http://www.sequentlearning.com/product-management-exchange.php The purpose of the Product Management Exchange (PMEX) is to provide a place (like a library) for Product Management and Marketing professionals to share their unique experiences. en-us Copyright 12 Sequent Learning Network Fri, 20 Jan 2012 00:00:00 -0500 http://www.sequentlearning.com/pmex-view-article.php?id=64 info@sequentlearning.com Fri, 20 Jan 2012 00:00:00 -0500

Introduction When I was promoted from business systems analyst to product manager, I was given a week's training and handed a portfolio of six products. My new manager explained the situation with each product. All of them had serious problems that needed immediate attention, except one. About that product, he said: "This one has no problems. Just make sure the monthly update ships on time." I was relieved that I had one product out of six that was not in trouble. My hands were full with a sunset, a migration, an update and two new products to launch.

http://www.sequentlearning.com/pmex-view-article.php?id=63 info@sequentlearning.com Thu, 12 Jan 2012 00:00:00 -0500

Introduction Gate meetings are key points in the development of new products. At these meetings, gatekeepers (or an equivalent review board) assess the quality of project work done to date and decide whether or not to make further investments. Alternatively, gatekeepers may decide that some concern must be addressed before a decision about the product is made.

http://www.sequentlearning.com/pmex-view-article.php?id=62 info@sequentlearning.com Wed, 7 Dec 2011 00:00:00 -0500

Introduction I work for a financial services company as a product manager for our deposit product lineup. My product mix includes both interest-bearing and non-interest-bearing FDIC- insured products. The Great Recession and a very poor interest rate environment have dictated pruning of my product portfolio.

http://www.sequentlearning.com/pmex-view-article.php?id=61 info@sequentlearning.com Mon, 28 Nov 2011 00:00:00 -0500

Introduction I work for an industrial equipment manufacturer. Financial challenges resulting from a recent acquisition have led the company to focus almost exclusively on manufacturing productivity. The voice of the customer is not being heeded.

http://www.sequentlearning.com/pmex-view-article.php?id=60 info@sequentlearning.com Mon, 21 Nov 2011 00:00:00 -0500

Introduction After 18 years in the shopping center industry as both a manager and marketing director, I was ready for a change. The advertising director position at the local newspaper was open.

http://www.sequentlearning.com/pmex-view-article.php?id=59 info@sequentlearning.com Fri, 11 Nov 2011 00:00:00 -0500

Introduction It was 1974. I had just transferred to Chicago from New York and was the youngest account manager for A.C. Nielsen, the TV audience research division of market research giant Nielsen. Championing the customer became a career-defining experience.

http://www.sequentlearning.com/pmex-view-article.php?id=57 info@sequentlearning.com Tue, 25 Oct 2011 00:00:00 -0400

Introduction Our organization's Product Management group was in need of life support. We were a small team, dedicated, hard working and determined to please our stakeholders. Unfortunately, gaining executive approval for new ideas was consuming our resources and implementation was suffering.

http://www.sequentlearning.com/pmex-view-article.php?id=56 info@sequentlearning.com Wed, 12 Oct 2011 00:00:00 -0400

Introduction About 18 months ago, management realized that we lacked consistent processes for establishing product strategy, developing and launching products, and working with cross-functional teams. We didn't even consider Product Management to be an identifiable discipline. Such was the origin of our Product Optimization Initiative (POI).

http://www.sequentlearning.com/pmex-view-article.php?id=55 info@sequentlearning.com Wed, 21 Sep 2011 00:00:00 -0400

Introduction As a successful marketing communications veteran, I was asked to move forward a handful of product categories that had been stagnant due to lack of attention. What I learned during my indoctrination into the world of Product Management could have filled the pages of a great mystery novel. Even though I was in charge, I had no clue what the outcome was going to be until I read the last page.

http://www.sequentlearning.com/pmex-view-article.php?id=51 info@sequentlearning.com Wed, 14 Sep 2011 00:00:00 -0400

Introduction Comparing the value of diverse technology projects requires establishing a common and agreed-upon set of business value metrics.

http://www.sequentlearning.com/pmex-view-article.php?id=54 info@sequentlearning.com Sun, 4 Sep 2011 00:00:00 -0400

Introduction Not all products deserve the same focus and allocation of resources. In my company, we've defined a flexible development process that aligns with strategy

http://www.sequentlearning.com/pmex-view-article.php?id=53 info@sequentlearning.com Wed, 17 Aug 2011 00:00:00 -0400

Introduction In a recent post to The Product Management Exchange, I wrote about opportunities and challenges arising from mergers and acquisitions. Sometimes, though, career advancement requires looking beyond one's current company, sector or industry.

http://www.sequentlearning.com/pmex-view-article.php?id=52 info@sequentlearning.com Tue, 9 Aug 2011 00:00:00 -0400

Introduction I'm a relatively new product manager working for a small foreign exchange and futures investment firm. I soon learned firsthand why it's important to clearly define your product development process.

http://www.sequentlearning.com/pmex-view-article.php?id=50 info@sequentlearning.com Tue, 2 Aug 2011 20:40:55 -0400

Introduction Mergers and acquisitions are part of the business landscape, but they have the potential to upend both customer satisfaction and individual careers. I weathered seven merger-and-acquisition transitions with the same diagnostics firm and grabbed onto new opportunity each time.

http://www.sequentlearning.com/pmex-view-article.php?id=49 info@sequentlearning.com Tue, 26 Jul 2011 00:00:00 -0400

Introduction To build a successful product team, you should involve every department that will ever interact with your product. Omitting someone can affect your success at any point in the product life cycle.

http://www.sequentlearning.com/pmex-view-article.php?id=48 info@sequentlearning.com Sun, 17 Jul 2011 00:00:00 -0400

Introduction Over the years, I've learned that a Product Manager is a "jack of all trades" who must think creatively to accomplish goals. Staffing small projects can be difficult, even though the need is for a short duration.

http://www.sequentlearning.com/pmex-view-article.php?id=47 info@sequentlearning.com Tue, 12 Jul 2011 00:00:00 -0400

Introduction A number of years ago, I was part of a team charged with developing a simulation intended to teach a particular medical procedure. The project was really a hybrid--part e-learning, part software—pushing us outside our comfort zones, requiring new processes, and creating enormous conflict.

http://www.sequentlearning.com/pmex-view-article.php?id=46 info@sequentlearning.com Tue, 5 Jul 2011 00:00:00 -0400

Introduction I work for a large insurance company, and the day-to-day operations of our cross-functional Product Management teams are key to our ability to innovate and remain competitive. During the course of several years, we have honed our processes in order to increase their effectiveness.

http://www.sequentlearning.com/pmex-view-article.php?id=45 info@sequentlearning.com Wed, 29 Jun 2011 15:07:33 -0400

Introduction As I have moved from company to company, I have found that different firms and hiring managers define "Product Management" in a variety of ways. How do you differentiate the roles and responsibilities of a product manager from those of a product marketing manager? Is there a distinction in your company? In the way that you represent yourself?

http://www.sequentlearning.com/pmex-view-article.php?id=44 info@sequentlearning.com Sun, 19 Jun 2011 14:44:38 -0400

Introduction A number of years ago, I had procurement and scheduling responsibilities but no forecasting data. There were no published reports covering my sector. How could I do my job?

http://www.sequentlearning.com/pmex-view-article.php?id=43 info@sequentlearning.com Tue, 14 Jun 2011 00:00:00 -0400

Introduction I have encountered some challenging situations in my career when it comes to beta tests and product launches. For example, lining up beta sites and aligning customer advisors far in advance can save a lot of time later. This planning is really important to incorporate the Voice of the Customer at the front-end (during launch planning) and the back-end (as you gather beta test feedback).

http://www.sequentlearning.com/pmex-view-article.php?id=41 info@sequentlearning.com Thu, 9 Jun 2011 00:00:00 -0400

The Situation I was working for the professional services division of a large disaster recovery firm, and we had just launched an information security consulting practice. We had an intangible product, one subject matter expert, and very little money for marketing. How were we to build credibility and establish ourselves as the industry leader?

http://www.sequentlearning.com/pmex-view-article.php?id=42 info@sequentlearning.com Wed, 8 Jun 2011 09:39:33 -0400

Introduction Although our product strategy was based on trends within the restaurant industry, our offerings were not being well received. What were we doing wrong?

http://www.sequentlearning.com/pmex-view-article.php?id=40 info@sequentlearning.com Thu, 2 Jun 2011 00:00:00 -0400

Introduction For most simple widgets out there, customers can readily discern the function and utility of the product. However, what about the times when the widgets are part of a larger process, such as the development and production of a medical device or aircraft? It becomes necessary to understand more than simple form and function. Often, customers are sorely lacking the regulatory, manufacturing, and distribution knowledge required to fully utilize a product, and they do not realize this. In these cases, what role does the product manager play to educate the customer?

http://www.sequentlearning.com/pmex-view-article.php?id=39 info@sequentlearning.com Wed, 18 May 2011 00:00:00 -0400

Introduction Many engineering-led companies involve marketing too late in the development process for that part of the organization to truly influence the direction of new offerings. I became involved with a politically sensitive project when 80 percent of the technical work was complete. There were many unanswered questions about the market. How could I craft a launch plan?

http://www.sequentlearning.com/pmex-view-article.php?id=38 info@sequentlearning.com Sat, 14 May 2011 00:00:00 -0400

Introduction My employer, a commercial waterproofing manufacturer, offers a large array of products, including silicones, urethanes, coatings, membranes, and air barriers. We specialize in providing a wide range of silicone and urethane sealants, available in multiple colors, and our price book lists over 350 combinations. Our challenge was to minimize both inventory and order lead times so that we could manage costs, while maintaining high customer satisfaction. First, we needed to identify which sealants should be stocked and which should be made-to- order specials. Then we had to align our marketing literature, color samples, website, and price books with each product�s stocking classification.

http://www.sequentlearning.com/pmex-view-article.php?id=34 info@sequentlearning.com Sat, 7 May 2011 00:00:00 -0400

Introduction Corporate down-sizings have been grabbing headlines since the nineties, and entire industries have been restructured. Product managers must be nimble in order to survive

http://www.sequentlearning.com/pmex-view-article.php?id=36 info@sequentlearning.com Tue, 3 May 2011 00:00:00 -0400

Introduction As many of us have faced when transitioning from contributor to manager of a group, evaluating current product managers and hiring new ones can be a daunting task. Reflecting on my experience over the last 15 years of building teams, I have noticed four common characteristics shared by all of the top performers.

http://www.sequentlearning.com/pmex-view-article.php?id=37 info@sequentlearning.com Thu, 28 Apr 2011 00:00:00 -0400

Introduction Most of us are more than used to working with ever-tightening budgets or competing for resources. But how do you manage, let alone successfully achieve, your product goals with limited formal development funding? The answer is, perhaps, a balancing act of leadership and influence, leveraging cross-functional teams, and expanding the knowledge base.

http://www.sequentlearning.com/pmex-view-article.php?id=33 info@sequentlearning.com Mon, 25 Apr 2011 00:00:00 -0400

Introduction Our company recently changed the product development methodology used for our software projects, moving from what's known as a "waterfall" approach to "Agile." The two approaches have similar steps (ideation, definition, planning, building, change management, testing and roll-out.) Agile allows you to overlap phases and revise product development in shorter cycles. The primary difference with Agile is that the design evolves more rapidly. Developers begin with a product direction that is set, but is continually challenged and modified throughout the development process in a collaborative team environment. In our enthusiasm to get Agile quickly in place, though, we overlooked the critical role that the product manager has in driving the product vision and leading organizational change.

http://www.sequentlearning.com/pmex-view-article.php?id=32 info@sequentlearning.com Thu, 14 Apr 2011 00:00:00 -0400

Introduction We were faced with a conundrum as we planned for the new release of an existing and essentially mature suite of software applications (10 releases, on the market for nearly 10 years.) We wanted to keep the product vibrant and to entice clients to upgrade to the latest version, but there would be no earth shattering enhancements. So what to do?

http://www.sequentlearning.com/pmex-view-article.php?id=30 info@sequentlearning.com Sun, 10 Apr 2011 00:00:00 -0400

Introduction Sometimes it can be difficult to measure the effectiveness of product investment. I'm one of three product managers for an educational solutions provider, and many of our product investments entail enhancements to existing product lines. My challenge was how to measure the return on those investments.

http://www.sequentlearning.com/pmex-view-article.php?id=31 info@sequentlearning.com Thu, 7 Apr 2011 00:00:00 -0400

Introduction Matrix management is hard. When the individuals you manage report to others—whose agendas may differ from yours—you must employ an array of tactics to achieve your goals.

http://www.sequentlearning.com/pmex-view-article.php?id=29 info@sequentlearning.com Sat, 2 Apr 2011 13:00:10 -0500

Introduction One of the harder tasks that a product manager can face is stopping, even temporarily, a development effort that has deviated from plan. I have personally done this several times during my career, and the experience can be stressful, frustrating, and disappointing.

http://www.sequentlearning.com/pmex-view-article.php?id=28 info@sequentlearning.com Mon, 21 Mar 2011 00:00:00 -0500

Introduction Leading a cross-functional team is tough work. How can you influence people who don't report to you? The communications problems became so severe during the course of one project that team members were working towards different goals.

http://www.sequentlearning.com/pmex-view-article.php?id=27 info@sequentlearning.com Sat, 12 Mar 2011 00:00:00 -0500

Introduction> A number of years ago, I became product manager for a growing company where the position had never existed before. I was chosen because being the firm's only software instructor had given me intimate knowledge of both our products and customers. But several years into the position, something did not feel right.

http://www.sequentlearning.com/pmex-view-article.php?id=25 info@sequentlearning.com Sat, 5 Mar 2011 10:28:44 -0500

Introduction Not long ago, I managed a small, extremely diverse team responsible for a $90 million, international line of medical devices. The department consisted of: - A very experienced man who was a generation older than I - A young, single guy, located in Dallas, far from headquarters and the rest of the team - A recently married woman about to have her first child - A British citizen Each of them had a reputation as a high performer, and I was flattered to be supervising such valuable employees. On the other hand, I realized that motivating and focusing highly skilled staff can present its own challenges, especially when their experiences and perspectives diverge. Because their skills were never at issue, I was able to concentrate on "people management," making it my business to create an environment where they felt appreciated and their talents could flourish.

http://www.sequentlearning.com/pmex-view-article.php?id=24 info@sequentlearning.com Mon, 28 Feb 2011 09:19:07 -0500

Introduction My technical support team was overwhelmed by the number of field requests regularly sent their way. Problems with understaffing and distribution of assignments were threatening customer satisfaction.

http://www.sequentlearning.com/pmex-view-article.php?id=23 info@sequentlearning.com Tue, 22 Feb 2011 10:29:07 -0500

Introduction Who knew that one simple document would require hours of market research, client interviews, product planning and other tasks? That document is the Product Roadmap which details the overall strategic direction of a given product. This is accomplished by laying out future enhancements and plans for the current year, as well as listing ideas and growth opportunities for the next two years. This one document is a snapshot of all product management plans and effectively communicates those plans to the desired audience. When I finally understood the importance of the Roadmap, I learned how to effectively communicate to my clients and to my colleagues.

http://www.sequentlearning.com/pmex-view-article.php?id=20 info@sequentlearning.com Sun, 20 Feb 2011 21:41:36 -0500

Introduction Years ago I was a product manager working on a power tool accessories product line. It sold in high volumes and made solid revenue contributions. It even had great market share! However, it contributed less than adequate gross margins and it seemed like it was not going to be around too much longer. There were several domestic and international competitors. The competitors were applying pressure to the retailers and commercial distributors. I found myself feeling the pressure to act in some way, so I'll share my story with you.

http://www.sequentlearning.com/pmex-view-article.php?id=22 info@sequentlearning.com Fri, 11 Feb 2011 15:02:35 -0500

Introduction A year ago I was getting inconsistent feedback on the product managers in my team. Various groups were praising and criticizing different product managers. There was no clear good or poor product manager. Everyone had a different point of view. It was critical that I get to the bottom of this issue and find a solution.

http://www.sequentlearning.com/pmex-view-article.php?id=16 info@sequentlearning.com Fri, 28 Jan 2011 18:17:25 -0500

Introduction One of the challenges often faced during product development is keeping a team of engineers, designers, sourcing professionals, and managers focused on the same goals. With so many opinions concerning which direction a new product should take, how do you ensure that you're continuing to work towards a product that your customers want and that will help you gain market share?

http://www.sequentlearning.com/pmex-view-article.php?id=19 info@sequentlearning.com Sat, 22 Jan 2011 17:30:08 -0500

Introduction In certain industries, much of the pricing goes unpublished. So how can you know if your rates are competitive? I had to be creative to get the information I needed to price the professional services that I manage.

http://www.sequentlearning.com/pmex-view-article.php?id=18 info@sequentlearning.com Wed, 19 Jan 2011 16:50:13 -0500

Introduction Product managers aren't usually enthusiastic about CMMI (Capability Maturity Model Integration), a framework developed by Carnegie Mellon's Software Engineering Institute that addresses the alignment of processes needed to achieve repeatable and predictable results. CMMI is a great framework for instituting changes that guide the maturation of a given process so that outcomes can be achieved with greater predictability. Some developers believe that CMMI is too rigid because they say it stifles creativity. But after four years of experience with CMMI - and improved process performance, I am now an enthusiastic proponent - and a happy product manager! Let me tell you why.

http://www.sequentlearning.com/pmex-view-article.php?id=21 info@sequentlearning.com Tue, 11 Jan 2011 22:02:38 -0500

Introduction Recently I was watching a TV show when I heard that saying: "It really takes teamwork to make a dream work!" On the show, an Australian woman was trying to get a team of people to reinvent their business and try to re-ignite the passion that they used to have for providing superior products and services. I laughed at the way that she said it and I couldn't wait to get into the office and try it out! My opportunity came during a weekly engineering project update meeting and everyone had a good laugh. Afterward, I was going over some problems on a project when a design engineer said "if anyone can get it fixed you can." He made me feel good but I was quick to say that everyone contributes to getting problems solved. That got me thinking about how product managers have so much responsibility and usually no direct line authority. Great PMs need great team building skills, even if they don't have direct reports. Besides the core organizational skills that you need to succeed, there are some really simple, easy tricks anyone could add ingrained to your daily routine.

http://www.sequentlearning.com/pmex-view-article.php?id=17 info@sequentlearning.com Sat, 8 Jan 2011 16:18:29 -0500

Introduction Product management at a technology start-up is very different from the Fortune 1000 experience. Our condensed time frames, limited budgets, and evolving processes challenge marketing professionals every day. Our organizations are often led by technology evangelists, whose enthusiasm, along with investor pressure, creates an urgency to launch. In this environment, it is common for strategic decisions to be made before a product manager gets involved, so he or she has limited opportunity to shape the offering. Let me describe an ill-fated product launch that could have been different.

http://www.sequentlearning.com/pmex-view-article.php?id=15 info@sequentlearning.com Tue, 4 Jan 2011 12:54:02 -0500

Introduction During my career in high tech, I have had seats on both the development and marketing sides of the negotiating table. This taught me that communication and compromise are the keys to success. Getting beyond our preconceived notions of what the other side is thinking enhances collaboration and leads to successful projects.

http://www.sequentlearning.com/pmex-view-article.php?id=14 info@sequentlearning.com Fri, 17 Dec 2010 08:20:14 -0500

Introduction Inspiration and enthusiasm, while invaluable to the product development process, cannot be allowed to supplant customer feedback. Even when prospective users provide the initial impetus, ongoing validation is key to calibrating product design to the brutally honest demands of the marketplace.

http://www.sequentlearning.com/pmex-view-article.php?id=13 info@sequentlearning.com Wed, 8 Dec 2010 17:22:32 -0500

My organization produces webinars, seminars, and conferences for business professionals. But it turns out we had forgotten some marketing basics, assuming that "if we build it, they will come." A little analysis and market segmentation helped us turn the corner.

http://www.sequentlearning.com/pmex-view-article.php?id=12 info@sequentlearning.com Wed, 24 Nov 2010 11:17:12 -0500

Expanding into competitive new market segments with high end products can be challenging when your product does not offer the right price/performance balance to win. Cost reducing high end products rarely results in a product with competitive costs at acceptable profitability. The best approach is a "ground up" value engineered solution that can win and provide healthy margins.

http://www.sequentlearning.com/pmex-view-article.php?id=11 info@sequentlearning.com Sun, 26 Sep 2010 20:29:52 -0400

In every product manager's career there may have been that moment where you stopped and thought that you were out of your league and that you were going to fail. Failure is not pleasant, but it's part of life, and as a result, it's natural to fear failure. It is natural to feel that you are perhaps not good enough at what you do. In my case it hit me during my first international business trip to the United Arab Emirates. Confidence has really never been an issue with me. However, confidence is an emotion one feels just before knowing all the facts. Chapter three of The Product Manager's Desk Reference, "Leadership: Creating Influence," inspired me to share my own leadership transformation.

http://www.sequentlearning.com/pmex-view-article.php?id=2 info@sequentlearning.com Sun, 12 Sep 2010 19:46:19 -0400

Introduction One of the remarkable things I learned as a product manager is that customers don't usually know what they don't know. I'm sure that many of you know this, too. On an adjacent plane, I know that business leaders want product managers and marketers to capture the customer's voice. No doubt, knowing what motivates a customer is highly beneficial. I'm pretty certain that there is no shortage of suggestions you get from customers or from sales people. There are also plenty of customer service issues that get raised. All of these amount inbound information. As a product manager, I always had a repository to classify these items. However, prioritizing sometimes became a challenge. People from other functions always had an opinion about what to work on, I often found that better market insights had a powerful impact on the ability to influence that prioritization. Here's a real story about my experience in bringing this insight to the table. By the way, I have probably told this story a hundred times or more - and it takes 10 minutes to spin it up. I'll make it short.

http://www.sequentlearning.com/pmex-view-article.php?id=4 info@sequentlearning.com Mon, 16 Aug 2010 14:02:37 -0400

Introduction I used to dread going to trade shows. They were never my cup of tea as an attendee -- and not so as an exhibitor. When I became an accidental product manager for a start-up company, I had to change my attitude quickly. I needed to figure out my role in the firm's upcoming series of road shows. What would I do once the convention center doors open and the masses flood the show floor? If you've found yourself in this position, you'll want to hear my story. If you do, you'll be contributing to your own success as a best in class product manager.

http://www.sequentlearning.com/pmex-view-article.php?id=10 info@sequentlearning.com Wed, 28 Jul 2010 17:31:08 -0400

Introduction As with any multi-functional effort in organizations, the design process is a challenging one, particularly when creating innovative products or services. As with many efforts, the product manager must effectively manage many cross-functional relationships. There is a special cross-functional team made up of a designer, a product manager, and an engineer. This Design Triangle Team must act in unity to successfully advance any idea through the realization process - up to a successful market introduction. I have successfully leveraged this kind of team, and I'd like to share this with you.

http://www.sequentlearning.com/pmex-view-article.php?id=5 info@sequentlearning.com Thu, 15 Jul 2010 18:00:04 -0400

Have you ever wanted to conduct a user study, but did not have the budget, the time or organizational support for formal user studies? Most product managers run into this problem all the time. I know because I often face this challenge. You too, may have many tricks to get around the problem of time and money to get a better sense of customer needs. I'll share with you some of my favorite tools and tricks.

http://www.sequentlearning.com/pmex-view-article.php?id=3 info@sequentlearning.com Wed, 16 Jun 2010 16:00:17 -0400

Introduction There is nothing like a challenging business environment to push a company's hot buttons. Once those buttons get pushed, the imperative to capture new business or retain existing business cascades through the organization and falls squarely on the shoulders of product managers and their teams. As the number of projects for enhancements, new products, or innovations ratchet up, we get very busy. As we look across this vast landscape of projects, we realize that some may not belong in the mix, and some may not have been properly vetted. We also may fall in love with our projects. Then, we watch these projects as they move down the development pipeline at excessive speeds - and there is usually no stopping them, when in fact, some of them should be stopped - midstream.