Value Exchange is Product Management

People often interchange the words product and proposition, but for me, they're quite different. Product is one element of the wider proposition. The proposition is the promise you're making to your customer, and the success of it is driven by the value exchange.

Dipesh Sanghrajka, Innovation Intrapreneur at Experian, talks about what it takes to drive change from within an organization while understanding both the customer and the competition. 

Proposition managers never work alone. As leaders of enterprise innovation, they are constantly looking outward and forward, using new data sources to drive change as part of a cross-functional corporate ecosystem.

Dipesh Sanghrajka has a deep understanding of these interdependencies, having spent the last two decades working in both product development and proposition development across industries including consumer electronics, telecommunications, and information services. 

“I get asked how different teams work together and I use the analogy of a book,” explains Dipesh. “A proposition manager is like the author; they write the story. The product manager creates the characters, which are often the product or the service. The marketing manager is the person who tells the story to the right people at the right time in the right place.” Together, these teams create a promise to customers that their solution will provide value.

When it comes to carrying through on these promises to customers, it’s crucial to create a balanced value exchange. A value exchange is considered balanced when ‘what a company gives’ equates to ‘what customers get’ from a product or service, taking into account both the rational needs and emotional wants of those customers. Striking the right balance between these forces is a key to successful product and proposition development.

In this episode, you’ll learn about the difference between product development and proposition development, the importance of having a balanced value exchange, and how to drive innovation and experimentation at large organizations.

Here are the highlights: 

Dipesh Sanghrajka

Innovation Intrapreneur, Experian

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