Product Strategy - Product Strategy Essentials
6 important questions on Product Strategy - Product Strategy Essentials
What is basically a product vision?
- high-level descriptions of a product concept (What is it?How can the product satisfy the needs of potential customers better than competition?)
- and a business model (How can the product be built, sold and supported in a profitable way?)
What is included in the product definition?
- functional scope
- quality scope
- intended use and users
- user experience (UX) design scope
- complete set of components that determine the offering
What items are included in the target market, potential segments?
- Scope, size, competitive products and their market shares
- International markets and their opportunities
- Segmentation
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What items are included in Product positioning?
- Value definition (from a customer perspective)
- Focus with regard to target market and segments, company product portfolio, and product life cycle phase (e.g. revitalization)
- Channel options
- Required partnership and alliances
What is included in the Delivery model and Service Strategy?
- Licensed product vs service offering (e.g. Saas)
- Standard product vs customizable product
- Packaging (shrink-wrapped, download, combination with services etc.)
- Services that are part of the total offering
What elements are described under sourcing?
- Options and their pros and cons
- Make or buy decisions
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
