel Aviv.I basicly seat in both sides of the table.You can find me at [email protected]
Hello!
Our agenda for today:
◉Let’s talk about products◉What is Product Management and what is it
good for◉The relationship between Product
Management and Engineering
◉How do GOOD PRODUCTS come to the world
Feel free to ask Qs. This is bullshit-free zone.
Let’s talk about productsWhat, how and most importantly: why
1
“
A product is the transformation of a market opportunity into something
people are willing to pay for
Smart, connected products have three primary components;
Physical component, Smart component,
and connectivity
The top required factors for the success of a new product are a good understanding of:
competitive environment
customer needs and
wantsnature of
the market
So you want to create a smart product. Great. Now what?
We build products in the era of products, when a product is more than its tech and a smart product has to deliver some real value to its users.
Are you up for the challenge?
You have to make every single detail perfect and you have to limit the number of detailsGood Amazon Echo Dot
Bad WeMo Mr. Coffee
Working on the right problem and solution is more important than working hardGood Pella Insynctive Bad Hi WiFi home-
security
Think like a customer
Good Fisher-Price Smart Connect 2-in-1
Bad Cisco Umi
“There is just one problem. No one wants to pay a whopping $600 for a one-trick-pony set-top box, never mind the dumb $25 monthly fee. With free services like Skype and FaceTime already available for our phones, tablets and laptops, Umi is destined for the gadget scrap heap.”
“a device that includes a mobile and a projector, plus a slew of extra features to sweeten the deal -- all for the surprisingly affordable $70. It certainly isn't a must-buy product, but for most parents, the Fisher-Price Smart Connect 2-in-1 Projection Mobile offers a solid long-term investment.”
A user interface is just like a joke. If you have to explain it, it’s not good enoughGood Belkin WeMo Switch
Bad Digitsole SmartShoe 01
Make something people want
Good Witricity Bad Belkin Smart Slow Cooker
What is Product Management and what is it good for
2
Product Managementis an organizational lifecycle function within a company dealing with the
planning, forecasting, and production, or marketing of a product or products at all stages of the product lifecycle. It integrates people, data, processes and
business systems.
If I need you to end this day with one thing in your mind, it will be the following :
Talk to the customer; Nurture a project culture; Keep it focused
The relationship between Product Management and Engineering Design
3
Engineering Designis the process whereby a technical solution
is developed iteratively to solve a given problem
70-80% of the final product quality
Previous research shows that
And 70% of the product entire life-cycle cost are determined in the product design phase
therefore the design-manufacturing interface represent the greatest opportunity for cost reduction.
How do GOOD PRODUCTS come to this world
4
The 3 musketeers:Incremental, platform and breakthrough products
Breakthrough products
are new to the company or new
to the world
Incremental products
are considered to be cost
reductions or, improvements to existing product
lines
Platform products
establish a basic architecture for a next generation
product or process
Our process is (not) easy:
Understand and observe the market, the client,
the technology
and the problem
Visualise new
customers using the product
Synthesize the
information collected at the first step
Prototype, evaluate
and improve
the concept
Our process is (not) easy:
This is why we need the gates.The gates are:
Opportunity screening
Idea evaluation
Go/No-Go for development
Studio time:
Let’s use some of Keter’s products as use opportunities to learn from:
1. Choose a product you worked on in the last year or two
2. Go over the mentioned process and analyze the process:What was the need? How could we make the process better?
3. Get ready to present it in front of our amazing audience
It’s personas time!
