Perform an objective analysis of a potential market Business Business opportunity to provide a basis for investment. Plan Articulate what you learned in the market and quantify Formalize your the risk, including a financial model. product plans to deliver profitable solutions for market Establish a pricing model, schedules, guidelines and Pricing problems. procedures. Determine the most effective way to deliver a complete solution to an identified market problem. Where you Buy, Build have gaps in your offering, analyze whether to buy, or Partner build, or partner to complete the solution for your market. Monitor and analyze key performance indicators to Product determine how well the product is performing in the Profitability market, how it impacts the company operations, and ultimately, how it contributes to profit. Focus your teams' creative spirit on solving market Innovation problems by leveraging your organization's distinctive competencies. Describe the product by its ability to solve market Planning problems. Create internal positioning documents that Positioning will be used to develop external messages focused on Connect your each key buyer or persona. business plans with the organizations that develop, Research and document the buying process your target promote and deliver Buying personas use to select a product. Understand the solutions to the Process barriers that buyers encounter during their selection market. process. Buyer Define the archetypical buyers involved in the Personas purchasing process of your products and services. User Define the archetypical users of your products and Personas services. Articulate and prioritize personas and their problems so Requirements that the appropriate products can be built. Illustrate market problems in a that puts the “story” Use problem in context. Use scenarios are one component Scenarios of requirements. Status Monitor key dates and checkpoints in product delivery. Dashboard
Business Formalize your product plans to deliver profitable solutions for market problems. Business Plan Perform an objective analysis of a potential market opportunity to provide a basis for investment. Articulate what you learned in the market and quantify the risk, including a financial model. Pricing Establish a pricing model, schedules, guidelines and procedures. Buy, Build or Partner Determine the most effective way to deliver a complete solution to an identified market problem. Where you have gaps in your offering, analyze whether to buy, build, or partner to complete the solution for your market. Product Profitability Monitor and analyze key performance indicators to determine how well the product is performing in the market, how it impacts the company operations, and ultimately, how it contributes to profit. Innovation Focus your teams' creative spirit on solving market problems by leveraging your organization's distinctive competencies. Planning Connect your business plans with the organizations that develop, promote and deliver solutions to the market. Positioning Describe the product by its ability to solve market problems. Create internal positioning documents that will be used to develop external messages focused on each key buyer or persona. Buying Process Research and document the buying process your target personas use to select a product. Understand the barriers that buyers encounter during their selection process. Buyer Personas Define the archetypical buyers involved in the purchasing process of your products and services. User Personas Define the archetypical users of your products and services. Requirements Articulate and prioritize personas and their problems so that the appropriate products can be built. Use Scenarios Illustrate market problems in a “story” that puts the problem in context. Use scenarios are one component of requirements. Status Dashboard Monitor key dates and checkpoints in product delivery.