and because inspiration—or your muse, or the lightbulb moment, or whatever you want to call it—makes a terribly unpredictable partner, you can’t count on it as the sole source of your product strategy. but you should have some sort of defined approach to developing a winning product strategy. yes, a talented and experienced product manager who has studied the market probably has some great ideas about where to take their company’s product. there are actually three important benefits to starting with a high-level product vision and then working your way strategically down into the details.
after you’ve established a big-picture vision for your product, the next step in your plan should be to use that vision to determine a series of high-level objectives, specific things you want your product to accomplish. how can you tie your decisions about epics, themes, and other initiatives back to the product goals you outlined in the previous step? i suggest you use a weighted-scoring model for the initiatives you’re considering adding to the product roadmap. that solid plan, the one you’ve strategically established, is not going to be the exact route your product development process follows. so our final piece of advice for creating a winning product strategy is to periodically review the product vision and strategy you decided on early in your planning.
product strategy defines what you want to achieve, provides context around the market that you operate in, and guides the large themes of work that will help you accomplish your goals. done well, you will be able to tie every feature back to a larger goal — so your work adds real value to customers and the business. this is where you visualize your strategic direction and tie it to business models and positioning templates — all of which strengthen your product roadmap. grappling with these questions allows you to understand the true value of your product and to craft a vision statement that is both accurate and aspirational. models are useful when you launch a new product or want to evolve your strategy as the market changes. it helps define where your product fits in the marketplace and the unique benefits you provide. you need to deeply understand your customers and what they need in order to build a product they will love.
creating user personas is one way to develop empathy for your customers — you document their likes and dislikes, professional aspirations, challenges, and more. competitive research should be an ongoing process — keeping up with the competitive landscape allows you to discover new problems that your product is uniquely positioned to solve. this is the time to lay out the goals and key initiatives that will help you realize your vision. a useful exercise is to plot goals on a chart based on the depth of investment (to your team) and the impact (to your customers). initiatives are the high-level efforts or big themes of work that need to be implemented to achieve your goals. vision, business models, positioning, personas, competitors, goals, and initiatives — all these elements serve as the groundwork for your product strategy. allows you to link releases and features to initiatives and goals — so you can turn your plans into reality.
1. go talk to your prospects before defining your product strategy. 2. develop a high-level product vision before mapping introduction to product strategy. product strategy defines what you want to achieve, provides context around the market that you operate in, and guides the large themes of work that will help you accomplish your goals. a goal-first approach is a product manager’s best path towards innovation. a product strategy outlines a company’s strategic vision for its product offerings by stating where the products are going, how they will get there and why they will succeed. the product strategy enables you to focus on a specific target market and feature set, instead of trying to be everything to everyone., product strategy framework, product strategy framework, elements of product strategy, types of product strategy, product strategy template. a product strategy is a high-level plan describing what a business hopes to accomplish with its product, and how it plans to do so. product strategy defines what your product should achieve and how that supports the organisation, and is brought to life through the product road map.
the class has bought in on validation before building, a focus on problems, and defined metrics. they can see the value, your product strategy is the roadmap that’s used to develop your product or feature. when defining the market vision, nike focused on what its research team called “natural product strategy is about imagining the future of your product: what product will it become? who will it,
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