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Product managers are asking our experts:
How Gartner helps
The biggest challenge tech providers have in knowing their customers is determining how to get input from existing customers and at the same time balancing that feedback with the knowledge of what prospects and future customers might want. Gartner can help in developing a deep understanding of customer needs, segmenting the market and determining the best target customers for your offering.
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Market sizing for internal business cases often becomes more of a sales pitch than an objective analysis. Product management leaders need their teams to have objective analyses to make the right investment decisions. Gartner can help in estimating the size of available and addressable markets, and in projecting how much of the market your products and services are likely to capture, as well as in providing insight into the trends effecting those markets.
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While most tech providers know who their competition is, many providers don’t fully understand how their offerings or services stack up against the competition. By evaluating the strengths and weaknesses of competitors, Gartner research and insights can help to determine how to improve your competitive position.
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Product roadmaps are too often on a development to-do list and that’s a missed opportunity for tech providers to engage their customer and their employees around their product vision. Gartner can help in establishing a vision for a differentiated offering that is based on an analysis of the market environment as well as the company’s competencies.
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Product managers are asking our experts:
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Technology product managers are tasked with deciding which of the requests and ideas for improving their products should be addressed first. Gartner can help in developing a systematic approach to prioritization and commitments, which not only gives product managers better decision outcomes but also drives alignment and confidence from stakeholders.
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Product differentiation can be achieved through the product’s key features, as well as through accompanying services that add value to how the customer uses the product. Gartner can help technology product managers to formulate solutions that deliver unique outcomes or provide tangible improvements to the customer experience.
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CEOs and business-unit leaders increasingly view CX as the top driver for sales and retention. Historically, the process to develop a product has been highly defined and sequential. The old way of doing things, however, lends itself poorly to delivering great customer and user experiences. Gartner can help product teams break down barriers between the product team and the customer, making the process more collaborative, iterative and open.
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A well-planned and well-designed product will not count for much if the product misses its critical launch window or fails to meet its revenue targets. Speed to market can be a fundamental element of product success. Gartner can help with agile development approaches, coupled with strategic use of suppliers and partners, to enable product managers to accelerate time to market and revenue.
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Product managers are asking our experts:
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Launching a product to the market requires extensive planning and coordination among stakeholders. Gartner can help in providing a close oversight of the broad range of tasks that must be performed, including messaging, pricing, B2B demand generation programs, sales enablement, customer training and measurement of launch success. Importantly, the rise of digital product management must focus on shifting from “final” versions to more frequent (minimally viable product?) launches and continuously improved functionality.
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According to buyer surveys, providing confusing or contradictory information is one of the top reasons a vendor would be immediately disqualified from consideration. Technology product managers play a critical role in explaining product features and business value. Gartner can help in:
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Prices for technology products are based on cost, competition and value to the customer, and product teams often establish different price tiers targeted at different customer segments. Increasing the sophistication of pricing options, however, also increases the complexity. Gartner helps product managers explore novel forms of pricing and mitigate risky strategies. For software providers transitioning to software as a service, Gartner offers advisory services, rooted in best-practices, to guide product managers through the shift from perpetual licenses or transactional one-time fees to subscription pricing models that drive revenue growth.
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Technology product managers often have significant discretion in defining and configuring their products. Capabilities can be packaged as optional add-ons to a core product; into different product tiers or editions; or into multiple, fully independent products. Gartner helps product managers assess the advantages and challenges of different packaging approaches and explore and uncover opportunities for upsell/cross-sell and bundling. Gartner also helps product managers consider and navigate the impact product packaging can have on marketing, sales, channel and customer support programs.
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Beyond the quality and usefulness of the product itself, market success requires coordinated effort from product management, product marketing and sales. Gartner can help technology product managers to understand their role in supporting market and customer-facing activities and that they must leverage proven techniques to build alignment and collaboration for their products to achieve market success.
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Product managers are asking our analysts:
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Achieving revenue and profitability objectives are the most common financial goals for product managers and their products and services. What Gartner adds to these discussions is how to achieve continued and sustained revenue and profit growth, or how to balance these objectives with other shorter or midterm goals such as market share, positioning and longer-term gains.
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Gartner publishes best practice, primary survey and industry-leading research for the more important emerging technologies, new business opportunities and industry-specific markets that detail insights into the capabilities and impacts of technologies and vendors. Gartner is well-positioned to assist your product management teams not only to identify the disruptive technologies and market factors that may impact your product and services, but also with how these disruptions may be harnessed to enhance and change your products and services to become even more competitive.
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Gartner has identified that product managers and their teams must continuously assess the development roadmaps of individual products and services in the face of limited resources, increased competition and rapid changes in their markets. Critical to these assessments are when and how product managers should balance evolution and innovation, given competing priorities of sustaining existing features and innovating on new capabilities — all with an eye toward differentiation, competitive advantage and achieving financial objectives. Gartner provides invaluable insights into the ways product managers can assess their products and how to remain competitive.
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Each product life cycle stage, from product planning through introduction, in-life management and retirement, requires different investment levels, management approaches and skill sets to optimize performance. From the nature of your industry, product and service, and technology maturity cycles, Gartner provides insights on how and when to perform the product life cycle management activities such as planning and communications around product and service roadmaps — including retirement, customer migrations and managing recalls.
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Product managers are asking our experts:
How Gartner helps
Gartner provides invaluable insights on how to structure multiskilled, multidisciplinary teams in product management environments; on what sort of skills are required to be a product manager and to manage leading development and introduction teams; and critically at these times, on how and where to recruit, develop and maintain talent.
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Metrics-based business-unit performance is one avenue that will be familiar to many product management teams. Gartner will be able to supplement these approaches with more qualitative and objective-based ways to measure performance of the team and unit. This may involve such techniques as Objectives and Key Result (OKR) models.
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Innovation extends beyond the actual products and services that companies make, and by working with Gartner, technology product managers will be able to explore and share some of the latest developments and thinking for product management approaches. There has been a lot of attention on areas such as agile development, customer experience in product design, and how digital products and services are packaged. This leadership topic is about moving beyond that and starting to explore some of the next topics such as continuous releases, service modularization and intelligent product development tools.
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The market for product management tools is large and crowded because of the breadth of capabilities needed for the role, as well as the depth of functionality needed to achieve success. Gartner’s knowledge of the best practices in the profession and of the highest-performing tools available delivers insights that allow customers to choose the right tool at the right time to use in the right space within their product management process.
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Gartner can help in focusing on best-practice approaches to engage and develop stakeholder commitment and engagement across different business units within the company.
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