The opinions expressed by the bloggers below and those providing comments are theirs alone, and do not necessarily reflect the opinions of Ryma Technology Solutions. As they say, you can't innovate without breaking a few eggs...
Are you a member of the product management team or innovation group? Are you a product manager, or an innovation controller? What is the difference between innovation and product management? I think the problem resides in the definition of these two concepts; product management and innovation.
So let's grab the Oxford Dictionary and take a look. It tells us that innovation is "The action of innovating; introducing a new product into the market; a product newly brought on to the market. To chang...
I know that when you wake up in the morning, the first thing on your mind is how you can improve your organization's competitive advantage? What set of new features can I add? There are two things that cause competitive advantage, product differentiation and/or improved cost-position. Let's take a look.
Product differentiation is more about perceived value and cost than it is about being different. You can be different all you want, but if the client doesn't value the capability your being diff...
Now that we've pointed out some background on the problem statement in Part One, and addressed controlling levels on innovation in Part Two, we're ready to look at some Blue Ocean examples.
Products or services that have different forms but offer the same functionality or core utility are often substitutes for each other. Take the example of Intuit’s Quicken. To sort out their personal finances, people can buy and install a financial software package, hire a CPA, or simply use pencil an...
Competitive advantage is at the heart of every product initiative. It surprises me how many Product Manager teams still can't trace their daily activities back to the increase of competitive advantage. In 2009, almost every product manager in the world had to find a way to justify their existence. Even today, there are some who cannot. So let's walk through this together.
The goal of product management is to increase your competitive advantage through product initiatives. We do this in tw...
It's a portfolio management problem! Out of all the factors involving pricing, what factors should the product management team focus on? Yep, we should select the factors that will have the most impact to us, to our organization, our customers, potential customers, and our competitors. The book is titled "Impact Pricing: Your Blueprint for Driving Profits", by Mark Stiving. I believe it's a must read for all Product Management team members this year.
The book makes a foundational case for...
Thanks Tom. I was surprised by the lack of Product Management literature available connecting Product Management to innovation. I
