Application of Generative AI in Product Management

Persona is basically a semi-fictional character that illustrates the behaviour or need of the individual that will form our target audience as to what age group that person is from, what is the demography, what are their pain points or challenges, what is their purchasing power, what are their satisfaction requirements and so on. Product managers can tailor make their product based on the target persona. So persona identification is important in a way to define your product offerings. Those who have been associated with a product or business would know that we create a persona and identify needs. So persona used can be created by both manual or Generative AI processes. Generally, as product managers, we identify who the person is, what is the essential tasks they do, what are their different pain points, what are the barriers for them to buy our product, and what are their aspirations. So identifying buyer persona would help us in terms of defining and crafting our offerings in a more innovative way. 

Identifying a persona can be challenging because you need a lot of data and assessment research, you need to speak to a lot of people, carry out the feedback mechanism, carry out the market research and so on. Generative AI can also be utilized for this process. 

Speaking of a buyer persona, there are a few key points to be considered- Who is the buyer, what does he buy, where does he buy from, style of purchase, past history, hobbies and lifestyle. This requires thorough research. Product managers can keep on refining these buyer personas as well. 

Hyper personalization is targeting the exact user base that helps you optimize your campaign life cycle. Product managers need to have details of what are the devices used and what are the search engines that the customer is targeting. Data collection is then ingested into the CRM system. E-commerce sites are used to ingest the data in data engines. What it gives in turns is we can cross-sell or upsell the same customer additional products or supplement products that the customer does not potentially realize we would be requiring.

1. Taskade 

There is a tool called Taskade that can give you a go-to-market plan. So market research, product positioning, pricing strategy, sales and distribution strategy, market and promotions strategy, and product launch strategy, all are aspects that you can add to your board. You can define further subtasks in it, assign it to your team, track your progress, set up calendars etc. You can ask further queries in terms of -creating a plan for designing and campaign, for social media marketing campaign. You don’t need to put everything by yourself. You can get a starting point, of course, you can refine it, and you can further work on it to enhance it by either prompt or manually. It also saves time. 

2. Anyword

It is a platform that creates text on the go and you can create it to manage your social media. It has other use cases as well. You can create product descriptions, and product titles, and create an appealing information page for Amazon Flipkart or any other e-commerce site. You can assess the click-through rate to the products or postings you have done through the tool. So that way it comes in very handy, you don’t need to write all those textual inputs by yourself. It gives you a very good starting point. It comes with features like content improvement, social media post writing, ad creations, landing pages, emails, product listings, or general writing. 

3. Adobe Firefly

In Adobe Firefly, you have to define what you are looking for. It will generate creative images. Based on responsive AI, it also has a tag or metadata attached to it that helps us control the usage or fair usage of the content. You cannot use somebody else’s pictures in the backend because it will still have those metadata tags.

Hence, generative AI is a groundbreaking technology that can change the way product management works in the evolving market. It can help product managers in various ways, ranging from understanding customer personas, market analysis, market segmentation and analyzing the competitive landscape of their products. By strategically utilizing the power of generative AI, companies can make better product decisions and drive product success, shaping the future of product management in the coming future.