APPLIED LEARNING
Principles of Product Strategy
Become the business manager of your products.
Skills gap
Research reveals a substantial 59% disparity between the perception of product leaders regarding the significance of business and strategy skills and the actual competency level of their teams in these areas.
It's not that we have a poor strategy. It's that we don't seem to have a strategy at all. Or at least, that's what my team is telling me.
Sound familiar?
Prioritizing the flood of potential product ideas seems impossible.
Our competitors seem to be introducing more relevant and timely products.
Our product pipeline seems stagnant, with few promising new opportunities.
We're not effectively addressing emerging market trends or customer needs.
We're struggling to determine which ideas present the best opportunity for new products.
Become the business manager of your products.
This multi-week program guides your product leadership team through a series of working sessions to define and articulate your organization’s product strategy.
Manage the business of the product through its lifecycle.
Analyze the market and competition
Assess your product performance
Evaluate product strategy options
Validate in the market
Create the business case
Communicate the portfolio strategy
For
Head of product, portfolio managers, product managers
VIDEO
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Includes
Applied Learning
L-E-A-P: LEARN and discuss the current situation, EXTEND with a tool or method, APPLY to your product or market, and ensure adoption with a PEER REVIEW.
Course
Coaches
Steve Johnson
Grant Hunter
Agenda Topics
Analyze the Market Landscape
Analyze and understand the external factors impacting your product, specifically the market and competition. Together we'll review key sources of market insights and use the Market Canvas to summarize these external factors.
Assess Your Product Performance
Assess the performance of your product better understand its current state. In this lesson, we'll review many methods for assessing product performance and create a product status dashboard to help you visualize your product’s performance.
Define Your Product Strategy
Building from your understanding of the current state of the product, define (or re-define) your product strategy. Identify your strategic opportunities, the ideal target customer, your competitive differentiation, and how you will measure success in a Product Strategy Canvas.
Identify Strategic Options
Explore multiple ways to identify potential strategic initiatives including the Product-Persona matrix, Lifecycle vs Market Position, and Situational Growth Strategy Matrix.
Focus Your Strategic Initiatives
Having evaluated your potential strategic initiatives, you’re ready to focus on the best options. Use a repeatable process to help you focus your product strategy on the initiatives with the best chance of success.
Validate Your Product Strategy
Learn the importance of engaging with the market to validate your strategy. We'll review how to engage the market to validate your strategy and market potential, and get the data to help make the business case.
Get Strategic with Positioning
Start defining the strategic positioning for your product or initiative. Who is it for? What problems does it solve? Why is it different from alternatives? Learn the three keys to strategic, value-based positioning.
Make the Business Case
Learn key aspects of the business case including pricing, positioning, and financials. Building on these aspects, you will work on developing Objectives and Key Results for the strategy, and complete the business plan for your product.
Communicate Your Strategy
How do you communicate your strategy to executives and other stakeholders? We’ll look at the key deliverables in an executive overview including personas and their problems, roadmap and release plan, objectives and key results, and financials.
What's next?
Take the free Product Health Check which will give you suggestions for the next steps.
Want to learn more? Set up a video call with one of our coaches to see how our guidance can help you.
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