Bain Public

Showing all posts tagged "Product Market Fit" ...

Market Sensing: How to Stay Successful in Today’s Unpredictable Market

As today’s uncertain market rapidly changes, remaining successful requires a more entrepreneurial product-orientation. Faced with breakneck business and product growth, roadmap decisions need to be non-bureaucratic, yet remain collaborative at the same time. During these changing times, knowledge creation is essential. It’s now more important than ever to scan the external environment for signals, look across the market for unmet customer needs, identify significant opportunities about to unfold as well as seize them, integrate them and make use of them commercially. You have products tha...

Any company + product manager ≠ a product company.

The day-to-day role of a product manager is constantly changing and becoming more strategic. Many product managers are still trying to escape the trap of getting projects handed to them by the C-Suite and being told to simply ‘build something’ or ‘make it better.’ This isn’t exactly much to go on. Where’s the vision? Where’s the communication? Where’s the direction? Roadmapping is one of the keys to gaining product focus. It’s shocking to see that 57% of product managers say they don’t spend enough time on roadmapping and goal-setting. Without objectives, and the proper planning and researc...

The Top 6 Roles to Describe a Product Manager

The role of a product manager could never fit into a box. It’s difficult to define. There’s no set or standard job description. So what exactly does a product manager do? And why should companies care about investing in them? The best product managers think strategically and make difficult trade-offs quickly. They use unconventional ways to spread the vision and have the ability to keep cool under pressure with tight deadlines. They prioritize conflicts and manage revenue targets, resource constraints, and market demands. You would almost think product managers have super powers if they ca...

Product vs Sales: How to Collaboratively Reach your B2B Product-Market Fit.

In a B2B environment, the sales team often interfaces with buyers. Existing clients, as well as sales prospects, become influencers on the product roadmap. Salespeople listen to those unwilling to buy a product unless specific features get added. Prospects don’t always tell the whole truth and customers aren’t always honest about what they need. When sales return with this type of feedback, they set about managing the product. So how does a product manager manage that friction? We decided to sit down with Robert Roseberry, Founder, Revenue Growth Expert and Sales Coach at Sales Achievemen...

Identifying Market Opportunities: Here’s How You Can Create, Measure and Monetize Customer Value

Creating value is an essential starting point and a fundamental concept for all businesses and their objectives. It’s as simple as this: a business must create value and deliver it in an efficient way so that it will generate profit after cost. But how exactly do you create, measure and monetize this value? Finding market opportunities, choosing a revenue model and delivering value to customers are all fundamental steps to reaching your product goals. Steps to Creating, Measuring and Monetizing Customer Value 1. Find Market Opportunities To begin, it is important to find a market opportunit...

The case for rotating through products

The market changes. Trends in the marketplace affect the appeal of your message and the profitability of your product. Winning products thrive on big thinkers with the expertise to solve common challenges. Should a company hire a product manager with years of experience in, and knowledge of, the industry? How about a product manager who can quickly master a market and domain. One with generic, transferable product management capabilities. One who engaged with not just new technologies but also new business models. Who evolved in tandem with the types of products, customers, and markets th...

Product opportunity, It’s all about timing

Product management is empirical, verifiable by observation, experience, and practice. I’m amazed at how calculated and theoretical some make it be. Put yourself into the right critical thinking mindset, do some customer research, think through your market and validate if there is a product opportunity. In a great market, your product doesn’t need to be the best; it just has to basically work. In a terrible market, you can have the best product in the world and it won’t matter . If there’s no customer need, everything else falls apart . Move on! Find another market. Just another day in V...