Symptoms of Product Management Gaps
Here are some common problems that Product Management best practices could address.
Low Margins & ROI
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Building cool things customers will not pay for
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Investments cover a 'little bit of everything'
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ROI decisions made within 'product line silos'
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Weak business cases to support priorities
Weak Product Roadmap
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Not strategic, no data, loudest voice wins
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'Treading water' with customer requests
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No objective way to evaluate & prioritize roadmap requests
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Custom development commitments dominate roadmap
Pricing Not Value-Based
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More functionality, pricing unchanged
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Sales objections handled with discount, not value
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One-size fits all, regardless of segments' willingness to pay
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Assume price structure is correct, but nobody knows why
Not Market-Driven
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Value tied to features, not problems solved
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Product managers seldom talk to customers
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Inconsistent marketing messages, with no clear differentiation
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Sales targets whoever they can find, without clear strategy
Poor Cross-Functional Coordination
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Chaotic product launches
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Unclear accountability
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Frequent & unplanned product delays
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Lack of cross-functional participation in full lifecycle
Tactical Product Management
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Short-term tactical view, not strategic with GM mindset
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Mostly fighting fires, trying to do what everybody wants
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Internally focused, weak understanding customers & market
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Each function has a different understanding of PM's role