PRODUCT

MANAGEMENT
Tutorial
Prelim

Instructor: Iris Cristine F. Gonzales

Student: Maxilum, Jen-jen E.
 MODULE 1: PRODUCT MANAGEMENT-
INTRODUCTION
READINGS:
Introduction to ProdMan
Product Management is an organizational function that guides every step of a
product’s lifecycle: from development, to positioning and pricing. It involves
strategically driving the development, market launch, continual support, and
improvement of a company’s products.

A Product Manager is responsible for the success or failure of a product. They

facilitate collaboration with cross-functional teams to ensure that a product meets both
business goals and the customer’s needs.

The Product Management Process includes the following steps:

1. Identify a high-value customer pain point: Understand the needs of your

target market and determine which problems are most important to them.
2. Quantify the opportunity: Estimate the market size for your solution and
assess the potential revenue that could be generated.
3. Research potential solutions: Investigate different ways to solve the
identified problem.

Agile Product Management is a method often used for software products. It aims to
increase the speed and efficiency of product development and release. Key concepts
include prioritizing features based on customer feedback, encouraging effective
communication and collaboration between product teams, and streamlining the
development cycle for faster production of high-quality products.

ACTIVITY: The Essayist

Instructions: Answer the following questions based on your readings above.

1. Do you think product management is important? Why?

2. Why is it important to start with identifying the pain points (problem/needs) of the
customer?
3. Do you think it is effective to manage a product without estimating a market size
and assessing the potential revenue?

4. Why is it crucial to look into different ways on how we can solve the identified
problem?

5. How do you understand Agile Product Management?

QUIZ:
Instructions: Highlight the correct answer.
1. A business role that oversees all stages of a product's life, from its creation and
development, to its market placement and cost determination.
a) Marketing Management
b) Product Management
c) Strategic Management
2. This refers to the product management process step in which you identify the needs
and problems of the customers.
a) Identify a high-value customer pain point
b) Quantify the opportunity
c) Research potential solutions
3. This refers to the product management process step in which you size up your
market and measure your possible profit.
a) Identify a high-value customer pain point
b) Quantify the opportunity
c) Research potential solutions
4. This refers to the product management process where you delve into different ways
of solving the identified problem.
a) Identify a high-value customer pain point
b) Quantify the opportunity
c) Research potential solutions
5. A method often used for software products. It aims to increase the speed and
efficiency of product development and release.
a) Agile Product Management
b) Project Management
 c) Financial Management

READINGS:
The Product Management Process

The Product Management Process is a series of steps that guide the journey of a
product from its initial concept to its final launch. This process can involve releasing a
new product or feature, or iterating on an existing one. Here are the key stages:

1. Gathering and managing ideas: This involves identifying opportunities,

understanding why the user has a problem, and how the product can provide a
solution.

2. Determining product specifications (specs): Flesh out the ideas into more
concrete plans.

3. Creating a product roadmap: This outlines the future direction of the product.

4. Prioritizing product features and initiatives: Decide which initiatives will have
the biggest impact and greatest ROI.

5. Building a minimum viable product (MVP): Develop a version of the product

with enough features to satisfy early customers and provide feedback for future
development.

6. Releasing the MVP: Launch the product to the market.

7. Analytics and feedback: Measure the product's performance and gather feedback
for improvement.

ACTIVITY: Flow of the PMP

Instructions: Make a flowchart for the Product Management Process.
QUIZ:
Instructions: Highlight the correct answer.
1. This step is refered to as making the blueprint or map that will outline the direction
for product development.
a) Creating a product roadmap
b) Releasing the MVP
c) Analytics and feedback
2. This step is referred to as the launching of the product to the market.
a) Creating a product roadmap
b) Releasing the MVP
c) Analytics and feedback
3. This step is referred to as the measurement of the performance of the product and
the gathering of feedback to improve.
a) Creating a product roadmap
b) Releasing the MVP
c) Analytics and feedback
4. A series of steps that guide the journey of a product from its initial concept to its
final launch.
a) Product Management Process
b) Product Launch
c) Product Marketing

READINGS:
The Product Planning System

The Product Planning System refers to the process of product development and
management that involves defining and strategizing to create a successful product1. It
encompasses activities and processes required to identify market needs, set product
goals, prioritize features, and create a roadmap for product development1. The goal of
product planning is to align business objectives with customer needs and market
demand.

Key components of product planning include:

 Market Analysis: Evaluating market trends, customer preferences, and

competitive landscape to identify market opportunities and potential
challenges.
 Customer Research: Understanding the needs, behaviors, and pain points of
target customers through surveys, interviews, user testing, and data analysis.
 Product Vision: Creating a compelling product vision that defines its purpose
and aligns it with the overall business strategy.
  Product Goals: Setting specific, measurable, achievable, relevant, and time-
bound (SMART) goals that guide the product’s development and success
metrics.
 Product Roadmap: Creating a visual representation of the product’s planned
features, timelines, and priorities.
 Prioritization: Identifying and prioritizing the most valuable features and
functionalities based on customer needs, market demand, and business
objectives.
 Cross-functional Collaboration: Collaborating with various teams, including
product management, design, development, marketing, and sales, to gather
input, align strategies, and ensure smooth execution.
 Iterative Development: Embracing iterative and agile development
methodologies to incorporate feedback, adjust, and continuously improve the
product.

ACTIVITY: Concept Mapping the Product Planning System

Instructions: Make a concept map of the product planning system.

QUIZ:
Instructions: Highlight the correct answer.
1. This key component refers to the part of product planning where you assess the
market, the trends, preferences, opportunities and possible challenges.
a) Market Analysis
b) Customer Research
c) Product Vision
2. This key component refers to the part of product planning where you highlight and
take into priority the most useful elements and features based on market needs,
demand and business goals.
a) Market Analysis
b) Prioritization
c) Product Goals

3. This key component refers to the part of product planning where you use SMART
goals that guide the product growth.
a) Product Roadmap
b) Prioritization
c) Product Goals

4. This key component refers to the part of product planning where you do data
analysis to understand target customers.
a) Product Vision
b) Customer Research
c) Product Goals

5. Refers to the process of product development and management that involves

defining and strategizing to create a successful product.
a) Product Financing
b) Product Planning System
c) Product Manager