What Is VP Of Product Development?

In this article, we will tackle the VP of product development. Also, let us learn and know the benefits of VP product development.

Know About VP Of Product Development

A VP of product development is a member of the company’s executive leadership team. In which is in charge of the strategy and execution of the company’s product.

They must balance customer needs with cost-effectiveness. Also, provide a roadmap for growth.

VP of product development is one of the most crucial positions in any company. They are responsible for the successful delivery of products. 

They are accountable for shipping high-quality products to customers.

What Does VP Of Product Development Do?

VP of product development is responsible for understanding customer needs. Moreover, building a roadmap for launch, and working with cross-functional teams.

It is to make sure the product meets or exceeds market expectations. So the VP of product development must apply prescient thinking to make decisions about the following:

• product features
• innovation
• new products

Therefore, the decisions they make are crucial to the success of the business. Their job is to identify the right customer problem. 

Also, a product feature set and value proposition for their target audience. They work closely with product management team members.

It is to ensure that they deliver what they promised to the customer.

How To Hire A VP?

When it comes to hiring VP Product Development. So you need to identify you’re shortlisted of candidates based on their knowledge.

This is regarding new technology trends and market size. Then you have to conduct a series of interviews with your shortlisted candidates. 

So you should conduct phone interviews first followed by onsite interviews. Then, by inviting two or three candidates. 

Once you have selected your candidate, you have to share all your requirements with him/her. So that they can understand what your expectations are from them. 

Also, you should discuss all the necessary details about the position. So that, even if they don’t get selected they can improve their skills further for future job opportunities.

Benefits Of VP Product?

Now let us know the benefits of a VP development. So a VP of Product is directly responsible for delivering the Right Customer Value Proposition (RCVP).

It is through an intellectual framework called the “One Pivot” approach. This ensures that there is only one pivot every year (a release).

In which it delivers value (through features) at one or more pivots (customer problems). The VP of Product has overall responsibility.

It is for optimizing product portfolio performance through effective feature prioritization. Also, it is based on a strategic value proposition (through the One Pivot approach). 

So he/she is accountable for driving growth through large-scale innovation events. It includes designing programs that unlock breakthrough innovation.

Moreover, in areas such as new markets or disruptive technologies (for example AI). The VP of Product works closely with the Senior Leadership team.

It is to drive growth initiatives by bringing value to the customer. Also, it is through product innovation, which is in alignment with business strategy. 

He/she works with cross-functional teams to deliver the right product at the right time. So that it meets or exceeds market expectations.