Mar 2, 2020
Why you have to check out today’s podcast:
- Learn about product management’s role in pricing strategy
- Learn the importance of having a strategic customer and market-driven business case that will define the direction of your product and what you want to achieve
- Understand Customer Perceived Value, what appeals to the consumer and why you need to put a dollar value to your product feature/solution
Steve Johnson is the CEO and founder of Under10 Consulting. His focus is on implementing 'just enough' process using proven methods.
Since 1979 he has worked in computer hardware, software, and services. Over the years he has moved up from product manager to CMO and has worked with tens of thousands of product managers and product leaders at thousands of companies.
In this episode, Steve Johnson shares how to implement world-class product management.
“Look at the cost savings or the impact on customers and take 10% or more. You know, if you've got a good brand name, you can charge 15 if you don't, you can charge 10 but you certainly need to be at the end of the day. If you're solving a problem that people don't have 10% enough and is still nothing.” - Steve Johnson
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Topics Covered:
01:42 - What his product management role look like thirty years ago
03:52 - What are the roles of product managers and product marketing managers
08:48 - Why the need for clarity on buyer persona, market size, and positioning
11:58 - Are product managers thinking about the value or are they just thinking about problems
15:59 - Why write a business case and why the need for due diligence on an idea
17:49 - How to value a feature or solution
21:53 - Stressing about the importance of product strategy, product planning, and product growth
25:03 - The best pricing advice he has
Key Takeaways:
Quoting Luke Hohmann: “A product owner, now a product manager owns pricing, a product owner doesn't.” - Steve Johnson
“Right now, I'm kind of enamored with three brand new titles that I made up, product strategy, product planning, product growth because other people have got all this baggage with product manager or product owner and or product marketing manager. But I like those three titles because it aligns directly with what I'm wanting them to do, which is come up with a strategy for future products or come up with a plan for what we're going to do next or look for ways to grow the products we have now.” - Steve Johnson
“All of my work is really around pretty simple metaphors like, all right, now that you have those three roles or one role, let's write down everything you expect those people to do and I'll show you how to decide whether those things are product things, development things or sales things.” - Steve Johnson
People / Resources Mentioned:
- Luke Hohmann
- Natalie Louie
- Innovation Games: Creating Breakthrough Products Through Collaborative Play by Luke Hohmann
- Quora
- Hired
- Zuora
- Oracle
Connect With Steve Johnson:
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