Creating a successful product requires attention to detail. From building a proper user experience and overall visual design, to providing the right functionality, and of course using the right technologies. With so much focus on the details, it’s easy to no longer see the bigger picture. This is where product strategy development comes in. It helps you manage your product proactively and it prevents you from getting lost in the details.
Product strategy development is about imagining the future of your product. What product will it ultimately become? Who will it benefit? Why would those people start using it? How will it create value? How will it stay relevant?
At its core, it’s a high-level plan that helps you realise your vision or overarching goal. More specifically, the product strategy should describe:
Finally, the product strategy provides input for the product roadmap. The roadmap (a) states how the strategy is going to be implemented and (b) describes how the product is likely to evolve over time. The two work in tandem, as the most successful products are constantly undergoing strategic reviews and realigning their roadmaps with company goals.
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