Product Management is all about maximising revenue from the creativity of technical or development teams. In my experience, developers and designers of software and hardware are very creative, but they are only part of the productisation process. A new product or service touches every function within an organisation; the technical staff as well as finance, HR, sales, legal.... If any one of these teams isn't included in the design and development of or a product or service, the end user experience will be poor.
There's nothing worse than a customer asking a service agent for information about your new red widgets, and for the service agent to say "I didn't know we did red widgets"...
It is the role of the product manager to steer, guide and collaboratively manage the embryonic product or service through your organisation to launch, so that the product or service is complete and there are no nasty surprises once the product or service has been launched.
There are no guarantees of success, but with this approach you've stacked the odds in your favour.
Service and product definition documents
One of the hardest areas to manage is “feature creep”... those brilliant ideas that go into a product but which are not planned or documented, and therefore cannot be monetised.
Unlike a product, a service is an intangible good where the benefits are consumed at least in part simultaneously with the production of the good. This nuance adds an extra dimension to the product management of services; after all how do you manage something that doesn’t physically exist?
It is essential to clearly define is a Service or Product Definition Document what a product or service is, the dimensions, the maxima and minima, the input and outputs, so that the creativity of your developers can be recognised and turned into revenue.
The full Service Wrap
Even if you are a manufacturer of products, you can't ignore services. And there are many different kinds of services, all of which can augment your core product and help drive incremental revenue as well as provide that all important sustainable differentiation that you need. The same applies to services providers themselves: your core "Unified Communications" service for example can be enhanced by considering the full service lifecycle.
I can help you design, develop and deliver a comprehensive service portfolio for your products or core services which provides your customers with a better end-to-end lifecycle experience and which adds significant incremental revenue to your pipeline.
Call me on +44 7866 673365 or drop me an email firstname.lastname@example.org to discuss how.