Over the course of the last seven weeks, our group worked on a company that focuses on the med-tech wearables market. More importantly, we noticed in the product descriptions that our company faced numerous roadblocks and hesitancies; thus, the most important responsibility for us became to whittle down on a few, hand-selected features to implement. After interacting with different customer groups and understanding their unique pain points, we decided that the most strategic decision would be to focus exclusively on the elderly care segment. We initially had over twenty different ideas but eventually whittled the list down to just four to five features that we held unanimous confidence in.
When carving out our niche segment, we ran into competitor issues since several big-technology companies operate in the same space, thereby stealing customers and convincing new users to side with them. To combat this, we decided to incorporate our unique product features to pursue a business-to-business strategy with retirement homes. By offering the much-needed hardware infrastructure as well as the software capabilities for retirement homes to run efficiently, we determined that we can provide a distinctive value proposition. As such, our group was able to center our pitch presentation around exactly this and complete an intuitive pitch deck.
Generally speaking, this pitch presentation and the previous assignments taught me a lot about a product manager’s role. The job’s inherently open-ended responsibilities gave me the opportunity to ideate, validate said ideas with customer interactions, assess go-to-market strategies, learn the process of acquiring letters of intent, and much more. Above all, I had the chance to work closely with teammates whom I had not known before. We were all able to interact efficiently, divide work accordingly, and listen to each others’ ideas. I definitely look forward to the upcoming projects and group assignments over these next few weeks.
