After the recent Apple keynote, a friend sent me these questions:
- Is the watch now a permanent part of your purchase? Buy one every 2 years to pair with your iPhone?
- What would have to happen for you to say – it is not worth spending $350 to have a watch on my wrist?
- Why buy a $350 Apple when a $100-$200 Pebble gives you the same functionality?
The question behind the question is, what is the compelling reason to buy a product. Continue reading
There is a scene in “The Godfather”, where Rocco kills Paulie Gatto in the car and Clemenza tells Rocco, “Leave the gun, take the cannoli”. Clemenza’s wife has asked him to bring some cannoli home, but he has another task to be done. He has to finish Gatto, Vito Corleone’s driver, for treason. So the murder takes place during the cannoli errand. After Rocco kills Gatto, Clemenza instructs him to leave the gun, but to take the cannoli.
What is the significance of this line, and why am I bringing it up here in reference to the iPhone 5S? In the mob world, a murder is just part of the job, not much to be dwelled upon. Other things, like cannoli, are more important. We’ll see how this applies to the iPhone 5S. Continue reading
After understanding value, creating value, and capturing value, we now come to the next part of the value journey, i.e. communicating value.
A product manager has to be an effective communicator. Effective communication is timely, concise, and inspiring, yet with a lot of empathy. In the daily grind of the job, there are numerous things that pull a product manager in many different directions, yet, the opportunity to communicate with different stakeholders is always welcome. Continue reading
Seemingly everyday and mundane things sometimes end up being a good business lesson. I am back in India after some travel. Yesterday I had to get some kids photos printed in order to give our friends who are moving to Singapore. It was late in the evening when I stopped by one of the small photo printing outlets that is inconspicuously located at the back of a general store. Below is my conversation with the “PhotoGuy” which took place in Hindi and which I narrated to the family once I got home. It may seem like I am negotiating a very small amount (less than $1), which my wife pointed out to me, but it is not about the amount as hopefully will be clear from the dialog. Continue reading
After “Understanding Value” in Part 1, and “Creating Value” in Part 2, we come to the third aspect of the value journey, “Capturing Value”. When we think of capturing value, the topic of pricing comes up as important. While price is an important aspect of capturing value, it is not the only one. The price of the product allows capturing value in the economic sense.
Some days back I started reading Walter Isaacson‘s “Steve Jobs” all over again. Chapter fifteen, titled “The Launch” is about the launch of the first Macintosh in 1984, and ends with the following sentences: Continue reading
Here are some statistics that should make everyone pause:
- Today, more than 600 million girls live in the developing world.
- Approximately one quarter of girls in developing countries are not in school.
- One girl in seven in developing countries marries before age 15.
- An extra year of primary school boosts girls’ eventual wages by 10 to 20 percent. An extra year of secondary school: 15 to 25 percent.
- When women and girls earn income, they reinvest 90 percent of it into their families, as compared to only 30 to 40 percent for a man.