Since the well-known definition of Marketing as the 4 Ps – Product, Price, Promotion, and Placement, and more recently with the suggestion that there are 7 Ps – Product has remained an important component of a company’s marketing mix.
Today, many people associate Product Management more with Technology versus Marketing. At TechCXO, we believe that Product Management is an integral part of a cross-functional strategy and execution which encompasses and aligns with marketing, technology, operations, and finance.
Depending on what stage of its growth that your company is in, TechCXO provides many product management services:
Products for Startups
In the early, pre-seed stages of a startup, often the most important product management initiative is Minimum Viable Product (MVP) validation. The business is focused on revenue realization, and so launching a MVP, testing it, refining it using agile methodology incorporating sprints to develop or refine new features, is a key activity where TechCXO can help build a MVP to validate product-market fit and achieve revenue traction
As a company is in emerging growth, and is raising its initial funding rounds, the focus is on revenue acceleration. The development of a product roadmap and associated new products is critical to achieve aggressive sales goals and achieve a critical mass of customers. TechCXO can provide interim or fractional product leadership to help in this stage.
Once a company is making progress in achieving scale and sustaining growth, the focus shifts to revenue retention. A company needs a product line strategy across all of its offerings to optimize go-to-market and achieve operational efficiency. This is often where TechCXO can help a company pivot, or diversify into new market and customer segments with an expanded product line
Products & Exits
As a company seeks to exit, TechCXO can evaluate potential synergies from a product, market and technology perspective, as well as integrate those areas after a M&A transaction. In the case of an IPO, TechCXO can help execute additional product management priorities, and set objectives and key results (OKRs) that will be evaluated by shareholders as a public company. In either case, the cultural transformation and change management focus will be important to continue successful product management initiatives.