product strategy and management

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. your team will be in a better position to deliver their best work when you draft and communicate a clear and well-thought-out product strategy to your organization. developers can sometimes feel caught amongst all the details and lose sight of the overarching purpose behind all of their work, and a product strategy clarifies that for them. additionally, your customer success team will better understand your product’s use cases and provide better support for your users’ frustrations. hbspt.cta.load(3434168, ‘e24240ff-5561-48cb-abf8-f013f03926b4’, {}); after you’ve earned stakeholder agreement for your proposal, it will be time to translate that strategy into a high-level action plan. without a product strategy to guide these decisions, the team is more likely to prioritize the wrong items and find itself misusing its limited time and resources. no organization delivers a product to the market following the exact plan drafted in the initial roadmap.

things change along the way and product managers need to be prepared to adjust their plans and priorities to deal with those changes. a product vision (written as a product vision statement) describes the long-term mission for your product. for example, google’s early vision statement for its search engine was, “organize the world’s information and make it universally accessible and useful.” a product vision should lead to high-level strategic goals. examples of product goals include: using smart goals is the best approach to utilize when setting goals for your product strategy. initiatives are the strategic themes you derive from your product goals and then place on your roadmap. (the product roadmap is, after all, only the high-level blueprint.) examples of product initiatives include: after working with thousands of product managers across many industries over the years, we at productplan have found the following 5 steps represents a best practice for developing an effective product strategy.

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.

what is product strategy? learn more about product strategy and other product management terminology in our product strategy and management. offers a holistic discussion and explanation of this subject area and shows why it is fundamental to a firm’s competitiveness and its ultimate survival. it covers the entire product life cycle from new product development to elimination. all the time. you can read all the articles in our product management journal – strategy by signing up for free here., product strategies, product strategies, product focus strategy, product strategy pdf, product strategies in marketing. product strategy and management offers a holistic discussion and explanation of this subject area and shows why it is fundamental to a firm\’s competitiveness and its ultimate survival. it covers the entire product life cycle from new product development to elimination. google books

using purpose-built product management software like aha! allows you to link releases and features to initiatives and setting a product strategy, you can set the direction of your product efforts… 2010, from /publications/topics/08/how-to- make-product-management-strategic you can’t manage a product without a strategy. in this post you’ll know what a product strategy is, it’s importance, books on product management, developed the product vision board., product strategy framework, elements of product strategy, product strategy example pdf, product strategy ppt

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