Elevating product strategy through advanced competitive intelligence

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https://youtu.be/yf9QcefToDg

TLDR

In this episode of Product Mastery Now, I interview Jay Nakagawa, Director of Competitive Intelligence at Dell Technologies and a 25-year product management veteran. Our discussion reveals proven methods for understanding competitors and developing effective product strategies. Jay shares practical tools and frameworks product managers can use to gather competitive intelligence ethically and systematically. One compelling insight is that looking at competitors through our own lens often leads to misunderstandings – we need frameworks and methods to see the market from their perspective.

Understanding Competitive Intelligence in Product Management

The Evolution of Competitive Intelligence

Jay has an interesting background that shapes his perspective on competitive intelligence. After spending over 20 years as a product manager, he found himself increasingly drawn to analyzing competition and developing strategies to outperform rivals. When Dell acquired EMC, Jay had the opportunity to transform this skill into a new career direction, leading competitive intelligence efforts.

His experience reveals an important shift in how companies approach competitive analysis. While understanding customer needs remains essential, gaining deep competitive insights has become equally valuable for product success.

The Problem with Traditional Analysis

Many product managers rely on SWOT analysis for competitive insights. However, Jay explains that in his field, they jokingly call SWOT a “Silly Waste of Time” because it reveals little about competition. Instead of providing deep insights into competitor strategies and capabilities, SWOT tends to focus on internal factors and broad market opportunities.

Core Functions of Modern Competitive Intelligence

Jay learned about competitive intelligence from the Academy of Competitive Intelligence, which teaches product managers not only frameworks but also how to use them practically. Based on Jay’s experience at Dell Technologies, effective competitive intelligence includes:

Function Description Business Impact Competition Analysis Understanding competitor products and strategies Improved product differentiation Strategic Evaluation Assessment of corporate and product strategies Better strategic planning Market Motion Analysis Understanding go-to-market approaches Enhanced market positioning Sales Support Enabling sales teams with competitive insights Increased win rates Product Direction Informing product management decisions More effective roadmap planning

Essential Frameworks for Competitive Analysis

Porter’s Five Forces in Practice

Jay shares an example of how to apply Porter’s Five Forces using the large aircraft manufacturing industry:

1. Threat of New Entry
   • High capital requirements
   • Strict government regulations
   • Example: China’s emerging presence in aircraft manufacturing
2. Supplier Power
   • Impact of supply chain disruptions
   • Limited supplier options
   • Complex component requirements
3. Buyer Power
   • Airlines as major customers
   • Long-term purchase commitments
   • High switching costs

Understanding Competitor Perspective

Jay shares a metaphor about competitor analysis: Picture a kitten looking in a mirror and seeing a lion’s reflection. While we see the kitten, we need to understand that the competitor sees themselves as a lion. This perspective helps explain why competitors’ actions that seem irrational often make perfect sense from their viewpoint.

Jack recommends you focus on your primary competitors. Use Four Corners Analysis to understand their market:

1. What’s driving their business?
2. What’s motivating them?
3. How do they view themselves?
4. What do they want to do?

The answers to these questions give you a good idea of what your competitor will do over the next 24 months. Then understand their biases and blind spots that you can exploit.

Advanced Competitive Intelligence Techniques

The Triangulation Method

Jay explains how his team combines multiple sources to build reliable competitive insights:

• Internal Knowledge
  • Team members with competitor experience
  • Product telemetry data
  • Sales team feedback
• Public Information
  • Job postings
  • Trade journals
  • Financial reports
• Industry Intelligence
  • Analyst reports
  • Conference insights
  • Customer feedback

Creative Research Methods

Jay shares an example about a team that used a creative but ethical way to gather competitive intelligence for a pharmaceutical company. The team needed to understand a competitor’s capacity for manufacturing vaccines but couldn’t access internal information. Their solution? They contacted the local fire department to review the building’s fire mitigation plan, which revealed details about the facility’s size and potential production capacity.

Practical Information Sources

Here are specific places where product managers can find competitive insights:

Source Type Examples Information Gained Professional Publications McKinsey reports, Boston Consulting Group articles Strategic direction, market trends Career Sites LinkedIn, Glassdoor, company career pages Technology investments, skill requirements Industry Events Conferences, trade shows, webinars Product roadmaps, partnership strategies Financial Sources Annual reports, investor presentations Investment priorities, market focus

Connecting Intelligence to Product Strategy

Common Product Management Challenges

Jay observes that many product managers have become highly specialized, focusing deeply on specific features or release optimization. While specialization has its benefits, it can lead to:

1. Limited market understanding
2. Missed competitive threats
3. Reactive rather than proactive strategy
4. Insufficient competitive differentiation

Predicting Competitor Actions

Jay shares four common ways competitors respond to market moves:

1. Imitation Response

When competitors can’t innovate quickly, they often try to copy successful features. Jay references Tony Fadell’s experience with the Nest thermostat as an example of how established companies respond to innovative products.

2. Innovation Response

Some competitors will develop alternative approaches rather than direct copies. This often leads to market differentiation and can benefit customers through increased choice.

3. Legal Response

Jay notes that when competitors can’t compete effectively through products, they may turn to legal challenges, particularly around patents or regulatory compliance.

4. Acquisition Response

Larger competitors might attempt to buy innovative companies rather than competing directly, especially when facing significant technical or market barriers.

Evaluating Competitor Claims

Assessing Investment Levels

Jay’s organization looks at publicly available data to figure out the market direction where competitors are going in the next four years. They try to answer the questions, “Why does a company do what they’re doing? Why are they investing in that technology?”

Jay shares a quote from a friend: “Vision without execution is called delusion.” If a competitor claims a particular business objective is part of their vision, you should investigate whether they really have the ability to execute on that vision.

Vision vs. Execution

Drawing from his experience, Jay shares these warning signs of a disconnect between vision and execution:

• Repeated announcements without progress
• Misalignment between stated goals and resource allocation
• Lack of supporting technical capabilities
• Missing market validation

Innovation Through Competitive Intelligence

Finding Market Opportunities

Jay shares how competitive intelligence can reveal innovation opportunities. He uses the example of Tony Fadell’s development of the Nest thermostat:

1. Personal Problem Recognition
   • Cold mountain cabin on arrival
   • No remote temperature control
   • Manual programming challenges
2. Market Research
   • Competitor analysis (Honeywell)
   • Technology assessment
   • User need validation

Conclusion

Throughout our discussion, Jay emphasizes that competitive intelligence isn’t about following competitors – it’s about understanding the market landscape to make better product decisions. The goal is creating differentiated products that solve real customer problems while maintaining awareness of competitive dynamics.

Useful links:

• Connect with Jay on LinkedIn
• Learn more about PDMA

Innovation Quote

“Ideas can come from anywhere.” – based on the story of Tony Fadell, inventor of the Nest thermostat

Application Questions

1. How could your team implement a systematic approach to gathering competitive intelligence that goes beyond basic SWOT analysis?
2. What frameworks from this episode could you start using immediately to better understand your competitors’ strategic direction?
3. How could you integrate competitive intelligence gathering into your current product development process without disrupting your existing workflow?
4. In what ways could your team better utilize publicly available information sources to predict competitor moves?

Bio

Jay Nakagawa is a 25+ year veteran product manager, with a track record of successfully building new products and developing turn-around strategies resulting in high revenue growth. As director of Competitive Intelligence with Dell Technologies, he and his team have been instrumental in providing critical guidance to product management teams providing insights that encompass how to create differentiated offerings to the market.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

Tips for managing global innovation projects

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TLDR

In this episode of Product Mastery Now, I speak with Jack Hsieh about successful product development strategies. Jack brings 20 years of experience managing innovation projects at companies like Sony Ericsson and Logitech. He shares practical insights from the Product Development and Management Association (PDMA) framework and explains how product managers can use these principles to improve their product development process. Through real examples from his work in consumer electronics and aerospace industries, Jack shows how PDMA’s body of knowledge helps create successful products while avoiding common pitfalls in portfolio management.

Key topics discussed:

• Innovation requires both strategy and execution
• Market research remains fundamental
• Process choice should match organization culture
• Portfolio decisions need global perspective
• Technical expertise matters in leadership

Introduction

While recording this episode at the PDMA Inspire Innovation Conference, I had the opportunity to talk with Jack Hsieh about product development evolution. PDMA has been supporting product professionals since 1976, making it the oldest organization dedicated to product management. Jack explains how PDMA’s comprehensive knowledge base helps companies innovate effectively across different industries and cultures.

Understanding New Product Development

Jack breaks down new product development (NPD) into clear components that every product manager should understand:

• Turning ideas into products and services that customers will buy
• Finding market opportunities that create value for organizations
• Making existing products better through strategic improvements
• Creating new value for established markets

The PDMA Body of Knowledge Framework

1. Strategic Alignment

Jack describes how product development needs alignment at multiple levels:

Strategy Level What It Means Why It Matters Corporate Strategy Company’s overall direction Guides all product decisions Business Unit Strategy Market-specific plans Focuses resources effectively Innovation Strategy Product development priorities Directs innovation efforts Capability Strategy Resource planning Ensures successful execution

2. Portfolio Management

During our conversation, Jack shares valuable insights from managing product portfolios at Sony Ericsson. He explains how the company handled three distinct product lines:

• Smartphones
• High-end feature phones
• Low-end feature phones

This experience taught him important lessons about resource allocation. For example, his business unit needed to coordinate holidays across three regions: Sweden, Taiwan, and Japan. The overlapping work schedule only provided 190 days per year for full team collaboration, making resource planning especially important.

Jack uses Boeing and Airbus as examples to illustrate key portfolio management principles:

Portfolio Decision Impact Lesson Learned Boeing’s 737 platform extension Technical challenges with aging platform Need for balanced technical and business leadership Resource allocation across product lines Product cannibalization between categories Importance of global portfolio optimization Technical vs. business leadership Impact on long-term product decisions Value of technical expertise in leadership

3. Process Management

Organizations need different development processes based on their specific needs. Jack explains several approaches:

Integrated Product Development (IPD)

• Works well for complex products
• Requires strong cross-functional coordination
• Popular in companies like Huawei

Agile Development

• Suited for rapid market feedback
• Enables quick product iterations
• Best for software and digital products

Waterfall Method

• Effective for well-defined requirements
• Provides clear project structure
• Works in regulated industries

Hybrid Approaches

• Combines planning from Waterfall
• Uses Agile for execution
• Balances structure and flexibility

4. Tools and Techniques

Jack mentions that he has personally used more than 70% of the tools in PDMA’s Body of Knowledge. These tools span different product development stages:

Development Stage Tools Used Purpose Concept Development Design thinking methods Generate and evaluate ideas Product Testing Alpha and beta testing Validate product concepts Manufacturing Pilot production models Verify production capability

5. Market Research

Jack emphasizes that market research remains the most important skill for product managers. Modern approaches include:

Advanced Research Technologies

• Eye tracking for user experience studies
• AI-powered customer insight analysis
• Predictive analytics for market trends
• Sensory analysis techniques

6. Culture and Organization

Organizational culture significantly affects product development success. Jack shares team structures that work:

• Cross-functional collaboration
• Clear role definitions
• Balanced technical and business input

7. Product Lifecycle Management

Jack shares a personal story about understanding market adoption patterns. When he started his consulting business, he initially focused on multinational companies in Taiwan, thinking his experience with foreign companies would be an advantage. Despite getting over 50 inquiries in his first year, he secured no deals. Reading Crossing the Chasm helped him understand why – these companies were early majority adopters, not early adopters, making them hesitant to work with a new consulting firm.

Real-World Applications

The Logitech Left-Handed Mouse Project

Left-handed boy using computer and mouse

Jack shares an interesting case study from his time at Logitech. The project, named “Sicily Left,” aimed to create a mouse specifically for left-handed users. Key insights include:

• Market opportunity analysis:
  • Left-handed users represent 10% of population
  • Right-handed users could use the mouse with their left hand while writing
• Technical challenges:
  • 30% of internal components needed redesign
  • Simple mirroring wasn’t possible
  • Full testing required for new design
• Product outcomes:
  • Successful project execution
  • Six-year product lifespan
  • Lower than expected sales volume

Jack learned that the wrong business case for a project leads to a sub-optimal result.

Sony Ericsson Portfolio Management

Jack’s experience managing mobile phone portfolios provides valuable lessons:

Challenge Solution Outcome Resource allocation across regions Cross-cultural negotiation Balanced compromise on project numbers Product line overlap Price point coordination Reduced internal competition Global team coordination Holiday schedule planning Improved workflow management

Project Management vs. Product Management

During our discussion, Jack helps clarify the important differences between project and product management:

Aspect Project Management Product Management Timeline Focus Specific project duration Full product lifecycle Success Metrics On-time, on-budget delivery Market success, customer satisfaction Scope Defined project requirements Evolving product strategy

Conclusion

In this episode, Jack demonstrates how PDMA’s framework guides successful product development. His experiences at global companies like Sony Ericsson and Logitech show how these principles help product managers handle complex challenges. Whether you’re managing consumer electronics, aerospace products, or software, these insights can help you create better products and advance your career in product management.

Useful links:

• Learn more about Jack’s consultancy, Maestro
• Learn more about PDMA

Innovation Quote

“Innovation takes dedication, but the choice is more important than the dedication.” – Jack Hsieh

Application Questions

1. How could you use PDMA’s portfolio management ideas to better manage your product mix?
2. Which parts of your development process might work better using the hybrid approach Jack describes?
3. What new market research methods could help your team understand customers better?
4. How could you improve the way project and product managers work together in your organization?

Bio

Jack Hsieh has 20 years of experience in planning, executing, managing, and consulting on innovation projects across the world. Jack is the President at Maestro Project Management Consultants, which helps clients with innovation management, new product development, and project management. Previously, at Sony Ericsson, he led a cross-functional international team to develop handheld devices that served millions of users worldwide.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

Product innovation lessons from social media content creation

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TLDR

In this episode of Product Mastery Now, I’m interviewing Leah and Philip Abraham, a creative duo with expertise in songwriting, acting, music production, and filmmaking. Their diverse background offers valuable lessons for product managers looking to improve their innovative thinking techniques. Throughout our conversation, we explore insights from their creative process that can be applied to product innovation and management.

• Innovation is a learnable process, not just an innate talent
• Complementary skills in teams can lead to more holistic product innovation
• Balancing intuition with data-driven decision-making enhances product development
• Rapid prototyping and iterative development accelerate learning and innovation
• Embracing a “no bad ideas” culture fosters creativity in product teams
• Learning from failures and maintaining enthusiasm through setbacks is crucial for long-term success
• Continuous learning and adaptation of innovation processes are essential in product management

This episode explores insights from creative professionals that can be applied to enhance innovation in product management, offering practical strategies for product managers to foster creativity, leverage rapid feedback cycles, and overcome challenges in the innovation process.

Dismantling Misconceptions About Innovation

We start by addressing common misconceptions about innovation, particularly the belief that creativity is an innate talent rather than a skill that can be developed. This idea is especially important for product managers and leaders responsible for driving innovation within their organizations. Leah and Philip share their experiences, showing that innovation is indeed a process that can be learned and improved over time.

Complementary Creativity in Partnerships

Leah and Phillip have experience in acting and film production and are now most famous for cinematic shorts on social media. They explain that they enjoy creative collaboration in many areas, including filmmaking, photography, music, and art.

Leah and Phillip share that their creativity is complementary and they bring out creativity in each other. Phillip has a technical background while Leah focuses on character arcs.

Innovation in the Creative Process

When making a skit, Leah and Phillip often start with a sketch of the story and improv to fill in the details. They’re often inspired to make a skit based off something that happens in their lives. For example, a recent video called “When they cancel plans but you’re both introverts,” was inspired by Leah and Phillip’s introvertedness.

Leah and Phillips use a  “no bad ideas” approach, which creates a safe space for sharing and building upon concepts. They give each other permission to throw out ideas without shame and then make those ideas better together.

Benefits of Rapid Feedback Cycles

Compared to producing a whole film, creating short-form content on social media provides more opportunity to receive rapid feedback and iterate. Analytics let Leah and Phillip see what aspects of their content viewers are engaging with most. Sometimes the parts of their content they almost didn’t include end up being the most popular with their audience.

Leah and Phillip share that feedback from viewers has been affirming and eye-opening, and the most fulfilling part of their creative process is figuring out what viewers like about their content and building an intuition for creating engaging content.

The Role of Intuition in Creativity and Innovation

Leah and Phillip explain that they’re learning about to balance intuition with data-driven decision making. I think of intuition as my experience taking shape that my brain hasn’t recognized yet. Leah describes intuition as your body knowing something before your mind can articulate it. She had an intuition that she and Phillip should start doing social media and that it made sense for their hodgepodge of creative skills. They observed that most viral TikTok videos were not high-quality narrative skits and decided to use their skills to fill that gap.

Conclusion

This episode offers valuable perspectives on fostering creativity and innovation in product management. By embracing collaborative approaches, rapid prototyping, and a willingness to learn from failures, product teams can enhance their innovation capabilities and create more successful and impactful products.

Key takeaways for product managers:

• View innovation as a learnable process, not just innate talent
• Leverage complementary skills within teams for holistic innovation
• Balance intuition with data-driven decision-making
• Embrace rapid prototyping and iterative development
• Foster a culture that encourages risk-taking and learns from failures
• Continuously evolve and adapt innovation processes

Useful links:

• Check out Leah and Phillip’s content on YouTube and other social media platforms @leahandphillip
• Watch the trailer for Leah and Phillip’s film, Where Were You

Innovation Quotes

“If opportunity doesn’t knock, build a door.” – unknown

“Success is stumbling from failure to failure without any loss of enthusiasm.” – Winston Churchill

Application Questions

1. How can you create a “no bad ideas” culture within your product development process? What obstacles might you face, and how can you overcome them?
2. In what ways can you implement rapid prototyping and testing in your current product development cycle? How might this affect your timelines and resource allocation?
3. How do you currently balance intuitive decision-making with data-driven approaches? Are there areas where you could improve this balance?
4. What strategies can you implement to better learn from your failures and maintain team enthusiasm through setbacks?
5. How can you encourage team members to step outside their comfort zones and explore new approaches to product innovation?

Bio

Leah and Phillip Abraham are an up-and-coming social media couple known for their highly cinematic viral skits, which have gained over 85 million views since their launch in February of 2024. Having both spent over a decade hustling in Hollywood, and acting on shows like Aquarius, CSI, Ballers, and Good Trouble, they found a ceiling placed on their potential as creatives, ultimately moving to Nashville and starting their production company, Philea Media. Together they wrote, produced, and acted in a feature-length musical that is loosely based on how they met, which is scheduled to premiere at film festivals in 2025. 

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

How product managers can foster a culture of innovation

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https://youtu.be/14cLrVAu7BA

TLDR

In this episode of Product Mastery Now, I’m interviewing Chris Elmore, a tech entrepreneur and college professor who helped found Avid Exchange, a unicorn startup that went public in 2021. Chris brings years of experience in product innovation and management, and he’s here to share his thoughts on driving innovation and keeping businesses growing for the long haul. Here are the key points from our conversation:

• A simple definition of innovation: “It’s better than what it was”
• Rethinking organizational structure can improve the flow of innovative ideas
• Hiring should focus on cultural fit and alignment around organization mission and purpose
• Everyone in an organization can be an innovator

The Importance of Innovation in Today’s Business World

As we start our chat, Chris highlights why innovation matters so much in today’s fast-moving business world. Products and services don’t stay relevant as long as they used to. Because of this, companies can’t just rely on what worked in the past. Innovation is key to keeping a business growing and thriving.

Building a Culture That Supports Innovation

One of the main topics we explore in this episode is how a company’s culture can help or hinder innovation. Culture is the unwritten rules of an organization – what people are allowed and expected to do. Chris shares his experience of keeping a strong culture, and even improving it, as his company grew. This challenges the common idea that company culture always gets worse as a business gets bigger.

Chris says that the quickest way to destroy culture is to put someone in charge of it. When someone is in charge of culture, the culture becomes that person’s version of culture.

Instead of taking charge of culture, leaders can use stories to reinforce a culture of innovation. For example, Chris tells his teams a story of how he tells his kids that he doesn’t care about their grades as long as they’re putting in full effort, but usually full effort leads to good grades. This communicates to his team that effort will eventually lead to the desired outcome.

Rethinking How Companies Are Structured to Support Innovation

We also discuss Chris’s thoughts on how company structure can affect innovation. He critiques traditional hierarchies, suggesting they can make it hard for innovative ideas to flow, especially ideas from employees who work closely with customers.

Chris observes that most good ideas come from the middle third of an organizational chart. Often, people in the middle or bottom third of an organization try to communicate their ideas to leadership who don’t understand the idea or are scared of innovation, so many great ideas fail.

Instead of a traditional org chart, Chris proposes thinking of the organization as a curve that represents everyone’s understanding of where the organization is going. The beginning of the curve represents where the organization is today, and the end represents where the organization needs to go. The goal of a leader is to get the organization over the valleys to go further down the curve. This approach focuses on aligning everyone in the organization towards common goals and outcomes, rather than rigid reporting structures.

Producing Alignment

To explain what the organization is working toward and get a team aligned around common goals, Chris concentrates on three things: mission, purpose, and outcome. The mission and purpose should be aligned with the organization’s outcomes. If not, we have work to do. If someone can’t get behind the mission and purpose, they can’t be in the organization anymore.

Building Innovative Teams: A Fresh Approach to Hiring

Chris takes an unusual approach to hiring. He focuses on the person rather than their resume. In fact, he says he’s never read a resume in his life. This approach allows him to assess candidates based on their potential and how well they fit with the company culture, rather than just their past experiences and qualifications.

A Simple but Powerful Definition of Innovation

Chris offers a simple definition of innovation: “It’s better than what it was.” This straightforward idea makes innovation something everyone in the company can understand and participate in, not just the people in research and development or product design.

A Customer-Focused Approach to Innovation

Chris advocates for a broad definition of “customer” that goes beyond just the end-users of a product or service. He explains that customers include internal and external stakeholders and even employees’ families. Product managers should think about serving all of those customers.

This wider view encourages product managers and leaders to consider the needs and perspectives of various stakeholders when driving innovation. By considering a wider range of “customers,” organizations can ensure their innovations create value not just for end-users, but for employees, investors, partners, and even the families of team members.

Everyone can be an Innovator

Chris wants everyone in his organization to be aware that they can be an innovator. In his company, every time someone was hired, Chris gave them his definition of innovation and told them it’s their job to be an innovator.

The Power of Small, Continuous Improvements

While big, disruptive innovations often get the most attention, Chris emphasizes the importance of small, ongoing improvements. He explains that small innovations over a long period of time is a huge thing.

This view encourages product managers and leaders to focus not just on big breakthroughs, but also on the cumulative impact of smaller, incremental improvements over time.

Conclusion

Driving innovation in product management is about more than just developing new features or technologies. It’s about creating an environment where innovation can thrive at every level of the organization. A culture of innovation leads to better products and more resilient organizations. Innovation is simply about making things “better than they were.” As product managers and leaders, our challenge is to embody this principle in our daily work and inspire our teams to do the same so that we can ensure our organizations not only keep pace with change but lead the way in creating value for our customers and stakeholders.

Innovation Quote

“Luck is when opportunity meets preparedness.” – Earl Nightingale

Application Questions

1. How can you simplify your definition of innovation to make it more accessible to everyone in your organization?
2. Have you ever acted as an innovator while working in a role that is not traditionally innovative? Or have you seen another employee do this?
3. What small, incremental innovations could you implement in your products or processes that might lead to significant improvements over time?
4. How can you expand our definition of “customer” to include a wider range of stakeholders? How might this change your approach to innovation?
5. What aspects of your organizational structure or culture might be hindering innovation? How can you address these barriers?

Bio

Chris Elmore is a seasoned tech entrepreneur and a respected college professor. Chris played pivotal roles in the founding of fintech AvidXchange, a unicorn startup that went public in 2021 with a $2.3B valuation. At AvidXchange his roles spanned numerous functions, including development, product, marketing, and mergers and acquisitions. Chris is also a passionate musician, performing solo and in bands as a singer with his guitar and ukulele.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

How product managers can use AI to work more efficiently

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TLDR

• AI is changing how we manage products and come up with new ideas, giving us new tools to work faster and be more creative.
• AI can help in many parts of making a product, from research to writing product plans and documents.
• To use AI well in product management, we need to know how to ask it questions (called prompt engineering), balance AI ideas with human know-how, and always double-check AI’s work.
• AI can make tasks faster, but it’s important to keep people involved and use AI to help, not replace, our usual ways of working.
• The future of product management will involve using more AI tools, like advanced language models and creating fake data for testing. We’ll need to keep learning as AI keeps getting better.

Introduction

In this episode, I’m interviewing Brian Collard, an expert in managing big projects and plans for global companies. Brian has been working for 15 years in different industries like finance, healthcare, and technology. We’re talking about how artificial intelligence (AI) is changing the way we manage products and come up with new ideas.

As people who manage products, lead teams, or come up with new ideas, we’re right in the middle of this AI revolution. We need to figure out how to use AI to make products that customers will love, while also dealing with all the new things AI brings to the table.

Before using AI, check your organization’s policy to make sure you’re in compliance. Be careful when using AI, especially with sensitive information.

AI in the Product Development Lifecycle

Discovery and Research Phase

Large language models can come up with ideas, but always keep humans in the loop. AI is a great way to augment the discovery process, but it won’t completely replace traditional research methods.

Brian recommends a three-step formula for prompting AI:

• Input: provide context
• Create scaffolding: understand typical processes that industry experts use
• Output: the output from the AI is now more valuable to you because you have documented the inputs and processes that created it

Creating Product Briefs with AI

One area where Brian sees significant promise is in the creation of product briefs. He shares that product managers are reporting efficiency gains of around 50% when using AI to assist in drafting these important documents. AI can help with:

• Rapid generation of initial draft product briefs
• Assistance in structuring briefs with key components
• Increased output and iterations

Brian notes that while AI can significantly speed up the process of creating product briefs, these documents often require nuanced understanding and strategic thinking. He advises using AI as a starting point, but always reviewing and refining the output to ensure it aligns with product strategy and organizational goals.

Artificial Intelligence and Hallucinations

Large language models can hallucinate, or make up information, such as links that do not exist. Brian recommends the tool Perplexity.ai, which removes hallucinations and brings in real-time information. He also recommends that we trust but verify when using information from AI.

Mastering Prompt Engineering for Product Managers

Brian gives some tips for talking with AI tools, or prompt engineering.

The Importance of Context

Brian explains that when we use AI tools, we need to give them clear background information. This helps the AI understand exactly what we’re working on and what we need.

Chain of Thought Prompts

Brian introduces the idea of chain of thought prompts. This means guiding the AI through a series of steps. It’s especially useful for complex tasks.

For example, “Here are three product ideas. Based on these ideas, please give me another one.”

Logical Reasoning Prompts

Encourage AI to use logical reasoning by giving it examples or frameworks. This can be particularly helpful for tasks like figuring out market size or making financial projections.

For example, “Given a particular market size and capture rate, how many sales do I need to break even?”

You can get similar results by including the words, “think step by step,” in your prompt.

Tips for Prompts

You can ask the AI model, “How would you improve this prompt?”

The AI tends to remember the beginning and end of a prompt. Instead of providing one long prompt, provide a series of short prompts, asking the AI to refine its response each time.

For example, begin with an outline of a product brief, and then ask the AI to fill in the sections. This also helps make your work more defensible in front of an executive, because you can explain how you created it.

Brian recommends the tool Superpower GPT, which allows you to run a series of prompts (a prompt chain) all at once.

Market Research Techniques

Brian explains how AI is revolutionizing market research, offering new ways to gather and analyze data. He mentions using tools like Perplexity.ai for real-time information gathering and fact-checking.

Persona Generation

AI can help create more detailed and data-driven user personas, including the generation of synthetic personas based on market trends and user data.

Needs and Requirements Documentation

AI can assist in documenting and organizing product requirements, including automated extraction of requirements from various sources.

SWOT and PESTLE Analysis

AI tools can enhance traditional strategic analysis frameworks like SWOT and PESTLE analysis.

AI as a Complement to Traditional Methods

Brian emphasizes the importance of viewing AI as a complement to, rather than a replacement for, traditional product management methods. He discusses the use of synthetic data and personas, and the importance of balancing AI insights with direct customer interaction.

Best Practices for Using AI in Product Management

Brian shares several best practices for integrating AI into product management workflows:

• Treat AI as a collaborative tool
• Break down complex prompts
• Leverage advanced AI tools
• Adopt a “trust and verify” model

Conclusion

In this episode, we’ve explored with Brian Collard how bringing AI into product management offers significant opportunities for innovation and efficiency. Brian reminds us that AI is a tool, not a replacement for human expertise. The most successful product managers will be those who can effectively combine AI-driven insights with their own experience, intuition, and strategic thinking.

Useful links:

• Learn more about Brian’s innovation consultancy, Novaisys
• Prompting resources:
  • Prompting Guide
  • OpenAI – Models 4o and before
  • OpenAI – Interacting with Model “o1”
  • Microsoft Research
  • SELF-DISCOVER: Large Language Models Self-Compose Reasoning Structures
• Check out Perplexity.ai
• Check out Superpower ChatGPT

Innovation Quote

“I haven’t failed. I just found 10,000 ways the product hasn’t work yet.” – based on a quote from Thomas Edison

Application Questions

1. How can you bring AI tools into your current product development process to work more efficiently without losing quality?
2. Which specific areas of your product management work could benefit most from AI help, and what challenges might you face when starting to use AI in these areas?
3. How can you make sure you keep a good balance between AI-driven insights and traditional customer research in your product strategy?
4. What skills and training might your product management team need to effectively use AI tools in your work?
5. How can you set up a system to double-check AI-generated insights that fits with how your organization makes decisions?

Bio

Brian Collard has 15 years of experience in managing strategic project portfolios for global organizations. He has proven success across multiple industries including finance, healthcare, and technology. Brian holds a degree in engineering and an advanced business degree and is the co-founder of the St. Louis PDMA chapter.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

Insights for product managers from a professor teaching engineering design and prototyping

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TLDR

• The value of starting with simple, low-fidelity prototypes
• The importance of focusing on the problem before jumping to solutions
• The need for making well-supported decisions throughout product development
• Real-world examples of how prototyping leads to innovative solutions

Introduction

In this episode of Product Mastery Now, I’m talking with Dr. Matthew Wettergreen, Associate Teaching Professor at the Oshman Engineering Design Kitchen (OEDK) at Rice University. We discuss the benefits of low-fidelity prototyping, the engineering design process, and how to use prototypes effectively to solve problems and validate ideas. The episode also covers potential pitfalls in prototyping and best practices for product managers.

The Power of Prototyping in Product Management

The Oshman Engineering Design Kitchen at Rice University is an academic makerspaces where students learn innovation and product development skills. This 20,000 square foot facility has top-notch machines for digital and 3D prototyping, allowing students to create products that look like store-bought items.

Prototyping is a key tool for product managers who want to create value for customers. Matthew explains that prototypes help product managers confidently develop solutions that make customers happy. By using prototypes wisely, product teams can figure out what truly meets customer needs and test solutions before launching them in the market.

The Value of Low-Fidelity Prototyping

Matthew has discovered that in many parts of the world, people build things with no budget at all, not just a low budget. He saw this resourcefulness in places like Ethiopia, where everyday items are reused in clever ways. For example, highway dividers made from cut-up palm oil containers show how people can create solutions with limited resources.

In the OEDK, students have access to high-tech equipment, but they won’t always have the OEDK available to them. At the ODEK, students always start with no budget and prototype using readily available materials.

This approach, called low-fidelity prototyping, has several benefits:

• Causes students to produce more prototypes
• Results in higher fidelity and resolution in the final product
• Only require practical ingenuity and creative problem-solving to produce
• Encourages quick iteration
• Allows for fast and cheap testing of ideas
• Makes it easier for people to work together and share ideas

Types of Prototypes and Their Fidelity

Prototyping is a method of problem-solving that creates physical or digital objects, called artifacts.

Prototype Fidelity Characteristics Best Use Low-Fidelity Meets few design goals, not at the right scale, made from analogical materials Early brainstorming, fast testing of ideas Medium-Fidelity Meets some design goals, close to actual scale, made from mostly suitable materials User testing, gathering detailed feedback High-Fidelity Meets most design goals, at the correct scale, made from the best available materials Final testing, showing to stakeholders

The Engineering Design Process

Matthew introduces the seven-step Engineering Design Process used at the OEDK:

This approach begins with understanding the problem before jumping to solutions. Fifty-one percent of the design experience should be spent in the prototyping, testing, and iterating phase.

1. Clarify the team assignment
2. Develop a Design Context Review
3. Set design objectives and constraints
4. Develop solution options
5. Evaluate solutions
6. Prototype and test iteratively
7. Iterate based on feedback

Overcoming Challenges in the Design Process

One of the main challenges in product development is the tendency to rush into solutions without fully exploring the problem. Matthew offers several strategies to overcome this:

• Use the “freezer” concept: Put initial ideas on hold to allow for deeper problem exploration
• Collect extensive information about the topic before brainstorming then marinate on that information and allow your subconscious to form connections
• Collaborate with diverse teams to bring in different perspectives

Matthew also addresses the myth of the lone innovator: People who seem like lone innovators, like Steve Jobs or Thomas Edison, actually represent an immense number of humans who supported their accomplishments. Successful innovation is almost always a team effort. Matthew tells his students, “Work with people who are smarter than you and work with people who think differently from you. You will be better as a result of that.”

Case Studies from the OEDK

To show how prototyping works in real-world scenarios, Matthew shares two interesting case studies from the OEDK:

1. Giraffe Enrichment Project for Houston Zoo

The challenge was to extend the feeding time for giraffes in captivity to better match their natural eating habits. This project shows how prototyping often involves multiple attempts:

• First attempt: Giraffes didn’t interact with the prototype
• Second attempt: Didn’t hold enough hay
• Third attempt: Used dangerous materials (wire)
• Fourth attempt: Successfully created a hay-shaped box with safe materials

The final prototype has been used at the Houston Zoo for nearly a decade and has been adopted by other zoos.

2. Apollo BVM Ventilator during COVID-19

During the early stages of the COVID-19 pandemic, the OEDK team quickly developed a bridge ventilator called the Apollo BVM. This project highlights the power of rapid prototyping and iteration:

• Intense development period of one month
• Collaboration with respiratory therapists and pulmonologists
• Parallel prototyping of individual components and the whole system
• Resulted in a functional product that was licensed for use during the ventilator shortage

Potential Pitfalls in Prototyping

Prototypes can be used in a misleading way, such as presenting a beautiful prototype to convince stakeholders that it’s a good solution, rather than collecting feedback. It is acceptable to produce an ugly prototype, but it is less acceptable to produce a beautiful prototype that lacks all functionality in order to mislead people.

Matthew recommends that his students prepare focused questions for client conversations about prototypes and share assumptions built into the prototype’s design with the client. This allows clients to give suggestions for revising these assumptions.

Best Practices in Prototyping for Product Managers

1. Fall in love with the problem, not the solution
2. Whenever possible, allow stakeholders to physically handle prototypes, as this often leads to different insights than just viewing images or videos.
3. Overcome the “I’m not good at prototyping” mindset: Encourage team members to build to learn.

Conclusion

Key takeaways from this episode include the value of starting with simple prototypes, the importance of focusing on the problem before rushing to solutions, and the need for well-supported decision-making throughout the product development process. By applying these insights to their work, product managers can drive innovation and create more value for their customers and organizations.

Useful links:

• Learn more about the Oshman Engineering Design Kitchen
• Check out the Global Medical Innovation Master of Bioengineering that Matthew runs
• Connect with Matthew on LinkedIn

Innovation Quote

“Make defensible decisions.” – Matthew Wettergreen

Application Questions

1. How can you incorporate more low-fidelity prototyping into your early-stage product development process?
2. In what ways can you improve your process for gathering and incorporating user feedback on prototypes?
3. How can you help foster a culture that values “falling in love with the problem” rather than becoming too attached to specific solutions?
4. Where might you be rushing to solutions without fully exploring the problem?
5. How can you use prototyping to improve collaboration across different teams and departments in your organization?

Bio

Matthew Wettergreen is Director of the Global Medical Innovation Master of Bioengineering program and the Program Director of the NSF-funded I-ACED Scholar Program at Rice University. He is also an Associate Teaching Professor at the award-winning Oshman Engineering Design Kitchen (OEDK) at Rice University, recruited as the first full-time faculty hire in 2013. At the OEDK he co-developed the engineering design curriculum, including the flagship first-year engineering design course and the Prototyping and Fabrication course. Wettergreen is the co-author of the textbook Introduction to Engineering Design. Over nearly fifteen years of developing client-based engineering design courses and with a deep interest in engineering education, Dr. Wettergreen has deployed engineering design curriculum and helped to support the development of makerspaces on five continents. His design work has been featured on the cover of NASA Tech Briefs, in the Wall Street Journal, The Atlantic, Make Magazine, and Texas Monthly. 

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

DFW Airport’s journey to winning PDMA’s 2024 Outstanding Corporate Innovator Award

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TLDR

In this episode of Product Mastery Now, I’m interviewing Jodie Brinkerhoff, VP of Innovation at DFW Airport, about DFW’s journey to winning PDMA’s Outstanding Corporate Innovator (OCI) Award. The discussion covers DFW’s approach to airport innovation, including their dedicated innovation team, strategic focus areas, and unique challenges as a government organization. Brinkerhoff shares insights on fostering an innovation culture, collaborating across departments, and balancing innovation with operational demands in a complex airport environment. The episode provides valuable lessons for product managers and innovators in various industries, highlighting the importance of executive sponsorship, employee engagement, and a structured innovation process.

The Outstanding Corporate Innovator (OCI) Award

For 37 years, companies have competed each year to be recognized as the Outstanding Corporate Innovator, awarded by the Product Development and Management Association (PDMA). The selection process seeks companies that consistently generate and harness long-term value through exceptional product and service innovation. Winning companies demonstrate well-defined new product development practices and processes which have contributed to their innovation success. Open to companies worldwide, the award epitomizes innovation excellence.

One of the 2024 winners is the DFW Airport. Let’s find out what makes this airport an exceptional innovator. I’m with Jodie Brinkerhoff, the VP of Innovation at DFW Airport.

PDMA and the Inspire Innovation Conference

The PDMA, founded in 1976, is the longest-running professional association for product managers, leaders, and innovators worldwide. PDMA contributes significantly to research and knowledge in the field of product innovation. I recorded this interview at the 2024 Inspire Innovation Conference, which serves as a platform for sharing insights and best practices in product development and innovation management.

Innovation at DFW Airport

DFW Airport’s commitment to innovation dates back to its inception 50 years ago. However, recognizing the need for a more structured approach to innovation, the airport established a dedicated innovation team in 2018. This decision was driven by several factors:

• The lack of a shared process and language for innovation across the organization
• Operational demands limiting the focus on innovation
• The need to de-risk the future of airport operations

Brinkerhoff explains that innovation has always been part of DFW’s DNA, baked into the mission, vision, and values of the organization. However, as technology continued to change and the pace of change grew, there was a recognition that a more formalized approach was needed.

DFW Airport Operations and Innovation Challenges

As one of the world’s busiest airports, DFW faces unique challenges in implementing innovation:

Challenge Description Scale of Operations Up to 300,000 people daily; 2,000 DFW employees and 65,000 total workers on-site Operational Demands Balancing day-to-day operations with long-term innovation initiatives Government Organization Status Navigating regulatory constraints and procurement processes

Managing an airport operation is complex. This operational focus can often draw attention away from innovation efforts, especially during busy periods or when issues arise.

DFW’s Innovation Approach

The airport’s innovation strategy aligns closely with its overall strategic planning, focusing on four key areas:

1. Operational excellence
2. Customer experience
3. Sustainability
4. Building the airport of the future

The innovation team at DFW plays a crucial role in advancing these strategic objectives by:

• Collaborating with business executives and front-line staff
• Actively listening for improvement opportunities
• Developing solutions to address identified challenges and de-risk future operations

The innovation team’s approach involves working closely with business executives and people on the front line to ensure they’re listening to instances where things could have been done better or where issues arose due to unforeseen circumstances, such as severe weather.

Innovation Culture at DFW

Fostering an innovation culture is a key priority for DFW Airport. The organization has implemented several initiatives to promote innovative thinking:

• Innovation training for all new hires within their first six months
• Promoting an innovation mindset centered on asking questions, exploring options, and controlled experimentation
• Building a network of innovation ambassadors across various departments

The innovation mindset training focuses on three main principles:

1. Asking questions: Encouraging employees to be curious and challenge the status quo
2. Exploring options: Looking beyond the first solution that comes to mind
3. Experimenting in controlled ways: Testing ideas in safe environments before full implementation

The OCI Award Application Process

DFW Airport’s journey to winning the OCI Award spanned two years. Their first application in 2023 provided valuable feedback, particularly regarding the need to improve their innovation metrics. The second application in 2024 included an on-site review process, allowing the PDMA team to experience DFW’s innovation initiatives firsthand through presentations and an airport tour.

The on-site review was an intensive 10-hour day, which included:

• Presentations from the innovation team and other departments
• Executive sessions to discuss metrics and measurement approaches
• A four-and-a-half-hour tour of the airport, showcasing various innovation projects
• Interactions with 34 people from across the organization, representing different divisions and initiatives

This comprehensive review process allowed DFW to demonstrate the depth and breadth of their innovation efforts, ultimately leading to their OCI Award win.

Resourcing Innovation at DFW

Effective innovation at DFW Airport relies on several key elements:

• Strong executive sponsorship and support
• A dedicated innovation team structure
• Close collaboration with other departments
• A synergistic relationship with the IT department

Brinkerhoff emphasizes the importance of having executive buy-in and a dedicated budget for innovation activities. When she joined DFW, she asked three crucial questions:

1. Who is our sponsor?
2. Do I have my own budget?
3. Can I build a team the way I want to build it?

These questions ensured that the innovation team had the necessary resources and support to drive meaningful change within the organization.

Innovation Process at DFW

DFW Airport has developed a structured innovation process that includes:

• Regular idea generation and evaluation sessions
• A well-managed project pipeline
• Executive sponsorship for selected projects
• Established checkpoints for business decisions throughout the innovation lifecycle

The front-end innovation team is responsible for being out in the operation on a monthly basis, listening for problems, and seeking out opportunities. The team meets every other month to discuss new ideas based on trends, marketplace observations, or feedback from operational staff.

The process also includes multiple checkpoints with executive sponsors to ensure projects remain aligned with strategic goals and receive necessary resources.

Unique Challenges of Innovation in an Airport Setting

Innovating in an airport environment presents distinct challenges:

• Balancing customer experience improvements with community stewardship
• Maintaining stringent safety and security standards
• Navigating government organization constraints, particularly in procurement processes

As a government organization, DFW Airport has different priorities compared with private companies. Their focus is on delivering a great customer experience and being good stewards of the community, rather than solely on revenue and shareholder value.

She also noted the additional complexities of procurement and compliance in a government setting, which can make implementing new technologies and processes more challenging.

DFW’s Innovation Philosophy

At the core of DFW’s innovation efforts is the slogan “DFW Innovates.” This philosophy is built on the belief that everyone within the organization can contribute to innovation. Brinkerhoff noted that this approach has had a significant impact on the airport’s organizational culture, fostering a more engaged and forward-thinking workforce.

The innovation team at DFW has successfully integrated this philosophy into their daily operations, creating opportunities for employees at all levels to participate in the innovation process. This inclusive approach has led to a more dynamic and responsive organization, better equipped to address the complex challenges of modern airport management.

DFW has created a network of innovation ambassadors across various departments, helping to spread the innovation mindset throughout the organization. This network has been crucial in building support for innovation initiatives and encouraging participation from employees at all levels.

Conclusion

As the third busiest airport in the world, DFW faces unique challenges in maintaining operational excellence while driving innovation. The complexity and diversity of airport operations require a multifaceted approach to innovation, involving stakeholders from various departments and considering a wide range of factors, from customer experience to safety and security.

DFW’s commitment to innovation, as exemplified by their “Future of Travel Transformed” motto, positions them at the forefront of airport innovation. Their success in winning the OCI Award demonstrates the effectiveness of their structured approach to innovation management and their ability to balance short-term operational demands with long-term strategic goals.

The lessons learned from DFW Airport’s innovation journey offer valuable insights for product managers and innovators across industries. By fostering a culture of innovation, securing executive support, and implementing a structured innovation process, organizations can drive meaningful change and create lasting value for their customers and stakeholders.

Useful link:

• Learn more about PDMA and the Outstanding Corporate Innovator Award

Innovation Quote

“We believe that everyone can innovate.” – Jodie Brinkerhoff, describing the culture of innovation at DFW

Application Questions

1. How could you apply DFW Airport’s approach to balancing day-to-day operations with long-term innovation initiatives?
2. What strategies can you employ to foster an innovation culture similar to DFW’s “everyone can innovate” philosophy in your organization?
3. How might the concept of innovation ambassadors be adapted and implemented in your company to promote widespread engagement in innovation efforts?
4. In what ways can you improve collaboration between innovation teams and other parts of your organization, similar to the synergy described at DFW Airport
5. How can the structured innovation process used by DFW, including idea generation, evaluation, and executive sponsorship, be tailored to fit your organization’s needs and constraints?

Bio

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

To survive, your company must sell multiple products

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TLDR

In this episode, I’m interviewing Greg Coticchia, an experienced CEO and product management expert. The discussion focuses on the challenges and strategies involved in expanding from a single product to multiple products. Key points include:

• Why companies have to expand to multiple products to survive
• The importance of portfolio management in product development
• Cultural challenges in product expansion
• Strategies for building influence as a product manager
• Lessons from successful companies like Apple and Netflix
• Practical tips for navigating the Second Product Problem

The episode provides valuable insights for product managers looking to navigate the complexities of product diversification and enhance their leadership skills.

Introduction

Your organization’s survival depends on its ability to successfully expand from a single product to multiple products. This episode features an in-depth conversation with Greg Coticchia, CEO of SE Healthcare and product management expert. Greg shares his extensive experience and insights on the challenges and strategies involved in product portfolio management and business growth strategies.

The Importance of Portfolio Management

As product managers advance in their careers, understanding portfolio management becomes increasingly crucial. Greg explains that while senior product leaders recognize the necessity of portfolio management, product managers often question its relevance to their role. The key takeaway is that understanding how projects are selected is essential for gaining support for new ideas and initiatives.

The Challenge of Expanding from One Product to Multiple Products

Greg introduces the concept of the Second Product Problem, highlighting the difficulties organizations face when transitioning from a single product to multiple offerings. He emphasizes several key points:

• The rarity of creating a commercially successful product
• The tendency for companies to equate their identity with their first successful product
• The need for multiple products to ensure long-term business sustainability

Greg points out that it’s extremely rare for a software product to reach $100 million in revenue. This reality underscores the importance of diversifying a company’s product portfolio to achieve significant growth and longevity.

Cultural Challenges in Product Expansion

One of the most significant obstacles in product diversification is the cultural shift required within the organization. Greg identifies several challenges:

• Company-product identity issue: Organizations often struggle to separate their identity from their initial successful product.
• Resource allocation challenges: Deciding how to distribute resources between existing and new products can be contentious.
• Risk perception and management: The fear of cannibalizing existing product success can hinder innovation.

Greg explains that these cultural challenges often lead to resistance when introducing new products. Employees who have been with the company for a long time may find it difficult to adapt to new directions, especially if they’ve been successful with the original product.

Strategies for Successful Product Expansion

To overcome these challenges, Greg suggests several strategies:

Creating Autonomous Teams

Following the example of Apple’s Macintosh development, physically separating new product teams can foster innovation. Greg shares the story of how Steve Jobs moved the Macintosh team to a separate building and raised a pirate flag, symbolizing their independence from the rest of Apple.

Addressing Cultural Issues

Recognizing the importance of having the right people and dealing with resistance to change is crucial. Greg emphasizes that sometimes, clearing the decks and letting go of team members who aren’t aligned with the new direction is necessary for success.

Clear Corporate Management Focus

Shifting from a product-centric to a company-centric approach and delegating product responsibilities effectively is essential. This change requires executives to focus on overall company strategy rather than getting involved in specific product decisions.

Strategy Description Benefits Autonomous Teams Physically separate new product development teams Fosters innovation, reduces interference from existing product teams Cultural Alignment Ensure team members are aligned with new product vision Reduces resistance to change, improves collaboration Corporate Focus Shift Move from product-centric to company-centric management Enables better resource allocation and strategic decision-making

Structural Approaches to Product Expansion

Greg discusses various structural approaches to product expansion:

The Skunk Works Approach

Creating a separate, autonomous team for new product development can help foster innovation and avoid interference from existing product teams.

Physical Separation of New Product Teams

This approach can help reduce interference from existing product teams and foster a unique culture. Greg shares an example from his consulting work with Vertex, a tax software company. Vertex successfully expanded its product line by physically separating its new SaaS cloud solution team from the main organization.

Lessons from Successful Companies

Vertex Tax Software

Greg explains how Vertex allowed its new product team to establish everything from pricing to terms and conditions independently. This separation continued until the new product reached $5-10 million in revenue before being reintegrated into the main organization.

Apple’s Transition from iPod to iPhone

Greg discusses how Apple was willing to cannibalize its successful iPod product line by introducing the iPhone. This move demonstrates the importance of innovation and risk-taking in maintaining market leadership.

Netflix’s Pivot from DVD Rentals to Streaming

This example showcases the value of anticipating market changes and adapting business models accordingly. Netflix made the bold decision to shift its focus from DVD rentals to streaming, effectively disrupting its own successful business model.

Dealing with Unsuccessful Product Expansions

Greg acknowledges that not all product expansions are successful. Possible steps toward handling these situations include:

• Recognizing cultural resistance and potential sabotage
• The need to let go of team members who aren’t aligned with the new direction
• Identifying when individuals are no longer a fit for the organization’s evolving needs

Greg emphasizes that these decisions, while difficult, are necessary for the long-term success of the company. He stresses the importance of putting the company’s needs first when making these tough choices.

Building Influence as a Product Manager

A significant portion of the discussion focuses on how product managers can build influence without formal authority. Greg introduces the concept of the “trust bank account” and identifies three key constituents whose trust product managers must earn:

1. Development team and VP
2. Sales team
3. Executive management

Constituent Trust-Building Strategy Development Team Demonstrate how your input will make their work more valuable and impactful Sales Team Show how the product will help them reach their financial and career goals Executive Management Prove that your decisions satisfy the needs of the business

Greg explains that building trust with these groups is essential for product managers to gain the influence needed to drive product success.

Practical Tips for Product Managers

Understanding Stakeholder Motivations

Tailor your approach to each group’s specific needs and goals. For example, developers are often more risk-averse and need to see how your input will make their work more valuable.

Selling to Salespeople

Recognize that salespeople have flexibility in what they sell and focus on making your product attractive to them. Greg emphasizes the importance of understanding the sales cycle and demonstrating how your product can help salespeople meet their financial goals.

The “Poison a Few” Strategy

Instead of trying to win over the entire sales force, focus on a few key individuals who can become champions for your product. Greg shares advice from a former colleague who suggested targeting specific salespeople in different regions to create early success stories.

Conclusion

The strategies and experiences shared by Greg Coticchia provide a roadmap for navigating the complex landscape of product portfolio management and business growth strategies. Successful product portfolio management is not just about creating new products; it’s about fostering a culture of innovation, building trust with key stakeholders, and continuously adapting to market changes. By applying these principles, product managers can drive their organizations towards sustainable growth and long-term success in today’s competitive business environment.

Useful links:

• Learn more about SE Heathcare
• Check out Greg’s page at CEO Coaching International

Innovation Quote

“Kill your cash cows rather than trying to milk them dry.” – Greg Coticchia

Application Questions

1. How can your organization create a culture that supports the development of new products while maintaining focus on existing successful offerings?
2. What strategies can you implement to build trust and influence with development teams, sales teams, and executive management in your current role?
3. How might you apply the “poison a few” strategy to gain support for a new product or initiative within your organization?
4. In what ways can you anticipate and prepare for potential cultural resistance when expanding your product portfolio?
5. How can you balance the need to evolve and innovate with the pressure to maintain and grow existing successful products?

Bio

Greg Coticchia is a seasoned, award-winning entrepreneur, CEO, business leader, professor, and author with over thirty years of experience in technology products and services. Currently, he serves as the CEO of SE Healthcare, a leading company in digital therapeutics focused on nurse burnout, and as a coach for CEO Coaching International.

Previously, Greg was the CEO and a Board Member of Sopheon (LON: SPE), a leader in enterprise innovation and product management software and services, where he successfully led the company to a private equity exit. He also established and launched Carnegie Mellon University’s Master’s Program in Product Management (MSPM), the world’s first product management degree, serving as its founding executive director.

Earlier in his career, Greg was a prolific entrepreneur, participating in fourteen startups (founding four) and holding executive roles in organizations ranging from startups to billion-dollar enterprises. He has raised over $73 million in venture capital and has been actively involved in more than seventeen mergers and acquisitions. Greg has held titles including CEO (six times), President, and COO, and has been responsible for the launch of over 100 products and solutions across various companies.

He has served on numerous boards, both profit and nonprofit. Greg holds a degree in Industrial Engineering and an MBA from the University of Pittsburgh, where he also teaches courses in B2B marketing at the Katz School of Business. He has certificates in Entrepreneurial Management from Carnegie Mellon University and Professional Coaching from Duquesne University. Greg was a three-time finalist for the Ernst and Young Entrepreneur of the Year Award and for the Tech 50 CEO of the Year. Additionally, he was named a Distinguished Graduate of the University of Pittsburgh’s Katz School of Business in 2006 and the Swanson School of Engineering in 2023. His book, Start Your Startup Right, is available on Amazon.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

What product managers need to know about the Targeted Innovation Process

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TLDR

The Targeted Innovation Process is a practical framework that helps product managers drive innovation in their organizations. This approach focuses on understanding customer needs, generating quality ideas, and turning those ideas into real value. The process has five main steps:

• Stating the problem
• Understanding problem-solving styles
• Creating creative pathways
• Generating ideas
• Evaluating ideas

Introduction

Innovation is key to product management. It’s what helps create products that customers love and keeps companies successful in the long run. As a product manager, knowing how to use effective innovation processes is crucial to stay competitive in today’s market.

In this episode, Jerry Fix and Terry Carroll explained the Targeted Innovation Process, a practical way for product managers to drive innovation in their companies. They described each step of the process, shared a real-world example, and discussed how to show the value of innovation programs in your company.

A Working Definition of Innovation

Filling the Idea Funnel

Think of innovation in product management as filling a funnel with high-quality ideas. This approach involves coming up with lots of concepts and gradually refining them through different stages of development. The goal is to have a strong innovation process that provides a steady stream of valuable ideas for product managers to work with.

Staying Close to Customers

A big part of successful innovation is keeping a close connection with customers. This involves:

• Understanding their challenges and needs
• Observing their work environments
• Gaining insights beyond what customers directly tell you

By staying close to customers, product managers can make sure their innovation efforts match real market demands.

Two Ways to Define Innovation

Jerry and Terry shared how they think about innovation:

Terry: Creating a better mousetrap: This means making meaningful improvements to existing products or creating new, viable solutions that add real value for customers.

Jerry: Turning ideas into value: Innovation isn’t just about coming up with ideas. It’s about turning those ideas into tangible benefits for customers and the company.

Understanding the Targeted Innovation Process

The Targeted Innovation Process is a practical approach to innovation that focuses on generating high-quality ideas and efficiently turning them into valuable products. This framework has five key steps:

Step Description 1. Stating the problem Clearly defining the challenge or opportunity 2. Understanding problem-solving styles Identifying appropriate approaches for your organization 3. Creating creative pathways Developing routes to connect ideas with innovation 4. Generating ideas Using various techniques to produce potential solutions 5. Evaluating ideas Assessing and selecting promising concepts for development

This process is designed to be more focused and practical than traditional open-ended innovation approaches. It encourages product managers to consider real-world constraints and their organization’s capabilities throughout the innovation journey.

A Closer Look at Each Step of the Targeted Innovation Process

Jerry and Terry explained each step of the Targeted Innovation Process in more detail:

Step 1: Stating the Problem

The first step in the process is to clearly articulate the problem or opportunity you’re addressing. This involves:

• Creating an open-ended problem statement
• Gathering input from various stakeholders
• Avoiding the temptation to jump straight to solutions

By taking the time to thoroughly understand and define the problem, you set a strong foundation for the rest of the innovation process.

Step 2: Understanding Problem-Solving Styles

Different problems require different approaches to solve them. In this step, you’ll:

• Identify the most appropriate problem-solving style for the challenge at hand
• Consider both incremental and breakthrough approaches
• Match the chosen style with your organization’s capabilities and culture

Understanding these styles helps ensure that your innovation efforts align with your organization’s strengths and the nature of the problem you’re addressing.

Step 3: Creating Creative Pathways

Creative pathways are routes that connect ideas with innovation. This step involves:

• Exploring different types of pathways (direct, supplemental, modification, tangential)
• Considering practical constraints such as time, budget, and acceptable risk
• Identifying the most promising routes for your specific situation

By creating these pathways, you establish a framework for guiding your ideation efforts in a focused and productive manner.

Step 4: Generating Ideas

With a clear problem statement, appropriate problem-solving style, and defined creative pathways, you can now focus on generating ideas. This step includes:

• Using various ideation techniques and tools
• Encouraging a high volume of ideas while maintaining quality
• Considering the chosen problem-solving style to guide ideation

The goal is to produce a diverse range of potential solutions that address the stated problem and align with your organization’s capabilities.

Step 5: Evaluating Ideas

The final step in the Targeted Innovation Process is to assess and select the most promising ideas for further development. This involves:

• Screening ideas against predefined criteria
• Combining multiple ideas to create stronger concepts
• Selecting the most viable ideas for prototyping and testing

By carefully evaluating ideas, you ensure that only the most promising concepts move forward in the product development process.

Real-world Example: Innovating a Floor Cleaning System

To show how the Targeted Innovation Process works in practice, Terry shared a real-world example involving the development of an innovative floor cleaning system.

Getting to Know the Customers

The product team started by doing extensive customer research, which included:

• Interviewing 30 different customers from various parts of the industry
• Conducting 90-minute one-on-one sessions with each customer
• Using discussion guides and video recording to capture insights
• Using competitive samples and 3D printed prototypes to help discussions

This thorough approach to customer research allowed the team to gain deep insights into user needs and pain points.

Key Findings and What Customers Valued

Through their research, the team identified several key things that customers valued in a new floor cleaning system:

1. Tool durability
2. Ease of use
3. Risk reduction (fewer slip and fall accidents)
4. Simpler cleaning process
5. Appearance

These findings guided the development of the new product, ensuring that it addressed the most important customer needs.

Testing and Improving Prototypes

Based on the initial research, the team developed prototypes for further testing:

• Created “soft tools” (made from aluminum instead of steel) for beta testing
• Gave prototypes to 12 customer locations for a 90-100 day trial period
• Visited each location weekly to observe and collect feedback from users

This step-by-step approach to prototype testing allowed the team to refine their product concept based on real-world usage and feedback.

Unexpected Discoveries and New Ideas

Through the Targeted Innovation Process, the team discovered several unexpected innovations:

• A universal holder system for easy replacement of parts that wear out
• Improved appearance for use in customer-facing areas, addressing a need they hadn’t anticipated
• Simplifying the cleaning process from three steps to two steps

These innovations show how powerful the Targeted Innovation Process can be in uncovering valuable product features that might not have been obvious at the start.

Making the Case for Innovation Programs

While innovation is crucial for long-term success, innovation programs are often among the first to be cut when companies need to reduce costs. To justify and protect innovation initiatives, product managers need to show their value using appropriate measurements.

Ways to Measure Innovation Success

Here are some key metrics to consider when justifying innovation programs:

1. Return on Ideas: Measure the value generated from implemented ideas compared to the resources invested in the innovation process.
2. Leading and Lagging Indicators:
   • Leading: Expected revenue from ideas in development
   • Lagging: Actual revenue generated from implemented innovations
3. Idea Quality Ratio: The number of ideas that make it into product development compared to the total number of ideas generated.
4. Vitality Index: The percentage of total sales that comes from new products (typically those launched within the past 3-5 years).

Why Innovation Matters for Future Success

Recent studies highlight how important innovation is for organizational success:

• According to a McKinsey study, 84% of executives say their future success depends on innovation.
• The top 10% of companies earn twice as much revenue from products and services that didn’t exist a year ago compared to their competitors.

These findings show why it’s important to maintain strong innovation programs, even during challenging economic times.

Conclusion

The Targeted Innovation Process provides a practical framework for product managers to drive innovation within their organizations. By following this approach, product managers can:

• Generate high-quality ideas that address real customer needs
• Turn those ideas into valuable products more efficiently
• Justify innovation programs using meaningful metrics

Useful links:

• Connect with Terry and Jerry on LinkedIn

Innovation Quotes

“The best way to predict the future is to invent it.” – Alan Kay

“The value of an idea lies in the using of it.” – Thomas Edison

Application Questions

1. How can we improve our current innovation process to better align with the five steps of the Targeted Innovation Process?
2. What methods can we use to stay closer to our customers and gain deeper insights into their needs and challenges?
3. How can we create a balance between incremental and breakthrough innovation approaches in our organization?
4. What metrics are we currently using to measure the success of our innovation efforts, and how can we improve them based on the suggestions in this article?
5. How can we better integrate prototype testing and customer feedback into our product development process?

Bio

Jerry Fix is an experienced Marketing and Product Management professional with Digital Transformation experience that has successfully launched new products and transformed teams in retail, distribution and OEM channels across a variety of markets. He has significant experience managing global organizations to develop and support products and brands, build communication strategies, and guide the commercialization of products and technologies. Jerry is also experienced in guiding teams through various digital transformations and agile processes. His areas of expertise include:

• P&L management
• Lean and Agile product development
• Strategic Marketing
• Account development and management
• Financial Analysis
• AI, IoT, Cloud analytics and UI/UX product development

Terry Carroll has been working in product management for the past 20+ years.  His background includes cross-functional experience in engineering, finance, pricing strategy, marketing and product leadership.  Terry has always been interested in understanding the interworking of business and how companies decide on what products/services to produce and market.  Working in product management has given him a front roll seat in being part of this process.  Terry has a bachelor’s degree in Finance and an MBA from Belmont University.

Terry has been fortunate to work on some really cool innovative product solutions during my career.  In the 2024 PMDA Innovation Conference in September, Jerry and Terry shared some excerpts from a new Product Management book they are working on and plan to publish in 2025.  The focus of their presentation was on practical innovation, and their book shares best practices in product management and is written from a practitioners’ point of view.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

Questions product managers ask me about how to improve innovation

Watch on YouTube

TLDR

Product managers are pivotal in driving innovation within organizations. Today I’m answering common questions I get asked about product innovation and management, including:

• Supply-side vs. demand-side innovation
• The Business Model Canvas
• Strategic planning
• Portfolio management
• Project selection criteria

I also discuss the importance of ongoing learning and professional growth for product managers. By mastering these areas, product managers can improve their skills, boost their influence, and contribute more effectively to their organization’s success.

Introduction: The Role of Product Managers in Innovation

As product managers, we’re at the forefront of innovation in our companies. We spot important ideas, uncover customer needs, turn concepts into products or features, and work to increase market share. But there’s more to innovation than just creating new products.

Innovation is the economic engine for organizations and a key source of new value. It’s about creating an innovation culture that drives growth and keeps companies competitive. In this article, we’ll explore key ideas and strategies to help you become a better product innovator and manager.

Supply-Side vs. Demand-Side Innovation: Finding the Right Mix

One of the basic concepts in product innovation is understanding the difference between supply-side and demand-side innovation. Let’s break down these approaches and look at their pros and cons.

Supply-Side Innovation:

• Creates new products or technologies based on the company’s expertise
• Often results in “new-to-world” products
• Usually needs a lot of R&D investment
• Can lead to big breakthroughs but carries higher risk

Demand-Side Innovation:

• Starts with customer needs and market research
• Aims to solve existing customer problems
• Generally carries lower risk as it addresses known market demands
• Can lead to improvements or new products that better serve customers

While both approaches have their good points, demand-side innovation often has less risk and can lead to quicker success. However, a balanced approach that includes elements of both can be ideal for many companies.

Examples of Supply-Side Innovation:

Product Company Outcome Post-it Notes 3M Accidental discovery of weak glue led to a widely used product Humulin Eli Lilly Synthetic insulin development that initially overshot market needs Electric Actuator Caterpillar Solution developed before a problem was identified, later found use in smaller excavators

These examples show that while supply-side innovation can lead to revolutionary products, it often takes time to find the right market fit.

The Business Model Canvas: A Tool for Product Innovation

The Business Model Canvas is a valuable tool for product managers involved in innovation. It gives a complete view of how a product or business creates, delivers, and captures value. Let’s explore the nine key elements of the Business Model Canvas:

1. Customer Segments: Define the specific groups of customers you aim to serve
2. Channels: Identify how you’ll reach and communicate with your customers
3. Customer Relationships: Determine the type of relationship you want to have with each customer segment
4. Value Proposition: Explain the unique value your product offers to solve customer problems
5. Key Partners: List the external partners crucial to your success
6. Key Activities: Outline the most important actions your company must take to operate successfully
7. Key Resources: Identify the most important assets required to make your business model work
8. Cost Structure: Describe all costs incurred to operate your business model
9. Revenue Streams: Detail how your company will make money from each customer segment

Using the Business Model Canvas in product management can help you:

• Align your product strategy with overall business goals
• Spot potential gaps or inconsistencies in your product plan
• Improve cross-functional teamwork and communication
• Refine your product concept based on a complete view of the business

Strategy in Product Innovation: Aligning with Company Goals

To be effective product innovators, we need to understand how our work fits into the broader company strategy. Let’s look at the strategy hierarchy and how it relates to product innovation:

1. Mission, Vision, and Values: The basic elements that define the company’s purpose and direction
2. Corporate Strategy: The overall plan for achieving competitive advantage and meeting company goals
3. Business Strategy: Specific strategies for individual business units or product lines
4. Innovation Strategy: The approach to creating new products, services, or processes that align with corporate and business strategies

As product managers, we mainly work at the innovation strategy level. However, it’s important to understand how our work supports and aligns with higher-level strategies.

The Miles and Snow Strategy Model offers another view on company approaches to innovation:

Strategy Type Description Innovation Approach Prospector First-to-market with new products or technologies High investment in R&D, focus on breakthrough innovations Analyzer (Fast Follower) Quickly adopts and improves upon successful innovations Strong market research, focus on customer insights and incremental improvements Defender Maintains market share in stable niches Focuses on efficiency and incremental improvements to existing products Reactor Responds only when forced by competitive pressures Limited proactive innovation, reactive improvements to maintain relevance

Understanding your company’s strategic approach can help you align your product innovation efforts more effectively.

Case Study: Apple as an Analyzer (Fast Follower)

While Apple is often seen as a highly innovative company, its success comes more from its role as an analyzer or fast follower. Apple excels at taking existing concepts and greatly improving them:

• Macintosh: Improved upon existing personal computer concepts with a user-friendly graphical interface
• iPod: Enhanced the MP3 player experience with sleek design and seamless music management (iTunes)
• iPhone: Revolutionized the smartphone market by refining and integrating existing technologies

This approach allows Apple to learn from others’ mistakes, focus on user experience, and bring highly polished products to market.

Portfolio Management: Balancing Innovation Investments

Effective portfolio management is crucial for companies to allocate resources efficiently and maximize the value of their innovation efforts. Here are some methods for structuring innovation portfolios:

1. Strategic Buckets: Allocate resources to different categories of projects
2. Three Horizons Approach: Balance investments across core, adjacent, and transformative innovations
3. Business Unit Organization: Align innovation efforts with specific business unit objectives

Example of Strategic Buckets Allocation:

Project Type Resource Allocation Breakthrough Projects 10% Platform Development 10% Derivative Products 20% Support and Incremental Improvement 60%

This allocation ensures a balance between maintaining current products and investing in future growth opportunities.

Project Selection Criteria for Innovation

Choosing the right projects for your innovation portfolio is critical. Here are key criteria to consider:

• Strategic fit with company objectives
• Sales potential and market size
• Competitive landscape
• User experience and customer value
• Technical feasibility and complexity
• Financial metrics (e.g., ROI, NPV)
• Resource requirements
• Risk assessment

Various methods can help in project selection, such as the Analytical Hierarchy Approach or the Selenese Factors model, which considers:

1. Strategic fit
2. Strategic leverage
3. Technical feasibility
4. Market desirability
5. Reward to the company

By using a structured approach to project selection, you can ensure that your innovation efforts align with company goals and have the highest potential for success.

Continuous Learning and Professional Development for Product Managers

To stay at the forefront of product innovation and management, it’s essential to engage in ongoing learning and professional development. The Product Development and Management Association (PDMA) offers valuable resources and certification programs for product managers.

The Rapid Product Master Experience (RPM) is a comprehensive training program that covers seven research-backed knowledge areas for product mastery:

1. Strategy and portfolio management
2. Market research and customer insights
3. Innovation and new product development processes
4. Product lifecycle management
5. Product design and development tools
6. Launch and commercialization
7. Product management and leadership

By investing in your professional development and staying current with industry best practices, you can enhance your skills, increase your influence within your organization, and drive more successful product innovations.

Developing an Innovation Culture

Creating a culture of innovation within your organization is crucial for long-term success. Here are some strategies to foster innovation:

• Encourage risk-taking and learning from failures
• Promote cross-functional collaboration
• Provide time and resources for experimentation
• Recognize and reward innovative ideas and efforts
• Create channels for employees to share and discuss new ideas

By cultivating an environment that values and supports innovation, you can tap into the creative potential of your entire organization.

Measuring Innovation Success

To ensure your innovation efforts are on track, it’s important to establish and track key performance indicators (KPIs). Some relevant metrics for product innovation include:

• Percentage of revenue from new products
• Time to market for new products
• Customer adoption and satisfaction rates
• Return on investment (ROI) for innovation projects
• Number of patents filed or granted
• Employee engagement in innovation activities

Regularly reviewing these metrics can help you adjust your innovation strategy and improve outcomes over time.

Conclusion

As product managers, we play a vital role in driving innovation and creating value for our companies and customers. By understanding key concepts like supply-side vs. demand-side innovation, using tools like the Business Model Canvas, aligning with company strategy, and implementing effective portfolio management, we can significantly improve our product innovation outcomes.

Remember, the path to successful product innovation is not always straightforward. As the Cheshire Cat in Alice in Wonderland said, “If you don’t know where you’re going, any road will take you there.” By continually improving our skills, staying informed about industry trends, and applying best practices in product management, we can chart a clear course towards creating products that truly resonate with customers and drive company success.

Innovation Quote

“If you don’t know where you’re going, any road will take you there.” – the Cheshire Cat, from Alice’s Adventures in Wonderland by Lewis Carroll

Application Questions

1. How does your company currently balance supply-side and demand-side innovation? Are there opportunities to adjust this balance to improve innovation outcomes?
2. In what ways can you use the Business Model Canvas to enhance your current product development process? Are there any elements of the canvas that you typically overlook?
3. How well does your product innovation strategy align with your company’s overall strategy? What steps can you take to improve this alignment?
4. Evaluate your company’s approach to portfolio management. Are you effectively balancing investments across different types of innovation projects? How might you improve resource allocation?
5. What criteria does your company use for project selection in innovation? Are there any important factors missing from your current evaluation process?

Bio

Chad McAllister, PhD, is a product management professor, practitioner, trainer, and host of the Product Mastery Now podcast. He has 30+ years of professional experience in product and leadership roles across large and small organizations and dynamic startups, and now devotes his time to teaching and helping others improve. He co-authored “Product Development and Management Body of Knowledge: A Guide Book for Product Innovation Training and Certification.” The book distills five decades of industry research and current practice into actionable wisdom, empowering product professionals to innovate and excel. Chad also teaches the next generation of product leaders through advanced graduate courses at institutions including Boston University and Colorado State University and notably re-engineered the Innovation MBA program at the University of Fredericton, significantly broadening its impact. Further, he provides online training for product managers and leaders to prepare for their next career step — see https://productmasterynow.com/.

Thanks!

Thank you for taking the journey to product mastery and learning with me from the successes and failures of product innovators, managers, and developers. If you enjoyed the discussion, help out a fellow product manager by sharing it using the social media buttons you see below.

Why market research is product managers’ secret ingredient for successful products Watch on YouTube TLDR Market research is a key part of product development and management. In this episode, Chip Chonym explains why market research matters throughout the innovation process, discussing both qualitative and quantitative methods. He covers the “double diamond” approach, how to talk […]