Product Management
TBD
- vs. Project Management
- Metrics | KPIs
- Frameworks | Best Practices
What is Product Management?
Product management is a discipline within a company that is responsible for guiding the development and strategy of a product or product line throughout its lifecycle. Product managers are responsible for understanding customer needs, defining product requirements, and collaborating with cross-functional teams to bring the product to market.| Product Management Frameworks | |
|---|---|
| Agile | Agile is a framework for software development that emphasizes flexibility, collaboration, and iterative development. Product managers often use Agile to manage the development of new software products. |
| Lean Startup | The Lean Startup framework emphasizes rapid experimentation and customer feedback to guide product development. It is particularly well-suited for early-stage startups and new product development. |
| Design Thinking | Design Thinking is a problem-solving framework that focuses on empathy, user research, and iterative prototyping. It is often used in product development to ensure that products meet customer needs and are easy to use. |
| Stage-Gate | The Stage-Gate framework is a product development process that is divided into discrete stages, or gates, that must be passed before a product can be launched. It is often used by larger organizations to manage product development at scale. |
| Product Lifecycle Management (PLM) | PLM is a framework that focuses on managing a product throughout its entire lifecycle, from ideation to retirement. It helps product managers ensure that a product is meeting customer needs, is competitive in the market, and is profitable for the company. |
| Jobs-To-Be-Done (JTBD) | JTBD is a framework that focuses on understanding the “jobs” that customers hire products to do. It emphasizes that customers don't just buy products, they hire them to solve a specific problem or accomplish a specific goal. Product managers can use JTBD to develop products that meet specific customer needs and to identify areas for product innovation. |
| Product-Market Fit (PMF) | PMF is a framework that focuses on ensuring that a product meets the needs of a specific market. It involves testing and iterating on a product until it meets the needs of a target market and achieves significant user adoption. PMF is often used in early-stage startups to guide product development and ensure that the product is viable before investing significant resources. |
| Kano Model | The Kano Model is a framework that helps product managers prioritize product features based on their impact on customer satisfaction. It categorizes product features into three categories basic, performance, and delight. Basic features are necessary but don't increase customer satisfaction, performance features increase customer satisfaction linearly, and delight features have a disproportionate impact on customer satisfaction. |
| Product Development Lifecycle (PDLC) | The PDLC is a framework that guides product development from ideation to launch. It is similar to the Stage-Gate framework but is more focused on the product development process than on the specific stages or gates. The PDLC helps product managers ensure that a product is developed efficiently and effectively, meeting customer needs and business goals. |
| Lean Analytics | Lean Analytics is a framework that helps product managers identify and track metrics that are critical to a product's success. It emphasizes a data-driven approach to product development and encourages product managers to use data to guide decision-making. |
| Customer Development | Customer Development is a framework that focuses on understanding customer needs and validating product ideas through customer feedback. It involves testing and iterating on a product idea with a small group of early adopters before investing significant resources in development. |
| Business Model Canvas | The Business Model Canvas is a framework that helps product managers define and communicate their product's value proposition, target market, revenue streams, cost structure, and key partnerships. It is often used in the early stages of product development to ensure that a product idea is viable before investing significant resources. |
| Product Discovery | Product Discovery is a framework that emphasizes the importance of understanding customer needs and market trends before investing in product development. It involves a rigorous research process that includes customer interviews, competitive analysis, and market research to identify market opportunities and customer needs. |
| Outcome-Driven Innovation | Outcome-Driven Innovation is a framework that focuses on understanding the outcomes that customers want to achieve and developing products that help them achieve those outcomes. It involves identifying the desired outcomes, measuring the importance of each outcome to customers, and developing products that help customers achieve those outcomes. |
These frameworks are not mutually exclusive, and product managers may use a combination of them to guide their product development processes. The choice of framework will depend on the company's specific needs, goals, and product development stage.
Related:
- Product Manager
External links:
- What Is Product Management? A Beginner’s Guide — theproductmanager.com
## ToDo ##
- Support Us... →- Product strategy
- Market research
- Product development methodologies (e.g. agile, waterfall)
- Product design
- Product roadmapping
- Product pricing
- Go-to-market strategy
- Product launch planning
- Customer feedback and product iteration
- Product metrics and analytics
- Competitive analysis
- User personas and customer segmentation
- Brand management
- Intellectual property and patents
- Sales enablement and customer success