Introduction: What is a product? What is the level of the product? We understand the essence of the product: meeting pain point needs and realizing cost/time savings. There are differences between products and user perceptions in any sense. A good product is like a good story, which not only gives users a carrier, but also activates their emotions. Products can be roughly divided into three stages: "can have" with a weak sense of existence, "need you" with a sense of dependence, and finally "can't live without" with recognition and high barriers. Before becoming a product manager, we define a product manager: a product manager is the manager of a product, deeply involved in the entire life of the product from birth to end, planning directions and proposing solutions to solve problems through various methods.

To get started, we first need to master the entire knowledge system. Here we recommend the following learning tools:

1. Deliberate practice: The core lies in "focus and feedback". Reading the red book again and again, one of the differences between professional players and ordinary players is the amount of practice. At the same time, you need to clearly understand the difficult points in the book and the elements that need improvement, and work hard to improve.

Set a plan and break big goals into small goals. At the same time, there needs to be sustainable feedback on the goals. Accurate and timely corrections. Feedback can use the "Feynman learning method".

2. Feynman Learning Method: Summarize and repeat. When you can repeat it to others and others can understand what you said, it means you have mastered it.

3. Product management tools: such as mingmanage, project, storyboard and other methods.

4. Read and summarize "The Pyramid Principle": Cultivate structured thinking. Zhang Xiaolong's "2019 WeChat Open Course": Understand how to communicate with customers. "Deliberate Practice" "Cognitive Nature"

The knowledge system structure is: new product development, portfolio management, new product process, product life cycle management, cultural organization and team, tools and performance measurement, and market research 7 Chunks. Both independent and interconnected. Next, the core ideas and main contents of each chapter will be introduced respectively:

1. New product development strategy

New product development strategy: Provides an environment and environment for product development and product management. Goals and directions.

Strategic level: mission, corporate/business strategy, innovation strategy, functional strategy.

Key qualities of organizational identity: core, enduring, and unique.

Business strategy: A set of actions to provide a unique value. For most businesses, this unique value comes from the products and/or services the business provides in a specific market. Product development and product management are at the core of most business strategies.

Corporate strategy: The strategy of a diversified organization, analyzing clearly "in which business areas we compete" and "how these business areas collaborate to enhance the competitive advantage of the entire organization."

Porter's Law Framework: Keywords - cost leadership (price sensitivity, economies of scale, optimized supply chain), differentiation (unique, high quality, loyal user relationships, high performance and high quality), market segments (Narrow, deep, unique needs).

Myers and Snow strategic framework: Keywords-Explorers (taking risks, seeking to go public, seeking growth), Analysts (fast following, plagiarism, stronger performance), Defenders (stabilizing the market) Medium maintenance) responder (slow response).

Ansoff Matrix:

Continuous innovation and disruptive innovation: disruptive innovation is generally a business model, and architectural innovation is generally a technical model.

Technology Forecasting: The process of gaining insight into the future to predict technology trends and their potential impact on an organization.

Types of intellectual property rights: Patents (which prohibit others from making, using or selling them for a certain period of time)/copyrights/trademarks/plant variety rights/trade secrets

Marketing mix: products/places/promotions /Price

Three levels of products: core benefits (core benefits or services/performance), tangible performance (quality, style, packaging), additional performance (installation, warranty, after-sales service)

Boston Matrix:

Open Innovation: Purposeful knowledge inflows and outflows accelerate internal innovation and leverage external innovation to expand markets.

2. Portfolio management

Five major goals: value maximization, project balance (time, risk, resources), strategic synergy (priority, matching degree, contribution), pipeline balance ( Number of projects), financial stability

Portfolio management project types: breakthrough projects (new technologies, high risks), platform projects (common architecture, sub-interfaces), derivative projects (to make up for product line deficiencies), Support projects (incremental improvement, efficiency improvement)

Three major goals of strategic synergy: strategic fit, strategic contribution, strategic synergy

Selection of product opportunities: non-financial (via / Failure method, weighted scoring method) Financial type (net present value, internal rate of return, return on investment, payback period)

Balanced portfolio: In order to achieve a good balance of risk and return, add more to the product portfolio A range of new product opportunities. The main application tool is bubble chart.

Methods of resource allocation: based on project resource needs and new business goals?

Roles of resource allocation: project manager-resource director-resource planning leader (monthly) -Project planning leader (monthly meetings, quarterly scenario analysis)

3. New product process

Fuzzy front-end: The results of the product development process are based on a series of correct decisions On the other hand, decision-making comes from knowledge, information and data. Therefore, the "front end" in the product development process is very important. The earliest idea generation stages, initial concept development stages, and advanced business stages of product development.

Gate management process: process (discovery, screening, development, testing and modification, launch), stage (activities, comprehensive analysis, deliverables), gate (deliverables, standards, output) advantages ( Guidelines, constraints, transparency, hardware) limitations (bureaucracy, rigidity, high cost, no creativity)

Integrated product development (IPD): concurrent engineering, replacing the traditional waterfall model (requiring design implementation verification and maintenance)

Lean product development: Keywords (elimination of waste, chief engineer system, customer priority)

Agile development: process>tools, software>documentation, cooperation>negotiation, response>plan. Principles (early, continuous, welcome changes, frequent delivery, face-to-face communication with colleagues, etc.)

Three major differences: agile and doorway management (doorway management is complete, comprehensive, a macro process, and cross-functional , focus on the threshold. Suitable for hardware), agile and lean (agile emphasizes quick response, small steps, continuous iteration, and response to changes)

Product Innovation Charter (PIC): Background (purpose, operation and innovation) Relationship, scope, team role, project limitations) Key stages (target market, key technologies and marketing methods, competitors’ strengths and weaknesses) Goals and objectives (business goals, related goals) Special guidelines (reporting system, meeting system, external agencies Participation)

4. Culture, organization and team

Management role in product development: (strategic aspect) The company’s vision and mission are developed by the executive team together with key functional leaders; Business strategy is developed by the executive team of the business unit; functional strategy is developed by the head of the functional department; product strategy is developed by senior product managers; innovation strategy is developed by senior managers in cross-functional teams. (Process aspect) Process champion - responsible for the adjustment, continuity and improvement of the process; process leader - responsible for the results of the process; process manager - ensure that the process is carried out in an orderly manner; project manager - responsible for specific projects.

(Team and organizational aspects): Top management establishes the culture; functional managers and individual team/project managers drive a positive atmosphere; senior product development managers are responsible for team development. (Product aspect) Chief Product Officer - Develops overall product strategy; monitors and manages product marketing and development; reports to CEO. Senior Vice President, Product Manager - Leads a large team of product managers; works closely with key leaders in engineering, sales, manufacturing and marketing functions to ensure that the products developed are correct and help achieve company goals. Product Group Manager - Responsible for providing guidance to the product team of a certain product group; responsible for executing the strategy set by senior managers; responsible for the strategy, roadmap and functional definition of a certain product or product line; leading a cross-functional team as an engineering , marketing, sales and ancillary support functions.

Product and project management: Product management is responsible for discovering and defining the scope; project management is responsible for the execution and delivery of the scope; the project manager is responsible for the project in stages, and the product manager is responsible for the entire life cycle of the product.

Team definition: Several people with the same goal and complementary abilities, have the same goals and routes, share responsibilities, and fight side by side. Including: creative product developers, entrepreneurs, project leaders, initiators, information processors, atmosphere makers.

Characteristics of high-performing teams: strategic alignment, engagement (a sense of belonging, knowing that contributions are valuable), and empowerment.

Intelligent team: Projects are divided according to functions and coordinated by functional managers or senior managers. It is suitable for companies that only work on one project at a time or have a small project group.

Lightweight team: There is a project coordinator who has no real power and is responsible for supervising the plans made by others. No rights to change or reallocate resources. Participate in projects only for the "necessary" time period. Responsible for project planning, checklists and monitoring progress. There are liaisons between various functions.

Heavyweight team: Projects take precedence over functions, and team leaders have a certain influence on the performance of team members. But salary, promotion and career development lie with functional managers. Each function has a corresponding person in charge.

Autonomous teams: also known as "tiger teams", are fully responsible for team members.

5. Tools and Technology

SCamper Strategy: Behavior that inspires creativity (S Substitute C Merge A Transform M Adjust P Change use E Remove R Reverse operation)

Brainstorming method: 6-10 people, free play, no judgment.

Mind map: network way of thinking, the center connects creativity

Storyboard: story development, sketching

Brain writing method: same as brainstorming, after 15 minutes Collect and discuss

Six Thinking Hats (white: facts, red: expressing emotions, yellow: useful, black: shortcomings, green: creativity, other possible uses, blue: summary statement)

SWOT analysis

PESTLE analysis: political, economic, social, technological and legal environment

Delphi: expert judgment, questionnaire survey, prediction of future trends.

Divergent thinking and convergent thinking: divergent-rejecting the worst things, convergent-assuming the correct way to do things

Feasibility analysis (passing standards in gateway management): technology, economics ( Market, finance, marketing, manufacturing), law (regulations, intellectual property)

Financial analysis (the core element in feasibility analysis)

Sales forecast: ATAR analysis (cognition -Experimentation-Availability-Repeat Purchase), estimates are often required for new ones required. Problems 1. The target users do not know or are unwilling to inform 2. The market is dynamic 3. Reliable market research is expensive and inaccurate.

Determine costs:

| ?Fixed costs - expenses that do not vary in proportion to business activity.

| ?Variable costs - Expenses that vary in proportion to an enterprise's business activities.

| ? Capital costs - the cost of purchasing land, buildings and equipment.

| ?Salary cost-all of the above

Selling price: Market demand determines the selling price, and cost is the competitive advantage of an enterprise.

Return on investment (ROI): the ratio of return obtained through investment to investment cost, such as Yu'e Bao's 4. The level of return on investment required by a company or organization is called the "minimum expected rate of return", which is generally between 10-15.

Return on investment measurement: payback period, net present value (∑(CI-CO)/(1 i)^t) net value (income-expense) present value (amount/(1 i)^ t), internal rate of return (the discount rate when the net present value is 0, used to evaluate the attractiveness of project or product investment). The purpose is to achieve true returns and serve as a primary tool in portfolio management.

Product concept and design specifications: Product concept-the development team and project members provide a clear and consistent description, an important means of explaining the product to customers. Product Design Specification - Clarifies product design and provides a quantitative and objective representation. Product concept description - directional expression.

Design Thinking: Identify (Discover, discover opportunities through customers. Define, gain a deep understanding of customer needs related to the product) Solve (Create, develop a concept that can be shared with the target market. Evaluate, evaluate Feedback from prototypes and the basis for more iterative improvements)

Quality function deployment and house of quality: a structured approach that uses matrix analysis to combine market needs with development work. Typically used to express team agreement on the connection between customer needs and detailed product features.

Build a House of Quality: 1. Identify customer attributes 2. Identify design attributes 3. Connect customer attributes and design attributes 4. Evaluate against competing products 5. Evaluate design attributes and development goals 6. Identify design attributes to develop in the remainder. Advantages: The team approach reaches consensus, promotes cross-functional discussions, and allows the product development team to focus on customer needs. Starting from customer needs, quality function development provides a structured basis for product design specifications and engineering design requirements. Disadvantages: cumbersome, time-consuming, and complicated.

Design For Six Sigma: Designed to reduce changes in business or manufacturing processes through improvements in various processes. The goal of DFSS is to achieve efficient resource utilization, high output, and robust design of process changes. DMAIC’s data-driven strategy for improving processes.

DMAIC can improve existing products and services to the best possible level, but it is still subject to design limitations, so the DFSS method is chosen for design.

l? Define definition

l Measure measurement

l Analyze analysis

l Improve

l Control

DFSS method (IDOV) DMAIC method can improve existing products and services to the best possible level and is a specific method for designing new products and services

l? Identity identification

l? Design design

l? Optimize optimization

l? Validate verification

Innovative problem-solving method: TRIZ problem-solving method based on logic and data , is a repeated paradigm of learning programs.

Project management: initiation, planning, execution, monitoring and closing. The triple constraints are scope, cost, and schedule. The critical path is the longest path during the project and the shortest time to achieve the project.

Performance measurement: Measurement indicators meet the following conditions: 1. Closely related to strategy 2. The basis for learning and continuous improvement. The key to successful measurement: only measure poorly done things, understand what can and cannot be done, and what to measure. Quantity is strong and metrics are consistent with company goals. When measuring, the person responsible for deciding the measurement is present, and monitoring takes immediate action. Metrics are often used in reporting sessions. Doesn't provide a solution. The point of measurement is - doing the right things and doing things right.

6. Market research

Voice of customers: source of creativity, purpose of market research.

| ?Define the problem

| ?Clear the accuracy of the results

| ?Collect data

| ?Analyze and interpret

| ?Draw conclusions

| ?Application

Research on secondary markets: The definition of secondary markets is the study of data collected by others. For example, government statistical reports, public publications, patents, online blogs or forums, etc. The advantages are short information collection time, low cost and wide range of data sources. The shortcomings are that it lacks focus, its accuracy and reliability are not credible, and it is out of date. Suitable for situations where the information does not need to deal with high-risk or high-cost decisions.

Primary market research: Initial research for data collection against existing objectives. Divided into qualitative research (sensory, one leaf knows autumn) quantitative research (data speaks for itself. Basis: error range/confidence range, confidence level, variance)

Sampling methods: random sampling, stratified sampling, cluster sampling

Focus group: 8-12 people, qualitative market research method. The host guides the discussion and focuses on consumer problems, product problems and solutions.

Customer site visits: Quantitative market research methods. Go to customer sites, observe how customers use the product and record it. There’s a heavy reliance on “asking the right questions to the right people.”

Ethnographic Market Research: Research customers. Qualitative descriptive market research in relevant contexts to gain a deep understanding of lifestyles and cultural environments, and to obtain customer needs and problems. Divided into on-site research and home research.

Social media: A series of methods of market communication and information collection enabled by social media.

Surveys: Customers vote to determine their satisfaction with existing products or to identify needs for new products.

Consumer testing group: A certain type of consumer group selected by a research company or institution to participate in testing and provide feedback. Including "trained" and "untrained" consumer panels are particularly suitable for participating in short-term quick surveys.

Alpha, beta, and gamma testing: mostly used in the software industry, not strictly quantitative analysis.

| ?Alpha testing: Similar to usability testing, usually done by customers or outsiders.

| ?Beta testing: Completed by a subset of end users before product delivery.

| ?Gamma testing: After the software that meets specific requirements is ready for release, skip all internal testing activities and proceed directly to testing.

Test marketing: In order to observe consumers’ reaction to the product, the product is released into a limited area in a strictly controlled manner.

| ? Sales wave research: For those who have received a product for free Provide similar products to the customer base and record the number of customers who continue to choose the product and their level of satisfaction

| ? Simulated marketing test: Provide a small amount of money to test the effectiveness of the promotion.

| ?Controlled test marketing: Place new products under real market conditions.

| ?Test marketing: launch the product in the selected area.

Multivariate analysis and multivariate method: explore the relationship between an outcome variable and one or more predictor variables

l Factor analysis: First, reduce the number of variables; second, Find out the structural relationship between variables, which can be used for prioritization and grouping of key variables

l Cluster analysis

l Multi-dimensional scaling analysis visualization method to show the distribution of a data in each Similarity between cases. Provide reference for discovering defects in new products

l Conjoint analysis: used to determine how much people value different attributes that make up a product or service

l Multiple regression analysis

Crowdsourcing: A set of tools for obtaining information and applying it to a specific task or project by mass soliciting solutions from others.

7. The life cycle of new products

The process of getting to market: The new path is an iterative process. It includes what, who, where, how. The old-fashioned process is a linear process, manufacturing first, and then deciding how to sell.

New process:

| ?What: What are the advantages? Providing a holistic solution.

| Who to sell to? Ways to seize the market, select the most potential market segments as the place where the product will be launched for the first time, and then launch it one after another

| ?How to sell? Channel strategy, there are many channels to promote products to the market, pay attention to the product Factors? Organizational Factors/Price Factors/Customer Factors

| ?Where? Communicate the right information about the product in the right way

Sustainable product development. Innovation: a development model that meets the needs of the present without compromising the ability of future generations to meet their own needs. The goal of the circular economy is to create a closed loop in the product life cycle: initial → improvement → success → leading.

Circular economy and innovation: recycling of nature and production, optimization of use and reproduction

Triple bottom line: financial, social, and environmental. 3P can also be used. Represents: profit, people, planet

Food kilometers: the distance traveled by food from its place of production to the hands of consumers.

Drift. Green: A company or organization spends more time and money promoting "green" operations through promotion and marketing rather than actual business efforts to reduce its impact on the environment.

Life cycle assessment: Based on the life cycle. Assessment, summarizing the environmental impact of products and services. Sustainable design framework: environmentally oriented design/sustainable design

Summary points: The knowledge points in the system are fragmented, and appropriate summary can make the framework clear. The context is clear.

Facing weaknesses: You can consolidate and penetrate the areas you don’t understand or lack.

Clear vision: As described in NPDP, always. Clarify your goals and build a learning skills system.

Life is not easy, cherish your time, and if you still have the energy, you can try to achieve your own personal goals