“A business unit needs to decide what need it aims to satisfy in what group of people and with what value proposition that distinguishes the business from its competitors.” — Philip Kotler
Your product cannot be all things to all people.
https://t.co/kD8cYlgZQz
“Never write a line of code or produce a product until you have confirmation of buyer intent.” – Steve Johnson
Product management is really a risk management role
#productmanagement#productstrategy
Learn more in our eBook.
https://t.co/nuRiPnAR8S
“If you have more than three priorities, then you don’t have any.” – Jim Collins
You can’t do everything. Which is the one idea you want to move forward?
#productmanagement#productstrategy
Learn more in our eBook.
https://t.co/li1l6aiTAw
“[Focus] means saying no to the hundred other good ideas that there are.”—Steve Jobs
Determining which initiatives to focus on is a critical process. Brainstorm your strategic options.
#productmanagement#productstrategy
Learn more in our eBook.
https://t.co/SqEeQOjrtR
“To connect strategy to execution, you need good product management.” –Grant Hunter
The insights from your assessments and research inform your product strategy.
#productmanagement#productstrategy
Learn more in our eBook.
https://t.co/sX8xGIQeNe
“Metrics can tell you what has happened—if you can understand what they’re telling you.” –Steve Johnson
Balance your understanding of the market landscape with a product performance assessment.
#productmanagement#productstrategy
Learn more in our eBook.
https://t.co/fzAJCD94O2
“If you know the enemy and know yourself, you need not fear the result of a hundred battles.” – Sun Tzu
Any strategy needs to be grounded in strong knowledge of the current situation. Product strategy is no different.
Learn more in our eBook.
https://t.co/kM5NdMnQGO
Product strategy requires you to
1. Analyze the market
2. Assess your product
3. Define your strategy
4. Identify initiatives
5. Focus your initiatives
6. Validate your strategy
7. Position your product
8. Make the business case
9. Communicate the strategy
https://t.co/qvKYSeu8g8
Product strategy is a process, not a template.
Good strategy requires clarity on which market you serve, the problems your personas experience, and the positioning of your solution in a context that connects directly to the customer problem.
https://t.co/tLGnvTmOe6
Why do we waste so much time on low value activities (low value for our market and low value for our company)? Stop working on those!
Read our newsletter for more, including a new PGL tool: Value Creation Matrix
https://t.co/a669bTllCq
Many thought-leaders offer their insights on product strategy in the form of fill-in-the-blanks templates.
The reality: there is a lot of work to be done to make these templates valuable to your company and products.
#productmanagement
https://t.co/zPyaWL9u0K
@vtweets Thanks for sharing! We would love to hear what you thought.
This book is the basis for our Principles of Product Strategy course that we are launching as a public cohort on September 20. More details and register here: https://t.co/rZBJKIGm4x
This week's #productmanagement#TopicoftheWeek question:
What is the most effective way to get leadership to commit to new initiatives (market or product)?
Go to the @PGLteam Community to share your thoughts
https://t.co/SWAs63wYs7
Grant Hunter on the need to be market driven. He leverages sage advice from Peter Drucker "management must make a conscious effort to get honest answers from the consumer himself rather than attempt to read his mind.” #prodmgmt https://t.co/VM3jee6GeM
Grant Hunter on the critical role customer visits play in building effective strategies. Grant emphasizes the importance of speaking with customers, prospects, and even companies that are buying from your competitors. https://t.co/gwVGGKpUVh