Every product goes through various phases in its lifecycle, from initial idea to ultimate commercial success.
The Marketing Pathway System focuses on phases zero through three, the pre-growth phases.
Within each phase, the Marketing Pathway System defines specific marketing requirements (best practices) which:
- Shorten time to launch
- Reduce the risk of failure
- Increase product revenue & value
These requirements represent the high-level ‘todo list' for a successful product.
The Marketing Pathway System provides the methodology and tools for efficiently completing each requirement.
37 Pre-Growth Requirements Ensure Product Success
Success in Phase 4 (achieving the products full potential) depends upon the execution of the marketing requirements of the previous phases.
These are what I refer to as ‘pre-growth' requirements, and they are the focus of the Marketing Pathway System.
The first, and most impactful phase is the first one, Discovery, which is the process of finding a perfect product-to-market fit.
Phase Zero: Discovery – How Great Companies ‘Stack the Deck' for Product Success
The first, and perhaps the most impactful, phase of the product lifecycle is Discovery which is the process of ensuring the best possible product-to-market fit. Discovery helps you invest in the highest value product opportunities that uniquely meet the needs of key stakeholders.
Discovery is the foundation of product development as well as product marketing, and the assets created in Discovery are critical to every phase of the product lifecycle.
In this phase the user needs, product concept, and market opportunity are evaluated and confirmed. Discovery requirements provide a clear and validated picture of the product concept and the market opportunity for the product.
In essence, great Discovery leads to great products.
And Discovery is not a ‘once and done’ set of deliverables, the assets and information included in Discovery must be updated in every phase throughout the product lifecycle.
It is crucial to ensure that your product:
- Addresses a pressing need or desire within your market
- Is easy to sell and practically sells itself
- Can be brought to market quickly
- Generates customer interest and pre-launch demand
- Fosters passionate customer loyalty
The impact of Discovery can vary greatly depending on how much you put into it.
Skipping or inadequately performing Discovery can lead to developing the wrong product, resulting in failure, mediocrity, or unrealized potential.
Doing a thorough job with Discovery minimizes the risk of failure, accelerates the time to market, and maximizes the value of the product for all stakeholders.
Many of my clients initially felt that they didn't need to complete Discovery because they were already successfully selling their product. But, the product's success was being held back by incomplete, or out of date, Discovery deliverables. By completing Discovery, we established the foundation for achieving a higher level of growth to achieve the full potential of the product.
Discovery Requirements
- X.0.1 Product Infrastructure Setup
- X.0.2 Phase Plan
- X.0.3 Stakeholder Profiles
- X.0.4 Product Capsule
- X.0.5 Market Opportunity Analysis
- X.0.6 Business Model Canvas
- X.0.7 Product Concept Overview
- X.0.8 Market Confirmation & Feedback
- X.0.9 Phase Review
Phase 1: Planning – Everything Goes Smoother, Faster and Better When You Take The Time to Plan Before Starting
The purpose of Phase 1 is setup and planning for the project.
In this phase we are establishing the marketing operations infrastructure for the product, completing critical plans, defining design inputs, and developing the business model.
We are also recruiting alpha users who will provide design input, feedback, prototype testing, etc. during Phase 2, Design & Development. Alpha users will also be the first customers in Phase 3, Validation & Prelaunch.
In this phase, and in all subsequent phases, Discovery requirements are updated. These are living documents that are refined, improved, expanded over time — and which grow in value as marketing assets.
At the end of the phase, a review is completed with company leadership and a go/no go decision is made about proceeding to Phase 2, Design & Development.
Planning Requirements
- X.1.1 Phase Plan
- X.1.2 Strategic Marketing Plan
- X.1.3 Product Marketing Plan
- X.1.4 Design & Development Plan
- X.1.5 Product Requirements Document
- X.1.6 Risk Mgmt., Regulatory & Legal Strategies
- X.1.7 Alpha User Recruitment
- X.1.8 Update Discovery Requirements
- X.1.9 Phase Review
Phase 2: Design & Development
Phase 2 is where the product is transformed from concept to reality, starting with a technical specification. The product is developed to meet the requirements outlined in the Product Requirements Document (PRD) and following the steps outlined in the Design & Development plan.
The design is verified to confirm, through testing, that output meets requirements. The market is also verified to confirm user acceptance of product design, business model, and product assets.
Phase 2 includes documentation, risk management, and legal & regulatory compliance activities. It also includes the development of product collateral, messaging, positioning, training, and support materials.
Discovery Requirements, Strategic Marketing Plan, and Product Marketing Plan are updated.
Design review is completed and a go/no go decision is made about proceeding to Phase 3, Validation & Launch.
Design & Development Requirements
- X.2.1 Phase Plan
- X.2.2 Technical Specification
- X.2.3 Product Design & Development
- X.2.4 Product Assets: Packaging, Collateral, Branding, Messaging, Positioning, Training Materials
- X.2.5 Market Verification: Prototype, Business Model, Final Product, Product Assets
- X.2.6 Risk Management, Regulatory & Legal Activities
- X.2.7 Update Discovery Requirements
- X.2.8 Update Marketing Plans
- X.2.9 Phase Review
Phase 3: Launch
Phase 3 is about rolling-out or launching and preparing for growth. The product becomes commercially available and starts to generate revenue, but is not yet ready for parabolic growth in Phase 4.
The primary objective is to complete phase 3, which is characterized by narrow targeting, moderate growth and foundational activities, and move into phase 4 as quickly as possible.
This includes developing proof of marketing assumptions and product performance as well as creating and optimizing marketing processes, systems, and promotional infrastructure.
In this phase we are also doing brand and channel development as well as establishing a foundation for the product/brand on social networks.
Another key characteristic of Phase 3 is that the stakeholders engaged/recruited in this phase are usually ‘early adopters’ – about 13% of any given market.
Launch Requirements
- X.3.1 Phase Plan
- X.3.2 Market Validation: product acceptance, efficacy, revenue
- X.3.3 Brand Development
- X.3.4 Promotional Infrastructure
- X.3.5 Channel Development
- X.3.6 Social Foundation
- X.3.7 Promotion
- X.3.8 Update Discovery Requirements
- X.3.9 Update Marketing Plans
- X.3.10 Phase Review