Product Mindset - Goods, Services, and Platforms
Understanding Polymorphism in Product to Declutter Product Mindset
If you are following this Product Mindset series, then you already know that it is an effort to set some foundational product mindset elements right.👌As part of this series, I am covering some very basic but practical information crucial for any aspiring or new Product Manager to build and strengthen their Product Mindsets. 🤯
Below is the agenda/posts of this series:👇
What is a Product?
What are the elements of a Product?
Is it a Product, a Component, or a Feature?
Declutter Goods, Services, and Platforms
What is Product Management?
Are PLC, PDLC, and SDLC the same thing?
What is the relationship between Business, Portfolio, and Product?
How is the Product different from the Project and Product Manager from a Project Manager?
Who is a Product Manager and what does he/she do?
What is the confusion about the role of Product Manager and Product Owner?
More such topics to strengthen product mindset…
We have already defined the Product and analyzed it through its elements in earlier posts. We also demystified the concepts of Product, Component, and Feature. Read them 👆, if you have not done so yet. It will enable you to get more value from this post.
By now, you have already got a glimpse of how Product Mindset enables you to think differently. If that’s not true yet, then I am confident that this edition is going to do the job. 👍
Have you ever been confused in discussions where the argument sounds like this:
This is not a product, we offer services. So, we don’t need a product mindset and product management here.
Oh, no no no. This is not a product. This is a Platform. It’s different.
More such arguments, where someone will try to establish their offering as something different, and not a product.
Then you are on the right page. Let’s dig in. 💨
Polymorphism
I first came across the word Polymorphism when I started learning Object Oriented Programming concepts for C++ in my college days👦. It simply meant “Many Forms” and it was a fascinating concept🤯. Here is the dictionary meaning:
But why am I talking about Polymorphism now?😨
Because years later, today whenever I see confusion between goods, services, and platforms, it reminds me of Polymorphism.😇
Let’s say, if you use molten steel and pour it into 3 different shapes of mold, it will get into the shape of its respective mold. Let’s consider a knife, a park bench, and a piece of industrial heavy machinery. The application and the context of the use of those 3 objects will have massive variations. But, an expert and a critic 🧐 must know that despite their differences in application, they all are made of the same material and will follow the same rules of physics with the same physical properties.
Their application, value, impact, lifespan, etc. will be very different, depending on their current form and usage. But, wouldn’t it be sheer ignorance 😡 if someone does not recognize the common foundation of these 3 objects and decides to consider their physical treatment solely based on their appearance rather than also considering what they all are made up of i.e. steel?
Polymorphism in Product
You would have already guessed where am I going with this. 😜
Extending the same argument from the earlier section, a product can take many shapes and forms. Irrespective of its forms, it will maintain its core, and Product Mindset applies to it.🙌
It will still follow the earlier discussed product definition and elements. It will still be trying to solve a problem or leverage an opportunity, it will still be created with a specific target audience in mind and it will still have an intention of meeting its creator’s objectives to name a few foundational elements. 😎
Some organizations and professionals can still refuse to accept this and ignore the importance of a product mindset in their world. But by doing so they are doing a huge disservice to their business as well as their customers/users 😱. This approach could push their offering to be irrelevant, teams to be disengaged and the organization to become a feature factory at best. 😢
All of this is a defined and well-recognized anti-pattern in the current dynamic and innovative customer-centric business environment. If you are experiencing this in your product management journey, then I can help. 🙏
Just book a free session with me🗓️ to unlock your potential.🤝
So, getting back to the point, many would not like this elephant in the room. 🐘
A product can be in many different forms. It can be a physical good, a service, a platform, an API, a combination of many of these and other form that fit in the product definition discussed earlier.
So, from now onwards, always think of Polymorphism when you come across such confusion and also try to clarify it further so that we can declutter the Product Mindset together. 🖐️
The Goods-Services Continuum
We have already established that irrespective of its form, Goods, or Services, both are products. Product Mindset and other product management approaches have equal relevance and applicability in managing and growing the product further. There will be some differences in the approach we take on the product as per their form, but that variance will be often overshadowed by the core product management approaches.
The products in the form of goods or services that we experience in our day-to-day lives are sitting on an imaginary axis called The Goods-Services Continuum.
On the one end of this axis📈, we put pure goods that are highly tangible. On the other end, we put pure services, with no physical form at all. Anything that is not on the extreme ends of this axis will have a different mix of goods and services.
Food for thought🤔: Where would you put sugar, a laptop, a cup of coffee, teaching, or investment advisory on this Goods-Services Continuum?
As a product manager, this concept also allows you to apply the product elements and create a variety of product offerings and value propositions to woo 🥳 a different customer segment with a different business objective.
👍A Product can have the form of a good or service or a varied degree of mix of both to serve it’s target customer and you as a product manager with strong Product Mindset should be able to see through it and use it as part of your product strategy.
👍As a product manager you could be offering the same goods but by adding/differentiating the services associated with the goods you can hugely differentiate the value proposition, target segment, and business model to meet a different business objective.
Hakka Noodles 🍜- Where do you go for it?
To understand this concept further, let’s take a physical product - Hakka Noodles (bear with me 🤫 for a while, if you don’t like it). You can relish this dish anytime at your favorite food truck 🚛near your home. You can also drive 20 km to a 5-star restaurant 🏨 and get the same dish (of course with some variations in quality and taste) by paying at least 10X the amount and a reservation made 5 days in advance.
There are two questions:
🤔Where is the difference?
🤔What is the value for money?
If you put aside some obvious variations such as quality, taste, etc. at a goods level then the real differentiating factor is the services associated with this physical product. You will expect minimal (almost zero) service component at a food truck; but will expect a very high level of service at the 5-start restaurant. You will be paying a decent tip amount (depending on your overall satisfaction level from the overall experience) on top of the regular bill (which would already be 10X 💰the price you would have paid at the food truck).
So, the value of money is derived from the overall experience associated with the product as a whole and not just with the goods aspect of the product.
Platform - Let’s talk about Amazon
A discussion on Product is incomplete without Amazon. It has multiple product offerings e.g. Amazon shopping, AWS, AWS Professional Services and so many more.
Obvious statement: Amazon shopping🛒 is an e-commerce platform.
Product Mindset based obvious statement: Amazon shopping 🛒is a product offering from Amazon business in the form of an e-commerce platform for sellers and buyers.
We can add more details here but you get the point.
On the other hand, AWS is another huge portfolio of products for Amazon (More details on Business, Portfolio, etc. taxonomy is coming in a future edition of this Product Mindset series)
Within the AWS portfolio, they have a Product - AWS Professional Services. This product is sitting on the pure services side of the Goods-Services continuum. But it’s strategically positioned to support the adoption and growth of other product offerings from the AWS portfolio.
All the product management concepts and practices are very well applicable 🙂 to all forms of product. Yes, there could be additional adjustments in product managing an e-commerce product from a professional services product offering. However, a true and empowered product manager 😎 understands, applies, and educates their team and other stakeholders on the Product Mindset applicability to enhance product growth and acceptance.
More Polymorphism of Product
With so many examples and forms of a Product being elaborated, it should become easy to realize the applicability of Product Polymorphism.
Now, you should be easily able to identify API, SaaS, PaaS, IaaS, and more such offerings as true products. They are just in different forms and shapes as per their applicability, value, business objectives, target customers, etc (Think 6 elements).
At the risk of repeating myself for the 99th time 😵💫, as they are Products in different forms, hence product mindset and product management have an unchallenged applicability in their management and growth.
If someone disagrees with it, it’s a clear sign of a weak product mindset😢. So, they need more guidance and mentoring. This is the perfect moment to talk ☎️ to me directly.
Just book a free session with me🗓️ to unlock your potential.🤝
What’s in it for you?😍
Though these are just a few examples; it should become more and more clear to you that a Product has many forms and it’s all around us. Sometimes we easily identify and classify it as a Product, other times we stay in a state of confusion.
The confusion can be clarified very easily. It all depends on how we analyze it. What is the context in which we are talking about that product, etc?
So, the bottom line is 🖖
Now onwards whenever you get in the situation think of Product Polymorphism and apply the six elements framework with the foundational definition. It should be enough to give you all the clarity you need to declutter the Product Mindset and help you develop the ability to apply it.
Developing the skillset to identify, define, and position any product irrespective of its form is a definite sign of a strong product mindset. This should be your very first step to becoming a strong product manager in your product management journey.
👋 Signing off. In the meantime, I invite you to connect with me on LinkedIn.