Rocky Sharma, CEO of The Procurement School and a Stanford GSB alumnus, recently shared his insights on product management based on his experiences visiting Naples and trying various restaurants. Despite not being a fan of pizzas, Sharma learned valuable lessons about product innovation and customer segmentation during his time in Italy.
After experiencing limited food options in a new city and consuming pizza for every meal for three months, Sharma discovered the importance of catering to diverse customer segments. He realized the significance of user-friendly designs, intuitive pricing strategies, and the role of mentors in guiding product expansion and market reach.
During his visit to Naples, Sharma observed two establishments – the first being the birthplace of pizza and the second renowned for gelato and cappuccino. Despite both offering unique products with a local touch, each company had different growth strategies. The first establishment missed opportunities for expansion, while the second capitalized on their initial success to reach a broader customer base.
From a product management perspective, Sharma highlighted the importance of mentorship, market segmentation, and tailoring products to meet the needs of diverse customers. He emphasized the role of mentors in providing guidance and industry insights to help businesses expand their mission and reach new audiences.
Furthermore, Sharma pointed out that not every product needs to be large-scale or capital-intensive to be successful. While some businesses may choose to stay small and profitable, others may aim for growth and investor interest by offering scalable and innovative products that cater to a wider market.
By sharing unique stories and understanding customer preferences, companies can tailor their products to meet various customer segments’ needs. Sharma’s insights serve as a valuable resource for businesses looking to enhance their product management strategies and drive growth in competitive markets.
As the CEO of The Procurement School and a seasoned product management expert, Sharma’s experiences in Naples offer valuable insights into customer segmentation, market expansion, and product innovation strategies. By leveraging mentorship, tailoring products to diverse customer segments, and focusing on user-friendly designs, businesses can enhance their products’ success and customer satisfaction.
