In Life or Life Cycle Management of Current Products

In some companies management of current products, product ranges and solutions after they have been launched and introduced is neglected or becomes a matter of dealing with problems and/or sales support. In Life management of current products when done well can lead to better pay back and profitability.
Instead of just relying on an ad hoc way of management reliant on the individual skills of product, marketing, business development and operational managers, an In Life Management 'roadmap' and toolkit can produce better results.

The Time to Market approach for In Life Management of current or new products and solutions uses a 'tailored' roadmap and toolkit for regular and structured management The key principles are:

The Multi P's are an extension the classical 4 P's of the marketing mix to achieve better differentiation and effectivity, these include: Product, Price, Place, Product (Range) Portfolio, Product (Range) Platforms, Profit, Projects (Multi Projects), (Business) Processes.............

The Multi C's which includes Customers; Customers' Customers; Chunks; Competitors; Contingents; Countries/Cultures; Collaborators; Co-Workers …….. Which provides an outside-in mindset.

Product Portfolio Management to optimise results and address cross-portfolio impacts (cannibalisation) and opportunities for leverage.

Product Value Propositions and Product value Claims to focus on target customers and the Key Selling Points which will make products successfull.

Product Management metrics dashboard to provide measurements, targets and trends to help decision making and action identification. An example is shown to the right.

Key Drivers, Macro Trends and SWOT analysis to identify actions and improvements

Tight linkage and feedback to other stages of product or solution life cycle

Toolkits and software to support creativity, innovation and forward thinking while matching plans to reward, risk and resources.

From our wide experience of product marketing and management in different international markets and industries, such as:

• Electronics; Telecoms; Software and High Technology
• Engineering and Manufacturing
• Food and Beverages
• Chemicals
• Ceramics and Building products
• Financial Services
• Retailing

We can tailor In Life Product Management practices and methods into those best suited to a specific company, business unit, market or industry.

Commercial or In Life management principles and practices can be tailored for: physical products and associated services; non-physical products and services; Business to Business (B2B); Business to Consumer (B2C) and Business to End-User (B2E) applications.
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Framework, Roadmap or Processes
An example is illustrated below:

In most cases we help tailor the roadmap and toolkit to a client's situation in terms of the mix and complexity required.

Toolkits:
The Time to Market approach utilises an advanced set of tools to achieve a market, customer and competition oriented and creative approach for end to end management of product ranges and portfolios. These include:

Financial Model
Multi P's: Product (Ranges); Price; Place; Promotions; Product (Range) Portfolio; Value Propositions; Product Platforms; Profit; Projects; Business Processes
Multi C's: Customers; Customers' Customers; Chunks; Competitors; Contingents; Countries/Cultures; Collaborators; Co-Workers
Product Value Proposition and Product value Claim
SWOT Chart
Product Management Metrics Digital Dashboard
WHEAT (Withdraw, Harvest, Extend, Accelerate, Transform) Chart
UI (Urgency - Importance) Tool
Product or Solution Evolution Plan

Software Packages and Templates
Many of the tools are provided with Excel or Web based software packages or templates to facilitate practical use and ease of learning.

Implementation Programme
Each programme is tailored to the client's situation, but typically comprises the following deliverables: roadmaps and models; toolkits, facilitated workshops and software.
A typical programme comprises:

An assessment of current product ranges and In Market or In Life management practices and processes

Agreement of programme deliverables

Tailoring of framework or model, toolkit and software for client's specifics

Facilitated workshops, 1:1 and 1:n coaching

Off-line telephone and e-mail support

Skills transfer to Product Managers, Product Marketers, Product Marketeers, MarComms folks et. al.

Training Programme
Time to Market offers comprehensive in-house training and skills development programmes to meet the needs of companies seeking to improve the skills and know how of their people and to leverage improvements in Product Life Cycle Management.

All programmes are tailored to the needs of our clients and are provided in-house.

For more details click below:

Product Management training programme

Free Proposal
We can provide a free proposal, including programme outline with costing, to meet your requirements - please contact us.

For more information clicking on the links below:

Product Marketing and Management
Product Strategy and Product Portfolio Strategy: framework and tools
Product Definition (PD) and pragmatic Quality Function Deployment (pQFD)
Voice of Customer (VoC) and Market Research
Competitive Analysis and Competitor Analysis
New Product Introduction (NPI) or New Product Development (NPD)
In Life or In Market Management of Current Products
Product Value Proposition and Value Propositions Portfolio
Product Development, Marketing and Management Software Applications
Product Management and Product Manager Training