Product Management Workshop

This hands-on workshop covers “best practices” in product management to improve your efficiency and effectiveness as a product manager. It covers the typical roles and responsibilities of product management as well as key organizational interfaces. The workshop is highly interactive and includes numerous exercises that reinforce the key points. The workshop can be structured as a three-day workshop or as a five-day product manager certification workshop that includes the exam to become a “Certified Product Manager®” through AIPMM.  The workshop covers:

1. The Product Lifecycle and Product Management

  • Introduction to Product Lifecycle Management
  • An overview of the product lifecycle
  • Typical roles and responsibilities of product management
  • Key organisational interfaces
  • Action Learning Exercise: Your Job Description

2. Understanding Goods and Services

  • Definition of a “product”
  • The different levels of a product that exist from the customers’ perspective
  • Objective and subjective benefits
  • How the levels of a product and core benefits impact product design
  • Different types of products and the implications for the marketing mix
  • Action Learning Exercise: Defining A Product

3. Key Product Decisions

  • Product attributes
  • Packaging and labeling
  • Support services
  • Ensuring delivery on the brand promise
  • Action Learning Exercise: The Alignment Between Brand Promise and Product Delivery

4. Product Line and Product Mix

  • The product line and product line extensions
  • Product line decisions
  • The overall product mix
  • Implications for the product manager

5. Market Segmentation

  • What it is and why it is important
  • The four dimensions of segmentation
  • Choosing your target markets
  • Action Learning Exercise: Market Segmentation

6. Conducting Market Research

  • Identifying the underlying problem/opportunity
  • Conducting voice of the customer (VOC) or consumer insights research
  • Common market research tools: the pros and cons, and when to use each
  • Importance of understanding the “why” behind the “what”
  • How to conduct in-depth interviews to identify customer needs
  • Action Learning Exercise: Researching an Issue in the Marketplace

7. Product Positioning

  • The four key elements of product positioning
  • How and when to position your product
  • Importance of market segmentation in determining your product positioning
  • Warning signs that positioning needs revising
  • Action Learning Exercise: Positioning a Product

8. Strategic Planning and Portfolio Management

  • Determining a good mission statement
  • Portfolio management overview
  • The BCG growth matrix

9. New Product Development

  • The phases of new product development – Ideation through launch
  • Key objectives and activities for each phase
  • The role of product management

10. Acquisition

  • Examine acquisition as an alternative to internal development
  • The different methods of acquiring product ownership
  • The risk/reward trade-offs
  • The role of product management
  • Action Learning Exercise: The Role of Acquisitions

11. The Phase-Gate Process

  • Overview
  • Phases and Gates
  • Advantages
  • Disadvantages and problems when applied improperly
  • Preventing gate reviews from slowing time-to-market

11. New Product Screening

  • The importance of careful screening
  • The traditional 2½ step screening process
  • The role of the product scorecard
  • Tips on managing the screening process
  • Action Learning Exercise: The New Product Development Process

12. Preparing for Product Launch

  • Overall activities associated with the product launch
  • Identifying the key stakeholders
  • Internal and external launch preparedness
  • Action Learning Exercise: The Launch

13. The Value Chain and Business Ecosystem

  • Value creation
  • Key components of the value chain
  • The supply chain
  • The extended value delivery network (business ecosystem)
  • Designing and managing the value chain
  • Action Learning Exercise: The Extended Value Delivery Network

14. Pricing

  • Pricing best practices
  • The three pricing methodologies
  • Pricing considerations
  • Setting the pricing for new products
  • Action Learning Exercise: Setting Pricing

15. Product Manager’s Toolkit – Review of Common Tools and Frameworks Including:

  • Porter’s Competitive Forces Model
  • The Ansoff Product/Market Expansion Grid Review

(Optional) 16. Product Manager Certification Exam

  • Review the material before the exam
  • Questions
  • As time allows, a closer look at topics of particular interest
  • Certification exam leading to Certified Product Manager® designation through AIPMM

AIPMM Certification Exam

The certification exam is designed to test general business knowledge, including topics that will not be covered on the course. Candidates with an education in business and several years of experience generally score higher on the exam than those with minimal experience, but the course and exam have been proven to be a useful introduction for those with as little as several months of experience in the function.

The exam is usually completed in three hours, but four hours are allowed to ensure adequate time to finish. It will require several weeks to grade, after which you will be informed whether you have passed or failed.

For further information, contact Kenneth Crow at DRM Associates
Phone +1 310-377-5569