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Product Mastery Now for Product Managers, Leaders, and Innovators

487: Product Innovation Management: First of Seven Knowledge Areas of Product Mastery – with Chad McAllister, PhD

Apr 29, 2024
Chad McAllister, PhD dives into product innovation management, discussing factors influencing innovation, challenges in product work, and the significance of creating value for customers. The podcast explores essential skills for product managers and emphasizes the importance of vision, strategy, and commercialization in product management.
32:54

Episode guests

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Quick takeaways

  • Product innovation involves creating and introducing new or enhanced goods or services to add value for customers, recognizing the need for a cross-section of participants to drive successful product innovation.
  • Product managers play a pivotal role in understanding customer needs, developing product strategies, and guiding product development from ideation to launch, focusing on product success metrics like monetization, user engagement, and customer satisfaction.

Deep dives

Defining Product Innovation

Product innovation involves creating and introducing new or enhanced goods or services to add value for customers. Innovation is not solely about entirely new products but also encompasses improvements and new features to existing offerings. Successful innovation focuses on creating value for customers, judging value by customer feedback, and navigating the complexity of product projects influenced by controllable and uncontrollable factors.

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