Market insight why and how

Market Insight – Why and How

Quiz and presentation

Harri Pendolin, Prodman

Product Tank Meetup

27th of November 2014, Helsinki

#1 reason why new product ideas fail

Roadmap - Why and How 2014

We don’t understand market needs!

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

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

2. Customer insight is also competitive

intelligence

Roadmap - Why and How 2014

Positioning

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!

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!!

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

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.

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

Pretotypes and MVP’s

Roadmap - Why and How 2014

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!

Gain market insight for horizon 1

Roadmap - Why and How 2014

Listen to your

customers!

Gain market insight for horizon 2

Roadmap - Why and How 2014

Test your

assumptions!

Picture by Mikko Jäppinen, Palmu Inc.

Gain market insight for horizon 3

Roadmap - Why and How 2014

Find the right

problems!

“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

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.

2. Roadmap can be used to gain market

insight

Roadmap - Why and How 2014

Yes, but be careful with it!

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

4. Roadmap contents shall NOT come only

from product manager

Roadmap - Why and How 2014

Roadmaping and gaining market insight is teamwork

Roadmap - Why and How 2014

And the winner is…

2014Roadmap - Why and How

Kiitos!

Thank You!

Harri Pendolin

harri.pendolin@prodman.fi

www.prodman.fi

2014Roadmap - Why and How

Competences, processes and tools.

Winning product management.

Success stories.