The Product Strategy Cycle

Roman Pichler

Traditionally, strategy and execution are often viewed as separate, sequential pieces of work that are carried out by different people. For example, a product manager might determine the product strategy and one or more development teams might be tasked with executing it.

A Strategy Map

Roman Pichler

The map below shows the strategy tools I find helpful to make effective product strategy decisions. As the Strategy Map above shows, you should be aware of the overall business and product portfolio strategy in order to make the right strategic product decisions, as these provide the necessary context. The Strategy Map can help you check if you have any strategy blind spots. The post A Strategy Map appeared first on Roman Pichler.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Demystifying Product Strategy by Amy Zima

Mind the Product

In this November 2020 #mtpcon Digital session, Amy Zima, the Principal Product Manager at Spotify, aims to demystify the process involved in creating a strategy, offering a case study and sharing lessons learned. The word strategy can inspire fear or awe in product managers, says [.].

Good Strategy, Bad Strategy

Product Bookshelf

Good Strategy Bad Strategy: The Difference and Why It Matters by Richard Rumelt. The big idea: Strategy is not goal-setting, vision creation, or agreeing on principles and aspirations. With a good strategy, you can overcome the critical issues your product faces.

Testing at Every Stage of Development

Up to 80% of new products fail. The reality is harsh and the reasons why are endless. Perhaps the new product couldn’t oust a customer favorite. Maybe it looked great but was too hard to use. Or, despite being a superior product, the go-to-market strategy failed. There’s always a risk when building a new product, but you can hedge your bets by understanding exactly what your customers' expectations truly are at every step of the development process.

Bottom-Up Product Strategy – The State of Product, by Susana Lopes

Mind the Product

She starts by outlining several top-down methods for defining strategy, before diving into the bottom-up method called The State of [.]. The post Bottom-Up Product Strategy – The State of Product, by Susana Lopes appeared first on Mind the Product.

Dear Strategy 126: Testing Your Strategy

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “Is there a way to test your strategy prior to implementation?”. The post Dear Strategy 126: Testing Your Strategy appeared first on Dear Strategy.

Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. An effective product strategy process should ensure that a valid product strategy and an actionable product roadmap are always available—that a shared and valid approach to achieving product success is available at anytime, as the picture below illustrates. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. As helpful as it is to create a product strategy, it is not enough.

4 Ways to Level-up your Product Strategy

Mind the Product

Developing your product strategy and communicating your product roadmap is a continual improvement process. The post 4 Ways to Level-up your Product Strategy appeared first on Mind the Product.

Finding a Framework for Strategy Insights

Mind the Product

Having the right insights is a critical component in creating a strategy. While this is very obvious and widely mentioned in every piece of strategy advice, the truth is that there are no resources that detail how to generate them. The post Finding a Framework for Strategy Insights appeared first on Mind the Product. Business Strategy Guest Post Product Management Skills insights framework product management strategy matrix

The Connected Journey: Developing your Empathy to Strengthen Strategies for Customer Relations

Speaker: Esther Kieft, Delivery Manager (Group Technology) at Domino's Pizza Enterprises

It is well known that empathy is a key ingredient in creating lovable products, yet not all products offer the best customer experience. From meeting stringent deadlines to insufficient resources being available to carry out customer research, there is a range of reasons why customer empathy could be missing in product development. Join Esther Kieft, as she breaks down using empathy at a distance to evaluate the problems that customers are experiencing during this global health crisis.

Tips for Effective Product Strategy Reviews

Roman Pichler

Hold Regular Product Strategy Reviews. A product strategy , like any other plan, is subject to change. How changeable your strategy is, depends on your product’s life cycle stage. As long as your product hasn’t reached product-market fit, the strategy is usually volatile. Contrast this with a mature product , which tends to have a more stable product strategy. Make sure that you block the necessary time for product strategy reviews in your calendar.

Why Product People Should Care About Business Strategy

Roman Pichler

Business Strategy vs. Product Strategy. A business strategy describes how a company wants to achieve its overall aspiration and create value for its users, employees, and shareholders. It’s distinct from the product strategy : The business strategy states how the company will be successful, whereas the product strategy describes how a product will achieve success, as the following picture illustrates. Elements of an Effective Business Strategy.

Creating a Product Strategy – Is it Worth the Effort?

Proficientz

Is creating a product strategy worth the effort? Creating a product strategy isn’t easy for product managers. Make the exercise of creating a product strategy more about customer outcomes than product success and it becomes a pretty simple exercise.

Rediscover the Forgotten art of Product Strategy

Mind the Product

A strong product strategy is often neglected because of the absence of any strategic thinking in product teams. What can product managers do to make sure they give their product strategy the attention it warrants? Tanya shares her ideas for nurturing a strong product strategy from this year’s #mtpcon London Product Leadership Forum. Because product strategy – the foundation of any exceptional product work – is too often neglected. Agile is not a strategy.

How to Package and Price Embedded Analytics

struggle to integrate analytics into their products, business models, and pricing strategies in a way that meets a range of user. improper pricing strategies can have on today’s software. executives with the purpose-built pricing strategies they.

Is it Time to Rethink Your Analytics Strategy?

Mind the Product

The post Is it Time to Rethink Your Analytics Strategy? Advertising Feature As a product person, you know the value of analytics. Done right, these tools can enable your application to unlock a whole host of benefits for both you and users, especially when it is embedded.

Leading product strategy and execution

Lead on Purpose

There are many moving parts to product success, including understanding your market and the problems customers in the market face, … Continue reading → Leadership Product Management Team Building Trust collaboration discipline execution markets roadmap strategy success value

Testing Your Strategy

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “Is there a way to test your strategy prior to implementation?”. If you feel the need to test your strategy before you implement it, then you may be thinking about your strategy in the wrong way.

Product Strategy Lessons From Henry Ford

The Product Coalition

In our world, this would have been considered a great product strategy. If Ford’s strategy would have stayed at the highest level of “selling a car”, marketing could have only talked about the generic qualities of cars (get faster from one place to another, and don’t clean after your horse).

Ask the "Right" Questions: Your Analytics-Guided Product Strategy

Speaker: Yoav Yechiam, Founder and Head Instructor, productMBA

Analytics are highly important for product managers - and yet, analytic implementations often fail to actually help us. It's not the technology, and it's not the tactics. In most cases, it's our approach that's misguiding us! Analytics are there to answer important product questions, not just to collect data. How can we be mindful of our analytics so they enable us, rather than confine us? Join Yoav Yechiam, Founder and head instructor at productMBA, as he explains best practices for a data-guided strategy that helps product managers get to the "why" of their biggest product goals.

Dear Strategy 121: Ink Jet Cartridges and Other Captive Strategies

Dear Strategy

On this episode of Dear Strategy, we analyze the practice of charging as much for the ink jet cartridges as for the printer itself. It’s called “captive pricing” and, just as the name implies it’s a strategy that’s not exactly designed with the customer in mind!

Dear Strategy 120: Strategic Trapdoors

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “What are the most important traps and/or disruptions to implementing a strategy?”. The post Dear Strategy 120: Strategic Trapdoors appeared first on Dear Strategy.

Dear Strategy 118: I Have A Strategy… Now What?

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “What is the next step once you have a strategy?”. If you’re interested in having Strategy Generation Company deliver a strategy workshop for your business, please visit us at [link].

Shifting Markets, Shifting Strategy: Three Considerations

Proficientz

Shifting markets usually constitute a shift in product strategy for most organizations. In either case, there are three key aspects of product strategy that matter most. Portfolio & Product Strategy. When the market experiences a sudden shift, the worst of all possible product strategies is a smattering of incremental enhancements across all products. Contact us to facilitate your next strategy meeting.

Measure the Immeasurable: Beyond Vanity Metrics

Speaker: Sari Harrison, Product Management Instructor, Product School

As a product manager, it's your job to realize your product’s vision by executing your chosen strategy. It’s also your job to deliver value to the business. Ultimately, these two outcomes are aligned so the temptation is to focus primarily on business metrics. Doing this can cause you to lose focus on the real value you are trying to achieve, in favor of moving the vanity metrics such as launches and time spent. Join Sari Harrison, Product Management Instructor at Product School, as she explains how to use immeasurable success criteria along with your more standard KPIs to deliver products that don't just get used a lot, but deliver real value.

Plan Product Strategy from Business’ Angle

The Product Coalition

How should we plan product strategy so that each component/feature/function is moving towards the same direction, and they interact with each other to create synergies and cohesiveness? How should we plan product strategy so that it’s aligned with business direction, not only at the product feature level, but also at organizational structure and operational process level? In August 2020, I shared the “Plan Product Strategy from Business’ Angle” in a webinar organized by ???

You Need A Product Strategy by Sam Odio

Mind the Product

Shipping product to 500 million users without knowing what strategy was? In this ProductTank San Francisco talk, Sam, now with that experience behind him and as Head of Product at Fivestars , outlines: What a good product strategy looks like. How to create a good strategy. What Is Good Strategy? When you look at different frameworks for defining a product strategy there are so many possible definitions. Creating a new product strategy can take years.

How to Create a Product Strategy Without a Clear Company Strategy

Mind the Product

Having “no company strategy” is one of the biggest issues facing product managers, according to a recent survey of over 600 product people. We were successful in “selling” our vision and strategy, and were allocated funds to deliver it. The post How to Create a Product Strategy Without a Clear Company Strategy appeared first on Mind the Product.

Dear Strategy 125: Same Product, Different Brands

Dear Strategy

On this episode of Dear Strategy, we analyze the practice of offering the same basic product across several different brands – especially when some of those brands are positioned as premium and some are – well – not!

Why Conversational AI Is Key to Customer Service in the Customer Experience Era

In today’s hyper-competitive market, every business must become a customer experience-first business. Customer satisfaction has become more important than price or any individual feature. Read the new Tractica white paper to learn how important conversational AI is to your CX strategy.

Product Pricing (3/4): Strategy

The Product Coalition

3 Must-Know Pricing Strategies and the Inputs to Drive Them Continue reading on ProductCoalition.com ». product-marketing pricing pricing-strategy marketing product-management

Lucia Adams on Burnout: the Signs, Symptoms, and Strategies

Mind the Product

The post Lucia Adams on Burnout: the Signs, Symptoms, and Strategies appeared first on Mind the Product. Lucia Adams knows a lot about burnout: she’s not afraid to admit that she once fell victim to it.

Product Strategy and Skill Development: Learnings from the #mtpcon Session Speakers

Mind the Product

In this first, Breakout Session release from #mtpcon Digital 2020, you can delve into four of the event’s deep-dive sessions focusing on product strategy and skill development.

Product Strategy, the Missing Link by Nicholas Goubert

Mind the Product

It may be obvious, but defining your strategy, goals, and mission is something we all need to have rooted at the heart of everything we do – but it’s very easy to get pulled in countless different directions while we try to deliver against these. It’s not just that “business as usual” gets in the way, changes to an organisation’s executive groups and tweaks to the company vision can lead to disconnects between strategy and tactics.

Indistractable: How to Control Your Attention and Choose Your Life with Nir Eyal

Speaker: Nir Eyal

Ever get the feeling the world is full of too many distractions? Research shows the ability to stay focused is a competitive advantage, in work and in life. However, in an age of ever-increasing demands on our attention how do we stay productive and stay sane? In this webinar, Nir provides research-backed, practical advice, and memorable strategies for managing distraction and our time. Nir Eyal shares findings of his five years of research into how to master what he calls, "the skill of the century," the power to be "Indistractable."

Dear Strategy 111: Rethinking Airline Strategies

Dear Strategy

On this episode of Dear Strategy, we analyze an airline story involving a cancelled flight, a premium seat, and a not so premium re-booking experience. But now, more than ever, airlines may need to start re-thinking their strategies – especially with respect to how they’ve been treating their customers. If you’re interested in having Strategy Generation Company deliver a strategy workshop for your business, please visit us at [link].

Global Product Strategy by Mel McVeigh

Mind the Product

In her ProductTank London talk, Mel takes us through how to create a global product strategy. She focuses on the following key points: Strategy. Strategy. She needed to combine the product and technology from each company and align the customer strategy by placing multiple business models on one tech stack. It also helps to adapt your strategy to a specific context. The post Global Product Strategy by Mel McVeigh appeared first on Mind the Product.

What is Good Product Strategy?

Melissa Perri

“What is your Product Strategy? YOU NEED A STRATEGY.” This didn’t sit well with the CTO because in reality he didn’t want a strategy, he wanted a plan. This is the way we were taught to think about Product Strategy. Most companies fall into the trap of thinking about Product Strategy as a plan to build certain features and capabilities. This isn’t a strategy, this is a plan. Product Strategy emerges from experimentation towards a goal.

Dear Strategy 123: Subscriptions, Subscriptions, Subscriptions

Dear Strategy

On this episode of Dear Strategy, we analyze the practice of turning almost everything into a subscription! If you’re interested in having Strategy Generation Company deliver a strategy workshop for your business, please visit us at [link].

To Build or Not to Build: Creating Great Products and Avoiding Overengineering

Speaker: Mark Ridley, Owner and Founder, Ridley Industries

To build, or not to build: that is the question. Join Mark Ridley, Owner and Founder of Ridley Industries, as he illustrates why, in most cases, actually building software should be the last avenue that companies explore to deliver great products. He'll explore why product development should be driven by a deep understanding of the customer's needs, their propensity to pay for a service and how much it will cost to deliver and share share strategies to avoid the problems caused by rebuilding features that are already delivered by existing services.