Focus on specific target markets and feature sets, instead of trying to be everything to everyone

The Product Strategy must be at the centre of all product people’s work. It sets the direction for their product development, launch and key markets. However, many studies show that Product Strategy is not an area where product managers are confident in their own skills.

A study conducted by Nevico Product Management revealed that more than 70% of the respondents experienced that they do not actually have the tools and skills to create a sufficient and strong Product Strategy.

The Product Strategy development is often kicked off by the company’s yearly planning process or as a part of a strategic initiative. Product Management and other departments are asked to submit their plans a month or so in advance of the final target date. Discussion and negotiations typically continue for a period of time.

Product Strategy is about making conscious decisions about the actions to take and not to take, and how to balance the product portfolio. In short, this means outlining where you are now, establishing where you want to be in the future and then specifying the actions that will get you there.

Our product management strategists are capable individuals who will engage and work alongside your employees to create and implement a powerful, action-oriented Product Strategy that gets results and secures future winnings.