Product lifecycle is short: build products that matter
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Moriya Kassis discusses the product lifecycle, emphasizing the importance of product management in transforming market opportunities into viable products. It covers the relationship between product management and engineering, highlighting the need for a good understanding of customer needs and competitive environments for product success. Kassis also outlines the stages of product development and the significance of effective design processes in achieving high-quality outcomes.
Product lifecycle is short: build products that matter
- 1. Product Lifecycle Is Short: Build (smart) Products That Matter
- 2. I am Moriya Kassis I am a Product Management consultant and a Venture Associate. I am the Head Organizer of ProductTank Tel Aviv. I basicly seat in both sides of the table. You can find me at [email protected] Hello!
- 3. Our agenda for today: ◉Let’s talk about products ◉What is Product Management and what is it good for ◉The relationship between Product Management and Engineering ◉How do GOOD PRODUCTS come to the world Feel free to ask Qs. This is bullshit-free zone.
- 4. Let’s talk about products What, how and most importantly: why 1
- 5. “ A product is the transformation of a market opportunity into something people are willing to pay for
- 6. Smart, connected products have three primary components; Physical component, Smart component, and connectivity
- 7. The top required factors for the success of a new product are a good understanding of: competitive environment customer needs and wants nature of the market
- 8. So you want to create a smart product. Great. Now what? We build products in the era of products, when a product is more than its tech and a smart product has to deliver some real value to its users. Are you up for the challenge?
- 9. You have to make every single detail perfect and you have to limit the number of details Good Amazon Echo Dot Bad WeMo Mr. Coffee
- 10. Working on the right problem and solution is more important than working hard Good Pella Insynctive Bad Hi WiFi home-security
- 11. Think like a customer Good Fisher-Price Smart Connect 2-in-1 Bad Cisco Umi “There is just one problem. No one wants to pay a whopping $600 for a one-trick-pony set-top box, never mind the dumb $25 monthly fee. With free services like Skype and FaceTime already available for our phones, tablets and laptops, Umi is destined for the gadget scrap heap.” “a device that includes a mobile and a projector, plus a slew of extra features to sweeten the deal -- all for the surprisingly affordable $70. It certainly isn't a must-buy product, but for most parents, the Fisher-Price Smart Connect 2-in-1 Projection Mobile offers a solid long-term investment.”
- 12. A user interface is just like a joke. If you have to explain it, it’s not good enough Good Belkin WeMo Switch Bad Digitsole SmartShoe 01
- 13. Make something people want Good Witricity Bad Belkin Smart Slow Cooker
- 14. What is Product Management and what is it good for 2
- 15. Product Management is an organizational lifecycle function within a company dealing with the planning, forecasting, and production, or marketing of a product or products at all stages of the product lifecycle. It integrates people, data, processes and business systems.
- 16. If I need you to end this day with one thing in your mind, it will be the following : Talk to the customer; Nurture a project culture; Keep it focused
- 17. The relationship between Product Management and Engineering Design 3
- 18. Engineering Design is the process whereby a technical solution is developed iteratively to solve a given problem
- 19. 70-80% of the final product quality Previous research shows that And 70% of the product entire life-cycle cost are determined in the product design phase therefore the design-manufacturing interface represent the greatest opportunity for cost reduction.
- 20. How do GOOD PRODUCTS come to this world 4
- 21. The 3 musketeers: Incremental, platform and breakthrough products Breakthrough products are new to the company or new to the world Incremental products are considered to be cost reductions or, improvements to existing product lines Platform products establish a basic architecture for a next generation product or process
- 22. Our process is (not) easy: Understand and observe the market, the client, the technology and the problem Visualise new customers using the product Synthesize the information collected at the first step Prototype, evaluate and improve the concept
- 23. Our process is (not) easy: This is why we need the gates. The gates are: Opportunity screening Idea evaluation Go/No-Go for development
- 24. Studio time: Let’s use some of Keter’s products as use opportunities to learn from: 1. Choose a product you worked on in the last year or two 2. Go over the mentioned process and analyze the process: What was the need? How could we make the process better? 3. Get ready to present it in front of our amazing audience
- 27. Any questions ? You can find me at [email protected] Thanks!