market insight why and how
DESCRIPTION
Presentation slides that covered the answers of the Market Insight quizTRANSCRIPT
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Market Insight – Why and How
Quiz and presentation
Harri Pendolin, Prodman
Product Tank Meetup
27th of November 2014, Helsinki
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#1 reason why new product ideas fail
Roadmap - Why and How 2014
We don’t understand market needs!
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Roadmap - Why and How 2014
CHALLENGE: What do YOU know
about market insights? Are you ready
for a quiz?
Please, take your smart device, open a browser and
go to kahoot.it. Enter game pin and your nick
name.
The quiz can be found here: https://create.kahoot.it/#quiz/3332259a-3292-4343-8592-6bec1402e46a
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1. Customer insight is knowing the needs and
problems your customers have
Sales meeting
Customer advisory boards
Product statistics
Feedback from customer support
…
2014Roadmap - Why and How
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2. Customer insight is also competitive
intelligence
Roadmap - Why and How 2014
Positioning
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3&4. Customer insight is understanding
market trends and technology insight
Roadmap - Why and How 2014
Current market
The next wave
Time
Money
Every market and product has it’s finite life-cycle!
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1. For new product ideas the best way to gain
market insight is NOT to ask your customers
Roadmap - Why and How 2014
The Challenge with new product ideas
- Customers don’t know what they will
need!!
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2. For new product ideas the best way to gain
market insight is NOT to use agile development
methodologies
Roadmap - Why and How 2014
Being agile is good for REACTING to
market insight, not to GAIN it
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3. For new product ideas the best way to gain
market insight is NOT to use online surveys
Roadmap - Why and How 2014
In most of the cases surveys are made
to reinforce our OWN assumptions.
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4. For new product ideas the best way to gain
market insight is to use Build-Measure-Learn loop
Roadmap - Why and How 2014
Ideas
Build
Product
Measure
Data
Learn
Market Insight
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Pretotypes and MVP’s
Roadmap - Why and How 2014
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Three horizons planning framework
Roadmap - Why and How 2014
Horizon 1
Horizon 2
Horizon 3Current products
Strategic themes or
focus areas for new
products
Vision
Time
Money
Three horizons - three different needs for market insight!
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Gain market insight for horizon 1
Roadmap - Why and How 2014
Listen to your
customers!
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Gain market insight for horizon 2
Roadmap - Why and How 2014
Test your
assumptions!
Picture by Mikko Jäppinen, Palmu Inc.
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Gain market insight for horizon 3
Roadmap - Why and How 2014
Find the right
problems!
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“If you don't know where you are
going, any road will get you there.”
Lewis Carroll, writer of Alice in Wonderland
2014Roadmap - Why and How
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1. Roadmap is NOT a commitment to your
customers
Roadmap - Why and How 2014
Disclaimer:
This document (“Roadmap”) contains
forward-looking statements based on
current expectations, forecasts and
assumptions of the Company that
involve risks and uncertainties.
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2. Roadmap can be used to gain market
insight
Roadmap - Why and How 2014
Yes, but be careful with it!
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3. Roadmap shall visualize your product
vision
Roadmap - Why and How 2014
“An artefact that communicates
the direction you’ll be going in
order to fulfill the product
vision.”
Janna Bastow, Co-Founder, ProdPad
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4. Roadmap contents shall NOT come only
from product manager
Roadmap - Why and How 2014
Roadmaping and gaining market insight is teamwork
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Roadmap - Why and How 2014
And the winner is…
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2014Roadmap - Why and How
Competences, processes and tools.
Winning product management.
Success stories.