You're faced with external market changes. How do you prioritize features in response?

If external market shifts occur, the first step is to examine the impact on your product. Determine how these changes effect user needs or the competitive landscape. Use client feedback and market research to reassess your product's advantages and disadvantages. Porter's Five Forces model helps you understand competitive factors such as market entry threats and consumer power, whereas the BCG Growth-Share Matrix assists you in prioritizing product features based on market growth and share. Other frameworks to explore are PESTLE, SWOT, Impact Effort Matrix, and Jobs to be Done (JTBD).

Prioritization should also involve ? aligning with internal teams ?, including engineering, sales, and marketing, to ensure that feature development supports overall business objectives and can be delivered within a feasible timeline.

1. Analyze the Market Shift: Identify the Change: Clearly define the specific market change. Is it a new technology, a shift in customer preferences, increased competition, or a regulatory update? Assess the Impact: Determine the potential impact of this change on your business, customers, and product roadmap. How urgent is the need to adapt? Gather Data: Collect data from market research, customer feedback, competitor analysis, and industry trends to understand the evolving landscape.

Customer voice is core to your roadmap and you need to be able to pivot with the market and the customer. But to be truly successful you also need to understand the customer's why. Don't just take the "I need XYZ feature or product" and run with it, understand what the customer is trying to accomplish or what problem they are trying to solve and be truly part of the solutioning.

When the market shifts, it's easy for us to get caught up in the chaos. But amidst the uncertainty, one thing remains constant: the customers' needs. We need to listen to their voice to prioritize features that truly matter. Reach out to them, ask about their pain points, and analyze how they use your product. It's not just about adding shiny new features, but about refining or even letting go of those that no longer serve them. By putting the customers at the forefront, we'll build a loyal following that will stick with us, even as the market landscape changes. Remember, their needs should drive the innovation, not just our assumptions.

2. Prioritize Features Based on Value: Customer Needs: Focus on features that address the evolving needs and priorities of your target customers. What are they looking for now? Competitive Advantage: Identify features that differentiate your product from competitors and provide a competitive edge in the changing market. Business Impact: Prioritize features that have the greatest potential to drive revenue, increase customer satisfaction, or improve operational efficiency. Feasibility and Cost: Consider the feasibility and cost of developing and implementing each feature. Prioritize those that are realistic and achievable within your resources.

To preserve a competitive advantage, you must evaluate how your competitors are responding to market fluctuations. Through evaluating their practices, you might find industry trends and potential ways to differentiate your offering. Porter's Five Forces framework can be used to examine competitive dynamics, while a SWOT analysis can highlight your strengths in comparison to competitors. Prioritize features that differentiate you through innovation, improved user experience, or cost leadership. Rather than simply imitating competition strategies, focus on meeting your users' demands in a unique way to strengthen your market position.

A feasibility analysis is essential to ensuring that the features you've chosen are viable. This process entails determining the technical and financial resources required, including development time, expenses, and potential return on investment (ROI). Frameworks like as the Impact Effort Matrix might be useful in this situation, allowing you to see the trade-off between the effort required and the possible impact of each feature. A SWOT Analysis can also help uncover internal strengths and weaknesses in resource allocation. Features that are too costly or time-consuming should be reviewed, with a focus on those that provide the most value effectively while preserving quality and user impact.

5. Monitor and Adapt: Track Progress: Monitor the progress of feature development and implementation. Track key metrics to measure the impact of the prioritization decisions. Iterate and Adjust: Be prepared to iterate and adjust your feature prioritization based on market feedback, competitor activity, and evolving customer needs.

Man muss aufpassen, dass Pseudo-konforme-Projekte nicht hochstilisiert werden zu PrioA. Opportunit?tskosten/-projekte als Methodik hilft mir auch immer mehr Relevanz von (schlechten) Opportunit?ten abzugrenzen. Ein Top-Mgmt Commitment genauso wie Akzeptanz auf der anderen Seite, muss gelebt werden. Ablehnung von Entwicklungen ist normal, Roadmap Freigabe ist Seltenheit. Projektcontrolling führt dann bei der Datenanalyse zur lernenden Organisation…

Remember: Prioritizing features in response to external market changes is an ongoing process. By staying informed, analyzing data, and using a structured approach, you can ensure your product remains relevant and competitive in a dynamic market.

Roadmaps über 12M (kurz) und 24-36M sind absolute Pflicht für die strat Planung. Hat man unterschiedliche Szenarien entwickelt so hat die Roadmap auch Antworten parat. Wer hier Opportunit?t/Glück mit Szenarien und die Vorbereitung darauf verwechselt hat in der Strategiephase keinen umf?nglichen Blick gewagt. Dennoch sind agile Anpassungen absolut notwendig, zB rasant ?ndernde Gesetzgebung durch neue pol. Verantwortung, müssen agil einzuplanen sein. Dauer-Freir?ume und Mut in Entwicklung und Produktmanagment gewinnt deshalb an Bedeutung. Kreativit?t, neue L?sungen und keine stetige überlastung führen zu neuen Optionen. Auch in Phasen starker externer Ver?nderung!