I Product Management Concepts

Definition of Product Management. Defining the Product Management Domain and the TM Foundations of the Blackblot PMTK Methodology

Introduction

The Blackblot Product Manager’s Toolkit (PMTK) is a comprehensive set of models and professional templates which constitute a complete product management methodology that illustrates notable best practices and processes to help create successful market-driven products.

At the very core of the Blackblot PMTK Methodology are two foundation rules which govern the entire methodology.

This chapter defines product management and presents the logic and rationales of how the two Blackblot PMTK Methodology foundation rules are derived.

User and Buyer

At the heart of the product management domain are the user and the buyer entities whose motivations can be illustrated with the following example.

A sand bucket and shovel is a child’s toy. Before buying this product, the child’s parents check the sand bucket and shovel for safety, price, and reliability. More than likely the parents’ main interest in the sand bucket and shovel is the effect that the product will have on the child.

The parents buy the sand bucket and shovel and give them to the child who plays with them at the beach. The child will use the sand bucket and shovel to move sand, dig a hole, carry water, and more. The child’s interest in the sand bucket and shovel is all about what they can do with this product.

From this example it is apparent that the parents are the Buyer entity of the product. The buyer is focused on the product’s value which is derived from the benefits that the product provides in exchange for money. From this example it is also apparent that the child is the User entity of the product. The user is focused on

© Springer International Publishing AG 2017 5

G. Steinhardt, The Product Manager’s Toolkit , Management for Professionals,

DOI 10.1007/978-3-319-49998-7_2

the product’s functionality. The user’s only concern is what they can do with the product.

 
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