Managing Product Success: Cool, Good, and Great Products
Edition: 1
Copyright: 2023
Pages: 212
Edition: 1
Copyright: 2023
Pages: 212
Choose Your Format
Choose Your Platform | Help Me Choose
Ebook
$30.00
$49.99
There are different levels of product success: Cool Products, Good Products, and Great Products. A cool product is one that receives consumer excitement when it is first introduced into the market, but fails to sustain that success in the market. A good product is one that can maintain a strong market position for an extended period of time. The lifetime of the product, the market share it captures, and the profit during the life cycle determines how good the product is. A great product is one that is "taken for granted" by others to create new businesses based on it - it is a source of innovation and a foundation for creating new marketplaces. A cool product introduces an exciting new possibility that doesn't quite have the market yet, but others may be able to create a version of it to build a good product. A good product contributes to a company's growth. A great product not only contributes to a company's growth, but it also contributes to the growth of the economy.
Production evolution consists of two phases: 0-1 product innovation and 1-N product expansion. Product success in 0-1 product innovation is turning a cool product into a good product. Product success in 1-N product expansion is about improving market competitiveness, maintaining profitability, and prolonging the product life cycle to continuously make a good product better or to evolve a product from good to great. The product manager's main job is to lead a cross functional team to manage a product's success throughout its evolution.
This book provides a theoretical foundation for product managers to improve their knowledge and competency in managing product success in the product evolution. Perfect for both graduate and undergraduate level courses in product management, this book covers:
- The product evolution cycle: 0-1 product innovation and 1-N product expansion
- How to manage unquantifiable risk in 0-1 product innovation
- How to manager competitive risk and inflection points in 0-1 product expansion
- How to turn a cool product into a good product, and a good product into a great product
- The latercomer mind-set and how to manage the latercomer's advantage
- Real-world examples to explain the various theories presented in this book
- Diverse and extensive case studies including international products, products across multiple industries. startups and large companies, as well provides both positive and negative examples to illustrate the theories in this book
Chapter 1: Cool, Good, and Great Products
Chapter 2: New Product Idea
Chapter 3: Turn Idea into Solution
Chapter 4: Lean Startups
Chapter 5: Data Analytics, Metrics, and Models
Chapter 6: Cool to Good
Chapter 7: One to N Product Expansion
Chapter 8: Good to Great
Chapter 9: Never Too Late!
References
Edison Tse is an associate professor in the Department of Management Science & Engineering at Stanford University. He received his BS, MS, and Ph.D. in Electrical Engineering from Massachusetts Institute of Technology. Professor Tse is also the Director of Asia Center of Management Science and Engineering, which has the charter of developing executive training programs for executives in Asian enterprises, conducting research on development of the emerging economy in Asia and establishing research affiliations with Asian enterprises, with a special focus in Greater China: China, Hong Kong, and Taiwan.
In 1973, he received the prestigious Donald Eckman Award from the American Automatic Control Council in recognition of his outstanding contribution in the field of Automatic Control. He had served as an Associate Editor of the IEEE Transactions of Automatic Control, and a co-editor of the Journal of Economic Dynamics and Control, which he co-founded.
Professor Tse has done research in system and control engineering, economic dynamics and control, computer integrated systems to support fishery management policy decisions, management and control of manufacturing enterprise, and industrial competitive analysis and product development. Tse developed a framework for analyzing dynamic competitive strategy that would shape the formation of an ecosystem supporting a value proposition. Within such a framework, he developed dynamic strategies for firms entering an emerging market, latecomers entering a matured market, and firms managing transformation. Using this framework, he developed a new theory on the business transformation of a company and the economic transformation of a developing economy. He applied his theory to explain China’s rapid growth since 1978, changing from a production economy to an innovation economy. His current research is extending the theory to managing product success, managing inflection point disruptions, sustainable growth strategy in a dynamic changing environment, and industries’ strategy responding to geopolitics disruption. Over the years he has made valuable contributions in the field of engineering, economics, and business creation and expansion. He has published over 180 papers on his research activities.
From 2004- 2015, he co-directed various Stanford-China programs on regional industry and enterprise transformation that were attended by high level city officials from various cities in China and high level executives from Chinese enterprises. Based on his research and teaching experiences in China, he wrote a book in Chinese “源创新 (Disruptive Innovation)” based on this theory and published in China in 2012. A second edition of this book, with new chapters incorporating some experiences of practicing the theory in China, was published in 2016 by China CITIC Press with a new title “重新定义创新(Redefine Innovation)”. From 2007-2013, he co-directed a Stanford Financial Engineering Certificate Program in Hong Kong that upgrades the quality of managers and traders in the financial institutions in Hong Kong
He was a co-founder and a Board member of Advanced Decision System (ADS), a technology company with emphasis on AI and advanced decision tools. The company was found in 1979 and later acquired by Booz Allen and Hamilton in 1991. In 1988, Verity was spun off from ADS with AI search engine technology developed in ADS to provide enterprise search software. He was a Board member of Verity representing ADS before Verity went IPO in 1995. From 2007-2010, he was a Board member of KBC Fund Management Co., Ltd.
There are different levels of product success: Cool Products, Good Products, and Great Products. A cool product is one that receives consumer excitement when it is first introduced into the market, but fails to sustain that success in the market. A good product is one that can maintain a strong market position for an extended period of time. The lifetime of the product, the market share it captures, and the profit during the life cycle determines how good the product is. A great product is one that is "taken for granted" by others to create new businesses based on it - it is a source of innovation and a foundation for creating new marketplaces. A cool product introduces an exciting new possibility that doesn't quite have the market yet, but others may be able to create a version of it to build a good product. A good product contributes to a company's growth. A great product not only contributes to a company's growth, but it also contributes to the growth of the economy.
Production evolution consists of two phases: 0-1 product innovation and 1-N product expansion. Product success in 0-1 product innovation is turning a cool product into a good product. Product success in 1-N product expansion is about improving market competitiveness, maintaining profitability, and prolonging the product life cycle to continuously make a good product better or to evolve a product from good to great. The product manager's main job is to lead a cross functional team to manage a product's success throughout its evolution.
This book provides a theoretical foundation for product managers to improve their knowledge and competency in managing product success in the product evolution. Perfect for both graduate and undergraduate level courses in product management, this book covers:
- The product evolution cycle: 0-1 product innovation and 1-N product expansion
- How to manage unquantifiable risk in 0-1 product innovation
- How to manager competitive risk and inflection points in 0-1 product expansion
- How to turn a cool product into a good product, and a good product into a great product
- The latercomer mind-set and how to manage the latercomer's advantage
- Real-world examples to explain the various theories presented in this book
- Diverse and extensive case studies including international products, products across multiple industries. startups and large companies, as well provides both positive and negative examples to illustrate the theories in this book
Chapter 1: Cool, Good, and Great Products
Chapter 2: New Product Idea
Chapter 3: Turn Idea into Solution
Chapter 4: Lean Startups
Chapter 5: Data Analytics, Metrics, and Models
Chapter 6: Cool to Good
Chapter 7: One to N Product Expansion
Chapter 8: Good to Great
Chapter 9: Never Too Late!
References
Edison Tse is an associate professor in the Department of Management Science & Engineering at Stanford University. He received his BS, MS, and Ph.D. in Electrical Engineering from Massachusetts Institute of Technology. Professor Tse is also the Director of Asia Center of Management Science and Engineering, which has the charter of developing executive training programs for executives in Asian enterprises, conducting research on development of the emerging economy in Asia and establishing research affiliations with Asian enterprises, with a special focus in Greater China: China, Hong Kong, and Taiwan.
In 1973, he received the prestigious Donald Eckman Award from the American Automatic Control Council in recognition of his outstanding contribution in the field of Automatic Control. He had served as an Associate Editor of the IEEE Transactions of Automatic Control, and a co-editor of the Journal of Economic Dynamics and Control, which he co-founded.
Professor Tse has done research in system and control engineering, economic dynamics and control, computer integrated systems to support fishery management policy decisions, management and control of manufacturing enterprise, and industrial competitive analysis and product development. Tse developed a framework for analyzing dynamic competitive strategy that would shape the formation of an ecosystem supporting a value proposition. Within such a framework, he developed dynamic strategies for firms entering an emerging market, latecomers entering a matured market, and firms managing transformation. Using this framework, he developed a new theory on the business transformation of a company and the economic transformation of a developing economy. He applied his theory to explain China’s rapid growth since 1978, changing from a production economy to an innovation economy. His current research is extending the theory to managing product success, managing inflection point disruptions, sustainable growth strategy in a dynamic changing environment, and industries’ strategy responding to geopolitics disruption. Over the years he has made valuable contributions in the field of engineering, economics, and business creation and expansion. He has published over 180 papers on his research activities.
From 2004- 2015, he co-directed various Stanford-China programs on regional industry and enterprise transformation that were attended by high level city officials from various cities in China and high level executives from Chinese enterprises. Based on his research and teaching experiences in China, he wrote a book in Chinese “源创新 (Disruptive Innovation)” based on this theory and published in China in 2012. A second edition of this book, with new chapters incorporating some experiences of practicing the theory in China, was published in 2016 by China CITIC Press with a new title “重新定义创新(Redefine Innovation)”. From 2007-2013, he co-directed a Stanford Financial Engineering Certificate Program in Hong Kong that upgrades the quality of managers and traders in the financial institutions in Hong Kong
He was a co-founder and a Board member of Advanced Decision System (ADS), a technology company with emphasis on AI and advanced decision tools. The company was found in 1979 and later acquired by Booz Allen and Hamilton in 1991. In 1988, Verity was spun off from ADS with AI search engine technology developed in ADS to provide enterprise search software. He was a Board member of Verity representing ADS before Verity went IPO in 1995. From 2007-2010, he was a Board member of KBC Fund Management Co., Ltd.