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My Product Strategy Model

Roman Pichler

Listen to the audio version of this article: [link] Download file | Play in new window | Duration: 10:10 | Recorded on September 13, 2022. An effective product strategy is key to successfully create, enhance, and manage a product. But what exactly is a product strategy? Figure 1: My Product Strategy Model.

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What Exactly is a Product Strategy?

Roman Pichler

Listen to the audio version of this article: [link] What Information Should a Product Strategy Provide? I like to think of the product strategy as a high-level plan that helps you realise your vision and that answers the following four questions: Who is the product for?

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Six Qualities of a Great Product Vision

Roman Pichler

An inspiring vision creates a meaningful purpose for everyone involved in making the product a success including the stakeholders and development team members. It also allows you, as the person in charge of the product, to understand if dedicating your time and energy to the offering is worthwhile and sustainable.

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Double Vision: Choosing the Right Approach to Capture the Product Vision

Roman Pichler

Listen to the audio version of this article: [link] Option 1: The Vision Captures Strategic Decisions Your first option is to view the product vision as a statement that captures strategic decisions like the product’s users and customers, its value proposition, and its standout features.

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Common Product Vision Board Mistakes

Roman Pichler

This article assumes that you are familiar with the product vision board or the key elements of a product strategy : market, value proposition, standout features, and business goals. Vision Captures Product Idea or Business Objective. Additionally, such a vision is hardly inspiring.

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10 Product Strategy Mistakes to Avoid

Roman Pichler

Listen to the audio version of this article: [link] 1 No Strategy The first and most crucial mistake is to have no product strategy at all. When that’s the case, a product is usually progressed based on the features requested by the users and stakeholders. The strategy is therefore either too big or too narrow.

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Maximising Stakeholder Buy-in to Product Strategy and Product Roadmap

Roman Pichler

Keep the other groups in Figure 1 informed about changes in the product strategy and product roadmap , for example, by inviting subjects to bigger review/demo sessions and having one-on-ones with context setters. A better way is to co-create the product strategy and roadmap with the key stakeholders.

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