Productize

From CEOpedia | Management online

Productize means to take something from pieces, work on it, test, and finally end with product that is marketed. It is though not the same as production of goods and services. Productization doesn't need a tangible product of service. It is rather based on knowledge assets that are converted into products, e.g. learning meterials, consulting, training, etc.

Productized services are often based on subscription models. In this day and age productize is the first step of starting a company based on knowledge. Someone can create idea of service, then create start-up and then grow the company.

Typical jobs related to productization are:

  • content creation,
  • audio and video editing,
  • marketing optimization services,
  • food and drink delivery,
  • lead generation,
  • finance and accounting services,
  • support services,
  • public relations and media services,
  • coaching.

Content creation

Action to create a new, sensible issue.

Audio and video editing

Such systems use metadata created in a central location for shared use by connected users, or to increase user satisfaction with available program content in each user's location.

For automatic and manual identification and determination of programming segments are used these mechanisms:

  • associating descriptive metadata which the identifield segments
  • the use of customer locations through the dissemination of metadata
  • using the supplied metadata in order to selective recording and playback programming [1]

Marketing optimization services

Stages:

  • measurement of empirical performance
  • calculation of theoretical efficiency
  • presenting the customer with forecasted savings and fee structure
  • real performance measurement
  • comparison of energy consumption after implementation with use before implementation[2]

Food and drink delivery

Delivery of goods or products in the form of food and drinks to a specific place within a specified time.

Lead generation

It is a method to attract potential customers. Identifies and extracts prospect identifiers from the purchase indicators which represent the potential future purchase by a potential customer[3].

Finance and accounting services

Conducting business activity within the meaning of the provisions on the freedom of economic activity consisting in the provision of financial and accounting services.

They include:

  • valuation of assets and liabilities and determining the financial result
  • preparation of financial statements
  • on the basis of accounting evidence, account books, including records of events in chronological and systematic order
  • periodic determination or checking by the inventory of the actual state of assets and liabilities
  • collection and storage of accounting documents and other documentation provided for by law
  • giving research and announcing financial statements in cases provided for in the Accounting Act

Support services

Improvement of business efficiency through support in the coordination of activities at the interface between business and technology-supporting services.

Public relations and media services

Public relations is often referred to as relationship management. It is understood as a continuous process and mutual exchange between the organization and its key recipients[4].

Media Servies is improvement of business efficiency through support in the coordination of media services.

Coaching

It is an invaluable, developmental and reflective model in the field of psychology and humanities.

Examples of Productize

  • Software: Software productization is the process of taking existing software components and integrating them into a single product. This can involve combining existing pieces of code and creating a user interface, or creating a completely new product from scratch.
  • Consulting: Productization in the consulting world is taking the knowledge and skills of a consultant and creating packages of services and/or products that can be sold to clients.
  • Training: Productization in the training world is taking the knowledge and skills of a trainer and creating packages of services and/or products that can be sold to clients.
  • Online Courses: Productization in the online course world is taking existing content and creating an online course that can be sold to students.
  • Books: Productization in the book world is taking existing content and creating a book that can be sold to readers.

Advantages of Productize

Productizing has many advantages, including:

  • Greater Efficiency: Productizing allows for greater efficiency and scalability in production, leading to lower costs and increased profitability.
  • Improved Quality: Productizing leads to higher quality products and services, as processes and procedures are standardized, ensuring that consistent results are achieved each time.
  • Increased Customer Satisfaction: Productizing helps to create a better customer experience by providing customers with a consistent set of products and services.
  • Reduced Time to Market: Productizing reduces the time it takes to get products and services to market, allowing companies to quickly respond to customer demands.
  • Reduced Risk: Productizing helps to reduce the risk of failure, as the process is well-defined and the results are predictable.
  • Increased Profitability: Productizing leads to increased profitability, as costs are reduced and revenues are increased.

Limitations of Productize

Productization has several limitations, including:

  • It requires expertise in specific areas to develop products and services.
  • It can be time consuming and expensive to develop products and services.
  • It is difficult to predict customer demand for products and services before productizing them.
  • It can be difficult to differentiate one's product from others in the marketplace.
  • Productizing a service can be challenging, as services are intangible and customers often require personalized attention.
  • It can be difficult to scale productized services to meet the needs of a larger customer base.
  • Productized services often require significant marketing and branding efforts to be successful.

Other approaches related to Productize

Productize can also mean creating a system or process that can be broken down into a series of repeatable steps that can be repeated to produce a desired outcome. This could include the development of a product or service, the creation of a process or procedure, or the development of a product roadmap. Other approaches related to productization include:

  • Design Thinking: This is a creative process that involves understanding user needs and design solutions to meet those needs. It involves brainstorming, prototyping, and testing with real users.
  • Agile methodology: Agile is an iterative approach to software development that focuses on delivering high-quality products quickly and efficiently. It involves collaboration between developers, designers, and stakeholders.
  • Lean methodology: Lean is an approach to product development that focuses on eliminating waste and streamlining processes. It involves continuous improvement and customer feedback.

In summary, productization is the process of taking pieces of information and turning them into a tangible product or service. Other approaches related to productization include design thinking, agile methodology, and lean methodology.


Productize — recommended articles
Innovation process — Quality — Core process — Lean product development — Business process reengineering — R&D project — ISO 9001 — Internal benchmarking — Support process

References

Footnotes

  1. ↑ Logan J. And other. 2000
  2. ↑ Higgins R. 2002
  3. ↑ Wilkins J.K., Zoken J.M. 1999
  4. ↑ Ledingham J.A., Bruning S.D. 1998

Author: Anna Zuwała

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