Tag: Product Management

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Strategy

SWOT Analysis: A Powerful and Underutilized Tool

swot_imgphoto © 2008 jean-louis Zimmermann | more info (via: Wylio)
SWOT Analysis is a powerful tool for looking at your business.  Let’s take a look at how it works.  Then, you just might utilize it more.

SWOT Basics

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats.  The goal is to examine internal (Strengths & Weaknesses) and external (Opportunities and Threats) elements of a business.  If there are multiple product lines or lines of business the SWOT Analysis can be defined more or less narrowly as necessary.

Once the business to be examined is determined, start listing items that fall under each category.  I have performed SWOT Analysis by myself or with a group.  In a group, you may generate more items through serendipity.  For example, the merging of multiple ideas or the refinement of ideas through discussion.

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Categories
Product Management

The Ketchup King Seeks To Conquer Mexico

I recently read an article in the Wall Street Journal that described Heinz, the “King of Ketchup” making a move into Mexico.

Ketchup Versus Salsa

Salsa bypassed ketchup in the US as the most popular tomato-based condiment in 1992 according to the New York Times and National Public Radio.

Salsa actively moved into the home of Heinz and “conquered” American’s taste buds.  Since salsa overtook ketchup, Heinz had not retaliated in Mexico until 2008 and 2009.  A market that is not growing at home should be expanded overseas by an international firm.  Heinz focused on emerging markets in other parts of the world like China, Russia, and Indonesia while ignoring an obvious, large country south of its US headquarters.

What is most interesting is that Mexicans use ketchup on foods like chicken, pasta, eggs, and pizza.  These are not typical practices in the US but could increase sales volume.

So what were the Product Managers and Category Managers thinking?

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Categories
Marketing Management Strategy

Filling The Sales Funnel

There was a great question on LinkedIn recently.  The person asked, “What is the first thing a Director of Marketing should do?”

Responders to the discussion post had more questions than answers, or gave answers that were not on point.  My response was simple: “Fill the Sales Funnel.”

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Categories
Product Management Public Relations

How You Can Triple Your Bottom Line

I know it sounds like one of those Multi-Level Marketing (MLM) come ons.  However, the concept of a Triple Bottom Line is catching on with many businesses.

Triple Bottom Line

Triple Bottom Line is voluntary reporting some companies use to measure their ecological and social impact alongside their financial performance.  Utilizing various techniques a company may capture their financial (profit), ecological (planet) and social impact (people).  The triple bottom line becomes 1) financial, 2) ecological and 3) social impact.

Let’s take a look at the three different metrics.

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Categories
Product Management

Product Management Manifesto

The 280 Group in Campbell, CA developed a Product Management Manifesto.  It speaks to the many and varied roles of a Product Manager.  I think it captures the essence of what a Product Manager thinks and feels.  Please find it below in its entirety.  The material is copyrighted and used with permission of 280 Group.

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