A business is always on the wheels of expansion and improvement. Product management and agility to attain product internationalization, forms one of the basic strategies of any business expansion. In this module, Gerlando Alletto takes us through his experience and wisdom gracefully, to educate us on the challenges and the extensive process of Product and PM internationalization.
Meet Gerlando Alletto
A key product strategist, Gerlando Alletto is currently the MasterCard Director Product Manager. He has over 10 years experience of managing large cross-functional, multicultural & international teams in digital products and services. He is a specialist in Product Management, People Management & B2C and B2B2C Digital Products and Services.
Building International Products
Product managers are the interface between various functions and play a key role bridging technical, non-technical, internal and external teams.
What makes a Product Manager “International”?
It is not about the manager, it is all about the product here. Making the product go international, helps in transcending the PM to an international PM. Managing various products in multiple countries by default makes one an International Product Manager.
These days small businesses are equipped with tech and are informed about networking their business into a worldwide platform. Networking consists of interacting with regional Product Managers and market partners to spread the word of
Building a congenial relationship with the regional managers and partners helps in discussing the challenges and differences that surface locally in the area while marketing the product.
7 Factors that Contribute to Product Internationalization
Making a product international, is a tedious and challenging job. While there are many factors that contribute to internationalization, Gerlando goes into the most important factors.
1) Localization matters
Pricing the product considering the local economy and currency stands as an essential requirement. For instance, for a product in the UK, £999 might be considerable price, while it might weigh heavy in Italy. Hence, price positioning is important before finalizing on product marketing.
The local market provides the space for research before plunging into the market statistics. Some ‘unknown’ competitor might already be ruling a similar product in the market. Hence a pr
4) Market conditions
In order to network into the unknown countries, having a market partner from the local infrastructure is necessary. For example, the banking systems accepted and presented in a country might be entirely different from another. In wide cases, one bank that supports in a country will not be operating in another. Other operable variables like consumer behavior, internet availability,
A PM should be mindful of the
6) Distance & time zones
Time Zones play a very crucial role in Product Internationalization. Gerlando says that
Before launching a product, having a fundamental acquaintance of the country culture is necessary. Understanding the language and culture provides remarkable edge over the unlikely.
Building an MVP
After explaining the factors affecting the internationalization, Gerlando takes us through the process of building a Minimum Viable Product (MVP). He says that product internationalization is agile management. It structurally follows Build- measure-learn feedback loop:
While building the product, following factors are considered:
- Key localization
- Benchmark on competition
- Market conditions
- Available partnership
Measure basically includes measuring the customer acceptance progress. Some key points considered in this step are:
Learning is composed of two main concepts:
This is the crucial step. The feedback and criticism from customer drives the product towards betterment.
The speaker ends the session with a valuable quote from the CEO: “As a PM, you will be the advocate of customer”.