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Transforming Innovation
       Into Profit
  Hector Del Castillo, CPM, CPMM, PMP
     Transforming products into profit.TM
  AIPMM Sr. Product Marketing Manager
       hdelcastillo@aipmm.com
            Participate in Your Success
                  August 28, 2010
Thank You to Our Sponsors




2
AIPMM Core Team
•   Therese Padilla - President, Co-Founder AIPMM
•   Paula Gray - VP, Co-Founder, Anthropologist-in-Residence
•   Steve Wells - Senior Product Manager
•   Hector Del Castillo - Senior Product Marketing Manager
    –   BS EE, MS EE
    –   CPM, CPMM & PMP certifications
    –   IEEE Standards experience
    –   10+ years in product management
    –   20+ technologies (HW/SW/Apps)
    –   10+ industries (12+ mobile/wireless)
    –   Launched over 15 hardware and software products
    –   Passion for transforming products into profit

        3          © 2010 AIPMM, All Rights Reserved.
What We Will Discuss
• Tips to create an action plan to increase
  the profitability of products you manage.
• Identify best business practices and tools
  to help you turn products into profit.
• Share war stories.



    4       © 2010 AIPMM, All Rights Reserved.
What is Innovation?




    “I’ll be happy to give you innovative thinking.
               What are the guidelines?”
5           © 2010 AIPMM, All Rights Reserved.
Innovation is…
• A change in the thought
  process for doing
  something, or the useful
  application of new
  inventions or discoveries.
• An incremental emergent
  or radical and revolutionary
  changes in thinking,
                               a discipline that is not easily
  products, processes, or
                               learned.
  organizations.


        6          © 2010 AIPMM, All Rights Reserved.
Innovation Process




• Innovation requires synergy.
• It also requires team work.
 Source: 2010 Accept Software Webinar,
         Tom Grant, PhD, Senior Analyst, Forrester Research Inc.

    7              © 2010 AIPMM, All Rights Reserved.
Product Management is
    Everything it takes for
    a company to deliver
    a product that
    satisfies the
    customer’s need from
    the customer’s point
    of view to maximize
    profit.

8                © 2010 AIPMM, All Rights Reserved.
What can a Product Manager do to
foster innovation?
1.  Adopt best business practices that encourage innovation
    throughout the product life cycle.
2. Create alignment within your product team and company.
3. Gather ideas internally and externally.
4. Encourage open communication.
5. Encourage problem solving.
6. Flatten management within the product team.
7. Engage team in driving the vision for your products.
8. Create a relaxed, fun, and open environment.
9. Recruit and reward innovative people within your product team.
10. Benchmark your products and processes with your competitors.

       9           © 2010 AIPMM, All Rights Reserved.
Integrating Innovation

             What is
           desirable to                 Ideas are not enough;
             users?
                                        you must find a way to
                                        integrate them into your
          Innovation
                                        company’s culture,
  What is               What is         product strategy,
possible with        viable in the
technology?          marketplace?       processes, and products.



    10           © 2010 AIPMM, All Rights Reserved.
What are the biggest barriers to
fostering innovation in your company?
A. Poor management
B. Insufficient investment in product
C. Lack of innovative people
D. Inadequate product planning process
E. Unable to implement best practices
F. Late adoption of leading edge
   technologies or methodologies
    11     © 2010 AIPMM, All Rights Reserved.
Product Management Life Cycle
    Make innovation an integral part of the Product
Management process that you drive within your company.




                            Source: AIPMM, © 1998-2010, All Rights Reserved.


      12       © 2010 AIPMM, All Rights Reserved.
Marketing Mix
• Product
• Price
• Promotion                                      Target
                                                 Market
• Place [Distribution]
• Target Market
• Product Positioning

    13      © 2010 AIPMM, All Rights Reserved.
Benefits of Innovation
• Better tools to implement product
• Expanded product capabilities
• Adoption of leading-edge technology
• Improved user experience
• Additional product value for customers
• Strengthened product positioning
• Enhanced product delivery
    14      © 2010 AIPMM, All Rights Reserved.
What other tips would you add?


How have you successfully fostered
innovation to improve your products?

What can you do to transform innovation
into profit?


    15     © 2010 AIPMM, All Rights Reserved.
Why Join AIPMM?
A.   Participate in networking opportunities.
B.   Expand your knowledge and soft skills.
C.   Learn best practices and methodologies.
D.   Opportunities to lead activities.
E.   Get certified; validate your expertise!
F.   Execute your personal career plan.



       16      © 2010 AIPMM, All Rights Reserved.
Useful Links
Association of International Product Marketing & Management
• Website: http://www.aipmm.com
• Articles: http://www.aipmm.com/html/newsletter/article.php
• Blogs: http://aipmm.com/anthropology/
• Webinars: http://aipmm.com/aipmm_webinars/
• Certification: http://aipmm.com/html/certification/
• Product Management Framework Brochure:
  http://www.aipmm.com/brochures/AIPMM_PMF.pdf




      17         © 2010 AIPMM, All Rights Reserved.
Transforming Innovation
       Into Profit
  Hector Del Castillo, CPM, CPMM, PMP
     Transforming products into profit.TM
  AIPMM Sr. Product Marketing Manager
       hdelcastillo@aipmm.com
            Participate in Your Success
                  August 28, 2010
Transforming Innovative Products Into Profit

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Transforming Innovative Products Into Profit

  • 1. Transforming Innovation Into Profit Hector Del Castillo, CPM, CPMM, PMP Transforming products into profit.TM AIPMM Sr. Product Marketing Manager hdelcastillo@aipmm.com Participate in Your Success August 28, 2010
  • 2. Thank You to Our Sponsors 2
  • 3. AIPMM Core Team • Therese Padilla - President, Co-Founder AIPMM • Paula Gray - VP, Co-Founder, Anthropologist-in-Residence • Steve Wells - Senior Product Manager • Hector Del Castillo - Senior Product Marketing Manager – BS EE, MS EE – CPM, CPMM & PMP certifications – IEEE Standards experience – 10+ years in product management – 20+ technologies (HW/SW/Apps) – 10+ industries (12+ mobile/wireless) – Launched over 15 hardware and software products – Passion for transforming products into profit 3 © 2010 AIPMM, All Rights Reserved.
  • 4. What We Will Discuss • Tips to create an action plan to increase the profitability of products you manage. • Identify best business practices and tools to help you turn products into profit. • Share war stories. 4 © 2010 AIPMM, All Rights Reserved.
  • 5. What is Innovation? “I’ll be happy to give you innovative thinking. What are the guidelines?” 5 © 2010 AIPMM, All Rights Reserved.
  • 6. Innovation is… • A change in the thought process for doing something, or the useful application of new inventions or discoveries. • An incremental emergent or radical and revolutionary changes in thinking, a discipline that is not easily products, processes, or learned. organizations. 6 © 2010 AIPMM, All Rights Reserved.
  • 7. Innovation Process • Innovation requires synergy. • It also requires team work. Source: 2010 Accept Software Webinar, Tom Grant, PhD, Senior Analyst, Forrester Research Inc. 7 © 2010 AIPMM, All Rights Reserved.
  • 8. Product Management is Everything it takes for a company to deliver a product that satisfies the customer’s need from the customer’s point of view to maximize profit. 8 © 2010 AIPMM, All Rights Reserved.
  • 9. What can a Product Manager do to foster innovation? 1. Adopt best business practices that encourage innovation throughout the product life cycle. 2. Create alignment within your product team and company. 3. Gather ideas internally and externally. 4. Encourage open communication. 5. Encourage problem solving. 6. Flatten management within the product team. 7. Engage team in driving the vision for your products. 8. Create a relaxed, fun, and open environment. 9. Recruit and reward innovative people within your product team. 10. Benchmark your products and processes with your competitors. 9 © 2010 AIPMM, All Rights Reserved.
  • 10. Integrating Innovation What is desirable to Ideas are not enough; users? you must find a way to integrate them into your Innovation company’s culture, What is What is product strategy, possible with viable in the technology? marketplace? processes, and products. 10 © 2010 AIPMM, All Rights Reserved.
  • 11. What are the biggest barriers to fostering innovation in your company? A. Poor management B. Insufficient investment in product C. Lack of innovative people D. Inadequate product planning process E. Unable to implement best practices F. Late adoption of leading edge technologies or methodologies 11 © 2010 AIPMM, All Rights Reserved.
  • 12. Product Management Life Cycle Make innovation an integral part of the Product Management process that you drive within your company. Source: AIPMM, © 1998-2010, All Rights Reserved. 12 © 2010 AIPMM, All Rights Reserved.
  • 13. Marketing Mix • Product • Price • Promotion Target Market • Place [Distribution] • Target Market • Product Positioning 13 © 2010 AIPMM, All Rights Reserved.
  • 14. Benefits of Innovation • Better tools to implement product • Expanded product capabilities • Adoption of leading-edge technology • Improved user experience • Additional product value for customers • Strengthened product positioning • Enhanced product delivery 14 © 2010 AIPMM, All Rights Reserved.
  • 15. What other tips would you add? How have you successfully fostered innovation to improve your products? What can you do to transform innovation into profit? 15 © 2010 AIPMM, All Rights Reserved.
  • 16. Why Join AIPMM? A. Participate in networking opportunities. B. Expand your knowledge and soft skills. C. Learn best practices and methodologies. D. Opportunities to lead activities. E. Get certified; validate your expertise! F. Execute your personal career plan. 16 © 2010 AIPMM, All Rights Reserved.
  • 17. Useful Links Association of International Product Marketing & Management • Website: http://www.aipmm.com • Articles: http://www.aipmm.com/html/newsletter/article.php • Blogs: http://aipmm.com/anthropology/ • Webinars: http://aipmm.com/aipmm_webinars/ • Certification: http://aipmm.com/html/certification/ • Product Management Framework Brochure: http://www.aipmm.com/brochures/AIPMM_PMF.pdf 17 © 2010 AIPMM, All Rights Reserved.
  • 18. Transforming Innovation Into Profit Hector Del Castillo, CPM, CPMM, PMP Transforming products into profit.TM AIPMM Sr. Product Marketing Manager hdelcastillo@aipmm.com Participate in Your Success August 28, 2010