Top Trends in Product Management this Week!

Here are this week's top 5 product management trends you should know of! Let’s kick off.

1. Vitamin or a Pill?

In product management, a "vitamin" refers to a nice-to-have feature or enhancement. It may add value and improve the user experience, but it is not a critical component of the product's core functionality or value proposition.

A "pill" refers to a must-have feature or enhancement that is essential to the product's core functionality or value proposition. It addresses critical user needs and is a key differentiator for the product in the market.

Tip: Use the Value Proposition Canvas to assess if your product is a vitamin or pill.

2. Sustainability & Green Products

Increasing awareness of environmental issues has led to a focus on sustainable product development and green initiatives in many industries.

This is crucial specifically for physical products. Surprisingly, it is for digital products too! How you wonder?

Where do you think all your data is stored? Well, it is primarily stored in physical data centers!

Tip: Build low data-consuming digital products. Physical products should consider eco-design principles.

3. AI & Machine Learning Integrations

Did you notice how even Google introduced its AI search?

Well, it’s the trend that’s set. It all started with ChatGPT! Not like AI and machine learning didn’t exist before ChatGPT.

But it definitely was a ground-breaking innovation in the AI world.

Artificial Intelligence (AI) and Machine Learning (ML) can enhance product capabilities, from personalized recommendations to predictive analytics, and much more.

Tip: Identify areas why and where you can integrate artificial intelligence into your product. Will it help generate more revenue, or will it make deliveries faster? Ask questions.

4. Laser-focused Product Visions & Strategies

Laser-focusing product visions and strategies involve honing in on a clear and concise direction for the product, identifying the most critical objectives, and aligning the entire team around a common goal.

It comes by setting targeted goals by simplifying complexity.

This helps in more accessible communication of goals, prioritization of key features, and progress measurement.

Tip: Define the core purpose of your product and identify the right target audience to laser-focus your product vision and goals. Make use of the SMART framework to be specific as possible.