Strategic Product Market Fit
About This Course
Product management binds many functions that touch a product - engineering, design, customer success, sales, marketing, operations, finance, legal, and more.
Product Managers are increasingly becoming the �mini-CEO� of their product. They own the decisions about what to build but also influence every aspect of how to build and launch. They must have a broad knowledge base to in-order to make trade-off decisions, bring together cross-functional teams while ensuring alignment between diverse functions within the organisation.
As more companies outside of the technology sector set out to build software capabilities for success in the digital era, it is critical that they get the product-management role right.
Product managers are crucial to digital business success, orchestrating stakeholders and teams to deliver better product and financial outcomes. Organisations must understand this challenging role in order to help find the right people for the job.
This course will help participants to develop a strategy to achieve product market fit using a realistic case study. It provides knowledge and skillsets for product managers and practitioners to equip themselves with advanced insights, practices and techniques to evolve their products and services and achieve the product market fit.
This course is part of the Digital Products & Platforms Series offered by NUS-ISS.
What You'll Learn
The course will focus on qualitative and quantitative aspects of product market fit. Participants will learn how to adopt a strategic customer-centric model to create and sustain value for customers and achieve market growth. This course will cover key techniques on how to leverage customer and market segmentation, product iteration, omni-channel experience, and data-driven decision making to achieve product market fit.
Reinforcement of the learning outcomes will accomplished through workshops to allow participants to practice the various techniques taught in class. All workshops will form part of the overall assessment.
Customer Voice
�Concept and definition of the Customer Voice.
�Key factors that facilitate listening to the Customer Voice.
�Insights on how to leverage the use of data-driven decision making.
�Measures and indicators for product market fit using the Customer Voice.
�The techniques will include the following:
1. Cost-Benefits Analysis
2. Kano Modelling
3. Customer and Market Segmentation
Customer Engagement
�Concept and definition of Customer Engagement.
�Customer Engagement strategies and techniques to help gain competitive advantage.
�Concepts of �value� and �superior perceived value�.
�Measures and indicators for product market fit using Customer Engagement.
�The techniques will include the following:
1. Moments of Truth (MOT)
2. Customer Lifecycle Marketing Strategy
3. Customer Decision Journey
Customer Validation
�Concept and definition of Customer Validation.
�Factors, benefits and implications when developing a Customer Validation strategy.
�Product tests that provide comprehensive coverage of product quality, interoperability and user experience.
�Measures and indicators for product market fit using Customer Validation.
�The techniques will include the following:
1. Agile Product Iteration Model (Plan- Develop- Evaluate- Learn)
2. Build-Measure-Learn Loop Model
3. Alpha Tests/ Beta Tests/ Field Tests
Product Market Fit Strategy
�Factors that influence the buying decisions of the customer.
�Relationships between the product market fit strategy and product development.
�Organisation agility and alignment vis-�-vis product development.
Entry Requirements
Please see course weblink for more information