BANGALORE, INDIA: A product company must have a goal to make selling simple, says S.Satishkumar, Director- Product management, Xora Inc. According to him the company must shape the product functionality and value proposition so that the product sells itself. He shares his views with B.V. Shiva Shankar, Associate Editor, CIOL, in a chat.

CIOL: Turning marketing information into product requirements is the key to the successful business. What are the technological requirements to achieve this?

S Satishkumar: The goal is to make selling simple - by shaping the product functionality and value proposition such that the product sells itself. It's far more effective to identify problems and solve them using technology than it is to find customers for a technology.

CIOL: What role do you see for technology in collaborating product planning and product marketing?
SS: Understanding the technological changes that can impact your product, your customers and your competitors is important to continue succeeding in the market place. It's important to make sure that technology is applied to solve specific market needs.

CIOL: For whom do you think the product management is the most critical, producer or consumer?
SS: Product management can be deemed successful only if it's a win-win for both. The product should deliver value for the customer while providing an adequate ROI for the producer.

CIOL: Do you think the approaches for product enhancement and new product should be different? If yes, what should be the differentiator?
SS: There isn't a fundamental difference between the approaches for enhancing a product and creating a new product. However, the challenges are different. A clear understanding of market requirements is particularly essential before starting work on a new product and doing this correctly is a non-trivial task. Also, it's essential to make sure that the architectural framework allows for delivering a high quality product that adds value to the customer and allows for easily extending it in the future. Making enhancements cost efficiently becomes a lot easier if the original product is built in the right way.

CIOL: What is the main driver for product management, cost or quality?
SS: This cannot be a compromise that product management should be willing to make. Quality and cost are two sides of the same coin. A key contribution of product management should be to facilitate delivery of a high quality product at the appropriate cost.