5 C’s Framework
What Is the 5C’s Framework? The 5C’s framework is a strategic management tool that provides a comprehensive analysis of both internal and external factors affecting an organization. This framework assists businesses in understanding their position
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Product Management Software
What is Product Management Software? Effective product management is the linchpin that bridges ideation to successful execution. As organizations navigate the complexities of bringing innovative products to market, the role of product management software has
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Strategy-Based Roadmaps
Creating Strategy-based Roadmaps There are different types of product roadmaps out there. In many cases, what teams have as roadmaps are documents that look like a backlog of features or even a Gantt chart. It’s
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Root Causes of Product Failures
Root Causes of Product Failures Launching a new product isn’t an easy thing. There is no telling whether it would become a hit or a miss. A sizable proportion of new launches fail, according to
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MVP Is About Learning, Not Delivery
MVP Is About Learning, Not Delivery The minimum viable product (MVP) concept is on the lips of just about everyone in the business world these days. People working in both startups and large enterprises regularly
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Minimum Delightful Product
What is a Minimum Delightful Product? The concept of a minimum viable product (MVP) has gained significant traction over the last decade. Practically every product professional is familiar with it and even people who don’t
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MVP vs MMP
Minimum Viable Product vs Minimum Marketable Product Minimum viable product (MVP) and minimum marketable product (MMP) are two concepts that more people have become familiar with as more companies embrace Agile methodologies. That familiarity doesn’t
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Continuous Design
Agile Approach to Design is Continuous Many companies, especially in the software industry, have come to embrace Agile. The methodologies help us to view product development as a learning and iterative process. They promote a
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Getting Product Metrics Right
Build Great Features with Product Metrics It is more important now than ever, for product managers to work with data. Doing this could be daunting when considering the large amount that we often have to
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Gartner Hype Cycle
What is the Gartner Hype Cycle? Innovation is key to a company having an advantage (a vital differentiator) over the competition. New technologies often hold or make great promises. Investors and business owners are always
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McKinsey’s 3 Horizons Model
What is McKinsey’s 3 Horizons Model? Businesses that are looking to achieve and maintain long-term growth must give due attention to existing products while also not overlooking innovation. The 3 Horizons framework by the international
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Gartner Magic Quadrant
What is Gartner’s Magic Quadrant? A good understanding of the players in an industry is valuable to an organization when it comes to getting its investment decisions right. The Gartner Magic Quadrant is a useful
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Net Present Value
What Is Net Present Value (NPV)? There are many ways or tools available to product managers for prioritizing effectively. It is very rare to find Net Present Value included among these options. This is because
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GE-McKinsey Matrix
What is the GE-McKinsey Matrix? Resource scarcity is a fact of life. While you may have many things to do, the resources available to execute them will often be limiting. This makes it necessary to
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Network Effects
Network Effects (Metcalfe’s Law) Network effects explain the success of most digital businesses around today. These include notable companies such as Facebook, Google, and Apple. While this concept might seem new, it is an idea
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Product Vision Template
Product Vision Template A product strategy is a vital requirement for building a successful product. But before coming up with one, you need to have a strong product vision. Think of the product vision as
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Product Strategy vs. Product Roadmap
Product Strategy vs. Product Roadmap Product strategy and the product roadmap are central to the work of product managers. Both of them are critical for setting the right outcomes and promoting success. However, there are
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MECE Principal
What is the MECE Principal? MECE stands for Mutually Exclusive, Collectively Exhaustive – “completely” is sometimes used in place of “collectively.” It is a principle commonly used by management or strategy consultants for making complex
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Product Launch Analytics
Defining Product Metrics Imagine you’re launching a new product or an important new feature and you need to define the metrics to track. How do you determine what to track? These metrics will be
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How to Build a Product That Sucks
How to Build Products That Suck No product manager or company would set out to create a product that disappoints. However, the reality is that many products, if not most, simply suck! It’s true that
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Opportunity Space
Opportunity Space Product teams are familiar with the terms, problem space and solution space. One relates to the needs of customers while the other is finding a solution to the identified problems. But there is
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Outcome vs. output
Outcome vs. output Product Teams In the dynamic field of product management, a crucial challenge lies in the dichotomy between the role’s strategic nature and the prevalent organizational tendency to dictate what Product Managers should
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Balanced Portfolio
What is the Balanced Portfolio? A balanced portfolio is an investment strategy that is aimed at ensuring the right mix of investments. In a product sense, it is a portfolio that balances new, growing, and
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Northstar Framework
What is the NorthStar Framework? The North Star Framework emphasizes a single metric, on which success hugely depends. This model centers on the aptly-named North Star Metric (NSM) that captures the key value that your
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Competitive Analysis Frameworks
Competitive Analysis Frameworks C A competitive analysis framework is a structured approach used by businesses to evaluate and understand their competitive landscape. It involves assessing the strengths and weaknesses of both direct and indirect competitors
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Product Mission
What is a Product Mission? Product mission is a short statement that spells out the ultimate goal of a product. It makes clear the purpose(s) that what you’re offering serves and for whom. Succinctly, it
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Opportunity Solution Tree
What is an Opportunity Solution Tree ? Opportunity Scoring Tree (OST) is a diagram that aims to help the product discovery process to run smoothly. The visual aid provides clarity on how you intend to
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Product Positioning
What is Product Positioning? Product positioning is an attempt at creating in the minds of customers the right perceptions about your product, including showing how it differs from rival offerings. You could think of it
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Feature Bloat
What is Feature Bloat? Feature bloat describes a phenomenon in which too many features are built into a product, and a team focuses more on output than outcome and often leads to adding features for
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Product Brief
What is a Product Brief? A product brief is a document that defines a problem to be solved and generally includes goals and/or some set of high-level requirements. It provides a starting point for the
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Minimal Lovable Product (MLP)
What Is a Minimum Lovable Product? The minimum lovable product (MLP) is a relatively new concept that provides a seemingly better alternative to the more popular minimum viable product (MVP). First coined by Brian Haaff
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Action Priority Matrix
What is the Action Priority Matrix? An Action Priority Matrix (APM) is a simple diagram that classifies activities based on the amount of effort required and the impact expected. It is a tool for choosing
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Working Backwards
What is Amazon’s Working Backwards? Working backwards is an approach that defines how the world’s leading online retailer Amazon does business. It entails starting from the customer or their needs and problems when doing any
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Shape Up Method
What is the Shape Up Method? The Shape Up Method from 37 Signals describes how they approach product opportunity discovery and development. It captures processes that are used by development teams to shape ideas into
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Net Promoter Score (NPS)
What is the Net Promoter Score? Net Promoter Score (NPS) is an indicator of how likely customers are to recommend your company, products, or services to others. It shows how pleased, or otherwise, customers are
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User Research
What is User Research? User research refers to the practice of trying to understand the user, their needs, and thought processes. It is about taking in user behaviors, motivations, and experiences through observation or data-driven
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Customer Empathy
Customer empathy is putting yourself into the customer’s shoes to know where they pinch. It is an effort to become more conscious of the motivations, needs, and emotions of users, in order to better serve them.
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Customer Experience
What is Customer Experience? Customer experience is an outcome of interactions between an organization and its customers. It is the perceptions or impressions that customers have from their interactions or throughout their journey with your
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Circles Method
What is the Circles Method? Created by Lewis C. Lin, the CIRCLES method is a framework that aims at helping product managers to provide well-thought-out responses to product design questions. It enables you to provide
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Product Vision
What is a Product Vision? A product vision is a description of what you hope to achieve with your product. It is a product’s targeted overall mission in the long term or its intended future
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Product Portfolio Management
A Guide Product Portfolio Management A product portfolio is the collection of all items, products, or services that are offered by a business or need to be managed collectively. Product portfolio management, therefore, describes the
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Customer Churn
What is Customer Churn? Customer churn, often referred to as attrition, stands as a pivotal metric in the business landscape, representing the number of customers who cease using a product or service within a specific
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The Value Creation Plane
Creating and Identifying Differentiated Value Businesses exist for one major reason: the creation of value. This usually means having needs met for the customer and getting a good ROI for the company. Product management is
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Business Model Archetypes
In simple terms, a business model may be described as the plan that you have in place for your business. It is a conceptual framework that captures how you intend to create and deliver value
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Product Opportunity Heuristics
How to Recognize Great Ideas Worth Working On Businesses thrive on identifying opportunities and making the most of them. A good entrepreneur or product manager must have rules for an effective evaluation of opportunities to
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B2C vs. B2B Product Management
B2B Product Management is largely similar to B2C Product management – what differs is the product strategy for determining what to build, and the techniques behind gaining those insights.
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KPI-Driven Reporting
Key performance indicators, also referred to as KPIs, offer a useful means for companies to assess how well they are doing concerning set goals. Investopedia defines it as “a set of quantifiable measures that a
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What is a Digital Product?
What is a Digital Product? A digital product refers to a product or service that is primarily based on digital technology, existing in a non-physical or intangible form. Unlike traditional physical products, which are tangible
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Eisenhower Matrix (Urgent vs Important)
The Eisenhower Matrix is a framework for prioritizing tasks based on their urgency and importance. It helps correct issues relating to poor time and task management.
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Great Product Teams
What Makes a Great Product Team? Behind every winning product is a great team. What makes a good product team? What are some of those attributes that are necessary to ensure success? We’ll cover these
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Product Leadership
What is Product Leadership and How Do You Get it Right? When it comes to bringing winning products to market repeatedly, a lot depends on product leadership. It is to a large extent what determines
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Why Lean Methodology Is So Popular
Tracing its origin to the industrial manufacturing industry, Lean is a popular methodology among companies that provide not only goods and services these days. It is revered for helping to create more values from available
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Product/Market Fit
What is Product/Market Fit? Product-market fit is a popular concept and a quick search will provide you numerous pages discussing it. However, many people still do not have a good enough understanding of it, especially
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Porter’s 5 Forces
Using Porter’s 5 Forces Created by Harvard professor and economist Michael Porter, Porter’s 5 Forces model is a simple yet powerful business strategy tool. It helps to assess the viability of the market and the
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Product Lifecycle Management
The Product life cycle is a concept that most companies, especially marketing teams, are well aware of. However, experience has shown that knowledge is not equal to effective application. Organizations often fail to make the
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Product-Market Matrix
What is the Product-Market Matrix? The Ansoff Product-Market Matrix is a map that helps Product Managers to map strategic market growth. The Ansoff Matrix was named after Igor Ansoff, a mathematician and business manager who
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Objectives & Key Results (OKRs)
OKR’s are an example of outcome-oriented management. The OKR system suggests that leaders task their team with an objective, allowing the team to determine their approach by defining the key results, to achieve the objective.
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ICE Scoring Method
What is the ICE Scoring Model? Prioritizing features, initiatives, and rollouts are at the very heart of Product Management. Choosing the right framework at the right stage of the process is the key to being
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TAM/SAM/SOM
What Are TAM, SAM, SOM? TAM / SAM / SOM is a model for market sizing and can quickly provide a sense of the opportunity before making deep investments in pursuit of it. The model
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Business Model Canvas
What is the Business Model Canvas? The Business Model Canvas has risen to popularity as a simple “lean” way to define a business model. The business model is an expression of business strategy, not product
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Impact Mapping
What is Impact Mapping? Impact mapping is a graphic strategy plan that aligns initiatives and delivery activities with overall organizational goals. Gojko Adzic introduced impact mapping with the publication of his book, Impact Mapping, in
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SWOT Analysis
What is SWOT Analysis? SWOT analysis is considered a tried and true method for strategic analysis. The acronym stands for strengths, opportunities, weaknesses, and threats. SWOT analysis can be applied to any organization, Product, or
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Innovation Ambition Matrix
What is the Innovation Ambition Matrix? Everything in our economy and with our technology is changing faster than ever. What was once innovative and differentiating becomes commonplace in time and the saying “the only constant
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Marketing Mix 4P’s
What are the 4P’s of Marketing? The successful marketing mix of the 4 P’s can be summed up as having the right product, in the right place, at the right price with the right promotion.
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Innovation Adoption Curve
What is the Innovation Adoption Curve? The Diffusion of Innovations theory illustrates how, why, and at what rate new ideas and technologies spread throughout a social group or community. The theory introduces the Innovation Adoption
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Generic Competitive Strategies
Harvard Professor Michael Porter spent years contemplating market strategy, eventually writing a book Competitive Advantage: Creating and Sustaining Superior Performance in which he coined the phrase “Generic Competitive Strategy”. After much research, he eventually determined
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BCG Growth Share Matrix
What is BCG Growth-Share Matrix? The BCG Growth-Share Matrix was developed in 1970 by Bruce Henderson of the Boston Consulting Group. BCG developed the matrix to help companies determine how to best allocate their financial
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AARRR Metrics
What is the Pirate Metric? (AARRR) Often coined the “Pirate Metric”, AARRR is a 5 step metric created by Angel investor and founder of startup accelerator 500 startups, Dave McClure. The metric is often called
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Go To Market Strategy
Go To Market Strategy The Go-To-Market Strategy, also sometimes referred to as a Marketing Strategy, describes how we will take a new product or major new feature to market. As the name implies, this is
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Product Differentiation
What is Product Differentiation? Product differentiation is the practice of separating your product from others in the market to create a distinct selling advantage. By creating a USP (unique selling proposition) you can elevate your
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