5 Phases of Product Innovation & Management
Product innovation and management are key capabilities for developing successful scalable, digital products. But if you're new to product innovation and management, building the processes and competencies you need to be successful can be overwhelming. For example, should you start by improving your voice of the customer skills or Agile project management skills or product usage analytics skills or all of the above?
To help you determine where to focus, we've built a short assessment that outlines all of the components of product innovation and management that, in our experience, we believe are most important, we also define what "good" looks like for each component.
A little bit of background:
As I’ve discussed before, modern product innovation and management, what we refer to as Product Leadership, is a competency – not a single person’s job.
Product Leadership is an organization-wide model for how to develop and bring products to market successfully. It’s a model that evolves over time and encompasses activities from data analysis, market research, finance, product development, sales and marketing.
We've created the Vecteris Product Innovation Quotient to measure your competencies across the five phases of product innovation and management:
- Discover: understand your market
- Scope: generate, screen and productize ideas
- Develop: build a functioning product that delights users
- Launch: ready your organization and go
- Measure: monitor and adjust for growth
We designed the Vecteris Product Innovation Quotient to walk you through each stage, outline best practices and help you determine which areas you should focus on improving first.
Please feel free to the Vecteris Product Innovation Quotient today and let us know if it’s helpful. Of course, our team is ready to help you at any stage of your product innovation and management journey. Don’t hesitate to reach out to learn more.