4 Sep, 2010
Action plan gap analysis MRD PRD problem statement Product Launch product manager
To come out with a solution one has to be equipped with a crystal clear problem statement document . My experience in QA/Testing role taught me how to describe a bug clearly in other words how to reproduce the bug. QA person use the product as a end user and can clearly point out the problem in the product. This experience really helped in product management work while defining the problem statement, gaps, pain points in the market.
Well written problem statements help product managers communicate both the difficulty faced in the market and the potential reward for solving the problems. If you stop and think about it you’ll see that problems are actually opportunities. New features, new products and even new industries spring up from people who see problems and find ways to solve them.
The key to successfully solving problems is understanding them. The following steps will help you express problems clearly and help you identify solutions:
- Define the problem: Understand the nature of the problem and articulate it clearly so you understand its effects on the people you are trying to help.
- Produce ideas: Make a list of things you can do right away to solve the problem. Be aggressive in finding the right solution.
- Test the ideas: Discuss the best ideas with your team and test them with customers. Find out which ones resonate.
- Choose among ideas: Choose the idea that will best solve the problem.
- Plan for action: Write a plan to solve the problem. This plan will most often come in the form of clear product requirements that will guide the development, QA, marketing and other teams to successfully implement a product (or new product features) that solves the problem.
Well-written problem statements are an important communication tool for product managers.
-Hitesh, vcBytes.com
5 Aug, 2010
marketing launch PR campaigns Product Launch Startups Taggle
Most of the startups i came across recently are confused about the product launch and marketing launch, They assume product launch and marketing launch is one and the same.
In simple words product launch is making your product available to the customers in the public, no alpha/beta customers while marketing launch is announcing a product, start the PR activities and kick off marketing activities.
Company adopt the launch strategy which suits their business and fits well in their business plan. For example Taggle internet ventures started off with PR campaigns and marketing activities before launching the product. Their objective was to build the sales pipeline before launching the product.
When to go for marketing launch
A marketing launch establishes startup positioning. If you are confused or don’t know what the right positioning is for your startup, do not launch. When you launch with the wrong positioning, you have to spend extra effort and money later cleaning it up
Startups have to know their business model. Most startups launch before they figured out what business they are in. Always pay attention to your fundamental driver of growth. If the product needs to be tweaked for better conversion rate, do it before the launch.
Startup should know what the success metrics are for the launch. If you are confident on your strategy you will definitely know the success metrics.
-Hitesh, vcBytes.com
21 Mar, 2010
Full Scale Launch Minimal Launch Product Launch Soft Launch
This week i will focus on “Product Launch” and every facets of it.
Your product is nearing completion, beta testing is wrapping up, the product is looking in good shape and its time to turn attention towards bringing the product to market and making the best possible impression.
A well executed launch can mean the difference between success and failure for your product. If you do it in right it can give you substantial initial revenue momentum and set up your product up to beat its competitors.
Types of Launches –
- Soft Launch
- Minimal Launch
- Full Scale Launch
Soft Launch – Companies adopt this launch of their product isn’t fully ready yet and they want to deploy to a limited set of customers. Startups often do this because of lack of finance and marketing resources. Additionally this kind of launch provides company to reach customers hands quickly to get some quick feedback and iterate the product.
The demerit of soft launch is that more often they generate little or no revenue since it doesn’t have the momentum of a big push.
Minimal Launch – Minimal launch is generally considered when your resources and funding are limited. Generally products which adopt minimal launch process aren’t important for company strategy and overall success. Companies sometimes do fail to plan early enough and then have to scramble and do a minimal launch because they ran out of time.
Minimal launches can be very effective if you use resources wisely and it may provide revenues necessary to expand their marketing campaigns on an ongoing basis.
Full Scale Launch – A full scale launch is designed to maximize awareness, generate as many leads and sales as possible and let people/industry know about your company and product. Full Scale is characterized by big push and backing by marketing team. A full scale launch gives your product the best chance of success, though most companies are afraid to spend the money on this kind of launch.
-Hitesh, vcBytes.com
