She proposed that product managers excel in three areas - Sensing, Seizing and Transforming - if they want to design innovative new products that customers will love.
Sensing: is all about understanding the strategic environment. What are the latest trends? Who is the competition? What are the user needs?
Seizing: product managers must be great at taking advantage of opportunities in the market. These opportunities are discovered through detailed portfolio analysis and planning to understand how customers are using your product or substitute products today. Pricing and positioning at this stage is critical to help you win customers hearts and minds.
Transforming: successful managers lead cross-functional teams and use strategic business negotiation or influence to get the resources they need. They quickly design value propositions, get them out to market fast, and start learning in real-time from users.
The product managers job is also to link the technical side (writing product design documents and creating business cases) with marketing skills (creating marketing plans, developing promotions, expanding channels).
I regularly hear from product managers who say, “enough with the theoretical stuff, tell me what I have to do to be successful.” I think the ideas of Sensing, Seizing and Transforming should be considered along with a back-to-basics approach of focusing on, and designing for, the customer.