November 18, 2016 / como / 0 Comments
An effective product plan is designed to ensure that a new product delivers business value to a specific set of customers and meets certain financial goals. It describes the market opportunity, profiles target customers, specifies pricing, identifies financial goals and indicates key priorities for development and enhancement. Finally, it provides a roadmap for delivery for at least the next four quarters.
A comprehensive market requirements document might serve as the product plan for a new product. But the product plan should be updated annually for each product that continues to be offered to customers. Successive plans should focus on increasing that products effectiveness.
Product management creates a list of potential enhancements for the plan by soliciting customer feedback, speaking with sales teams, obtaining a list of the top technical support issues, surveying competitor features and getting new ideas from the market. After that, project prioritization typically occurs due to limited development resources.
Many companies apply an arbitrary prioritization scheme based on the perceived number of times a feature or product has been requested or how much revenue they think it can generate. The product team may also make assumptions about value based on how it thinks the product should be used. The team then creates a roadmap and release schedule using these priorities and voila, the product plan is done, right?
No, the product plan isnt complete because the companys strategy hasnt yet been considered. So far, its merely a reaction to a somewhat random set of market facts and events. How exactly does the corporate strategy relate to the roadmap? The goal of almost any technology company is to increase revenues. Without a strategy to indicate how the company plans to increase revenue, almost any product plan could arguably help the company achieve its goal. But if the corporate strategy specifies how to generate new revenue, you can develop a product plan tailored to supporting that strategy.
For instance, your company could plan to grow revenue in a number of ways: by selling the flagship product in new geographic regions; establishing a new reseller channel; enhancing existing products to appeal to a wider base of customers; or developing new products that appeal to the existing customer base. Each decision carries significant implications for the product plan.
Selling in new geographic regions requires local language support and other specific regional requirements. Selling through a reseller channel requires multi-tier administration and branding. Enhancing products to appeal to a wider customer base involves profiling new customers to understand their unique needs and requirements. And finally, developing new products requires new analysis, requirements, design and development work.
Each strategy results in a different prioritization of projects and a different allocation of resources. The previously created product plan is reactionary and haphazard, while the product plan that responds to corporate strategy is directed and intentional.
The Strategic Planning Process
So lets take a look at what an end-to-end product planning cycle might look like when integrated with the companys strategic planning cycle. If a company resets its corporate strategy, financial plans and product plans once per year, the planning process ideally occurs during the fiscal years third and fourth quarters in preparation for the upcoming year.
First, the product team presents a market review to executive management, sharing facts on market trends and opportunities, key customer needs, and competitor moves and positions. Although the product group keeps tabs on many of these items throughout the year, this is the opportunity to update information to ensure its complete and current. Other functions may be invited to provide their perspectives on the market and customers as well.
During the financial review, the finance organization presents results on the financial performance for the overall company, each sales channel and each product. Providing revenue and profitability by product is critical to making sound product decisions and developing effective strategies.
Article Submission Process:
1.Registration
2.Mail confirmation (If needed)
3.Login
4.Try to find “submit article/Write article/publish article” button and click.
5.Fill up the form and submit.
6.To collect article confirmation link you have to go “edit article/preview article/modify article/my article” button and click.
7.Copy the web browser address bar link and paste in excel file as a article confirmation link.
Excel file cell (Which is to be submitted as a proof)
Article Directory, PR, Username, Password, Status, Confirmation Link, Keyword or Title
March 19, 2016 / como / 0 Comments
You have probably heard of the term public relations. You are aware that it has something to do with protecting your business name, making it look good in the public, and ensuring that it has a good reputation.
Public relation is common in almost all the industries today. Big corporations consult PR professionals to come up with a good campaign that will make them look good in the public.
You are probably wondering why hire a professional when it is common sense that the public will love you if you are good. Yes, this is true. People love supporting organizations with a good heart. However, how will the public know if the organization has a good heart if they do not share their goals, plans, and achievements to the public?
This is the task of the PR group. They have to make sure that the public sees the good side of the organization. Aside from that, having a PR group offers several advantages. Here are some of them:
1. Credibility is one of the major advantages of having a PR group. Unlike advertisements that pay networks or billboards to show the promotional items, PR builds an organization through stories. Stories that are true. PR group uses the media as a channel to get the message through. Since most customers perceived media as an independent party, they trust their judgments and reviews.
2. It is long lasting. PR builds the credibility of the organization. As long as the organization maintains their credibility, the name of the organization will remain good in the eyes of the consumers. This means that they do not have to post an ad to remind the public that they have high quality products. Just the mention of their name, the customers immediately associates it with quality.
3. Its cost is not as high. The amount you are going to shell out is very low compared to the results you will generate from the campaign. Since it is long lasting, you will benefit from it longer as well.
4. Customers will find the organization more interesting. Unlike in advertising that only takes a few minutes, the PR efforts stir the interest of the public. If they are able to read that the company cares for the environment, they will check out their activities that prove the claim. If they are having a grand recycling program, they will be able to generate support from environmentalists.
5. It helps build the image of the organization. PR efforts do not only concentrate on business segment of the organization. Its efforts are towards the company as a whole. Because of this, the consumers will not only patronize a single product from the company, but its whole line of items.
Surely, public relations offer several advantages. Its effects last longer. Since this is the case, its cost is definitely lower than any form of promotional tools. Aside from that, its campaigns are not only for one line of product. It builds the credibility and reputation of the entire organization.
October 22, 2015 / como / 0 Comments
Developing a Perfect Marketing Strategy in Russia
Effective marketing and advertising starts with developing a perfect marketing strategy as it helps you in achieving your business goals. A marketing strategy includes below given steps which you need to follow to earn maximum return out of your investment:-
Market Research
If you are planning to launch your products in Russian market, it becomes necessary to do thorough market research. Marketing research in Russia is very important as the decisions like which advertising media to choose, in which area of Russia, the products should be distributed etc., can be taken easily with the help of results achieved out of market research in Russia. Various market information like size, growth, social trends, demographics etc., can be achieved through market research. If you have complete information about the market, you will be able to implement effective advertising strategy for your products.
Public Relations
If you are newly launching your company in Russia, then it becomes necessary that there should be a very good reputation of your company amongst the consumers in Russia so that you can sell your products or services easily. An advertising agency in Russia offering PR services in Russia works towards developing a positive image about your company in Russia which gives great results in terms of sales and profits.
Advertising Media
Choosing a right advertising media is also important to develop a perfect marketing strategy. Whether you want to go for online advertising in Russian websites or opt for outdoor advertising and indoor advertising in Russia, depends on the type of product or service you are trying to sell. You can also opt for advertising in public transport in Russia to get more attention. Advertising on television in Russia would be great as so many people watch TV and may come across your advertisement which may convert them into your customers. There are many people who hear radio all the time, so if you advertise your products on Radio, you may get attention of those people.
If you need to market your products successfully in Russian market just visit http://www.russia-promo.com, which is the website of Russian Marketing and Advertisement Association, tied up with many advertising agencies in Russia who can suggest you the most effective and perfect marketing strategy to market your products in Russia.