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The purpose of this guide is to summarize the basic steps in the formulation of a strategy for your product or product line.
This Product Strategy guide will help you answer three vital questions to a product strategy:
- How has the product performed thus far? (Situational Analysis)
- What is its envisioned market position? (Synthesis)
- What can be done to achieve that vision? (Future)
A finalized strategy should then be tied back to the Product Management Lifecycle so as to execute the strategy through the customary product workstreams and processes.
With the logic and flow of this product strategy formulation process, you will learn the key practices that form the foundation of a product strategy and a repeatable method to assemble a product strategy presentation.