Part 1: New Product Management Lifecycle:

The Spice Catalyst Way

In a previous blog entitled: “Eight Reasons Why Sticking to Today’s Product Life Cycle Frameworks will Enhance Your Chances of Failure”, I outlined eight weaknesses of the most popular product lifecycle frameworks from AIPMM, Pragmatic Marketing, Blackblot, Adaptive Marketing and the 280 Group which lacks an understanding and consideration of the:

1. Digital transformation
2. Customer journey
3. The flexibility of being agile
4. Innovation by observing what your customers actually “do” at the beginning of your market research
5. Impact of social media not only regarding marketing but also regarding defining your product
6. Messaging of your product based on a value proposition taken from what your customers “do” and tuned to targeted personas with positioning derived from that specific “do.”
7. Impacts on your long-term business as a result of how you end your product’s life and lastly the
8. Integration of operations

With that in mind, Spice Catalyst has incorporated the above-mentioned weaknesses and generated a new, realistic framework depicted above and described below.  It incorporates these key factors:

• Doing product planning and marketing in a logical order such that work is done only once and the work being done builds upon previous actions–avoiding the need to constantly reinvent the wheel.
• All planning and implementation is done in a quick, Agile fashion
• The “Customer Journey” and today’s “Digital Transformation” is taken into account when planning for and implementing the product lifecycle
• Incorporating social media into the planning, including the use of personas–not for just marketing/selling, but also for defining “who” and “why” product is being built

Calls to Action:

1. If you would like a copy of this new Product Lifecycle click here
2. Schedule an “Agile Product Market Strategy Workshop” which includes an online course as a pre-boot camp homework using the supplied planning template or
3. Take the online course

Next up … Describing the process of developing a winning strategy for your product.

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