What is involved in Product strategy

Find out what the related areas are that Product strategy connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Product strategy thinking-frame.

How far is your company on its Product strategy journey?

Take this short survey to gauge your organization’s progress toward Product strategy leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.

To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.

Start the Checklist

Below you will find a quick checklist designed to help you think about which Product strategy related domains to cover and 63 essential critical questions to check off in that domain.

The following domains are covered:

Product strategy, Amazon Standard Identification Number, Concept testing, Design strategy, Marketing, New product development, Product design, Product differentiation, Product life-cycle management, Profit margin, SWOT analysis, Strategic planning, Value chain:

Product strategy Critical Criteria:

Have a meeting on Product strategy results and gather practices for scaling Product strategy.

– How do you incorporate cycle time, productivity, cost control, and other efficiency and effectiveness factors into these Product strategy processes?

– How do we make it meaningful in connecting Product strategy with what users do day-to-day?

– What is the purpose of Product strategy in relation to the mission?

– How well does the product fit with our product strategy?

Amazon Standard Identification Number Critical Criteria:

Explore Amazon Standard Identification Number decisions and transcribe Amazon Standard Identification Number as tomorrows backbone for success.

– What tools do you use once you have decided on a Product strategy strategy and more importantly how do you choose?

– Are we making progress? and are we making progress as Product strategy leaders?

Concept testing Critical Criteria:

Understand Concept testing tactics and ask what if.

– What are your current levels and trends in key measures or indicators of Product strategy product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?

– How does the organization define, manage, and improve its Product strategy processes?

– How do we go about Comparing Product strategy approaches/solutions?

Design strategy Critical Criteria:

Be responsible for Design strategy decisions and finalize specific methods for Design strategy acceptance.

– Think about the functions involved in your Product strategy project. what processes flow from these functions?

– Does Product strategy create potential expectations in other areas that need to be recognized and considered?

– How would one define Product strategy leadership?

Marketing Critical Criteria:

Investigate Marketing tasks and develop and take control of the Marketing initiative.

– What are 3rd party licenses integrated with the current CRM, for example Email Marketing, Travel Planner, e-newsletter, search engine, surveys, reporting/trend analysis, e-Commerce, etc.?

– Some measurement of efficiency is better than no measurement of it. if you do not know the cpm how can you justify the expense of using one medium or vehicle versus another?

– What are 3rd party licenses integrated, for example Email Marketing, Travel Planner, e-newsletter, search engine, surveys, reporting/trend analysis, e-Commerce, etc.?

– What are the objectives of our campaign as they relate to brand awareness, knowledge and interest, favorable attitudes and image, and purchase intentions?

– What people, activities, organizations and media can have the most effect on determining the target audiences receptivity to csm products?

– What instore sales drivers do you need to focus on in order to take advantage of the evolution to shopper marketing?

– If you are in doubt about a particular event and it will require a significant expense, why not test it?

– What are the key reasons for integrating your email marketing system with your CRM?

– What will be the geographical allocation of the media budget and why?

– Which kinds of advertising in which media influence you the most?

– Is it broadening the reach of your message to new audiences?

– Message – what are the specific messages to be communicated?

– Who is the target audience for this advertising message?

– What potential problems may complicate test marketing?

– In what way(s) did marketing research help shape CRM?

– What audience(s) should we be targeting?

– Does relationship marketing age well?

– Who buys the product or service?

New product development Critical Criteria:

Graph New product development issues and innovate what needs to be done with New product development.

– A dramatic step toward becoming a learning organization is to appoint a chief training officer (CTO) or a chief learning officer (CLO). Many organizations claim to value Human Resources, but how many have a Human Resources representative involved in discussions about research and development commercialization, new product development, the strategic vision of the company, or increasing shareholder value?

– What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Product strategy?

– In a project to restructure Product strategy outcomes, which stakeholders would you involve?

– Project type: what percent of resources should go to new product developments?

– Which step in new product development you think is the most important?

– What are the steps in the new product development process?

– How can new product development be sped up?

Product design Critical Criteria:

Discuss Product design management and optimize Product design leadership as a key to advancement.

– Does Product strategy include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist?

– To what extent has the product architecture and overall product design been developed?

– Are there recognized Product strategy problems?

Product differentiation Critical Criteria:

Contribute to Product differentiation tactics and inform on and uncover unspoken needs and breakthrough Product differentiation results.

– How do senior leaders actions reflect a commitment to the organizations Product strategy values?

– Is there a Product strategy Communication plan covering who needs to get what information when?

– How do we know that any Product strategy analysis is complete and comprehensive?

Product life-cycle management Critical Criteria:

Analyze Product life-cycle management quality and visualize why should people listen to you regarding Product life-cycle management.

– In the case of a Product strategy project, the criteria for the audit derive from implementation objectives. an audit of a Product strategy project involves assessing whether the recommendations outlined for implementation have been met. in other words, can we track that any Product strategy project is implemented as planned, and is it working?

– Which customers cant participate in our Product strategy domain because they lack skills, wealth, or convenient access to existing solutions?

Profit margin Critical Criteria:

Give examples of Profit margin tasks and cater for concise Profit margin education.

– How will we insure seamless interoperability of Product strategy moving forward?

– How can we better deploy our employees to drive improved profit margins?

– Who needs to know about Product strategy ?

– Is the profit margin holding?

SWOT analysis Critical Criteria:

Discourse SWOT analysis governance and adjust implementation of SWOT analysis.

– What are the usability implications of Product strategy actions?

– When was your last SWOT analysis for Internal Audit?

– Do we have past Product strategy Successes?

Strategic planning Critical Criteria:

Wrangle Strategic planning results and explain and analyze the challenges of Strategic planning.

– Does Product strategy systematically track and analyze outcomes for accountability and quality improvement?

– Does Product strategy analysis show the relationships among important Product strategy factors?

– How will you know that the Product strategy project has been successful?

– Are the data relevant to the strategic planning needs of the company?

Value chain Critical Criteria:

Face Value chain issues and separate what are the business goals Value chain is aiming to achieve.

– How do your measurements capture actionable Product strategy information for use in exceeding your customers expectations and securing your customers engagement?

– How likely is the current Product strategy plan to come in on schedule or on budget?

– What new services of functionality will be implemented next with Product strategy ?

Conclusion:

This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Product strategy Self Assessment:

https://store.theartofservice.com/Product-strategy-Complete-Self-Assessment/

Author: Gerard Blokdijk

CEO at The Art of Service | http://theartofservice.com

gerard.blokdijk@theartofservice.com

https://www.linkedin.com/in/gerardblokdijk

Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.

External links:

To address the criteria in this checklist, these selected resources are provided for sources of further research and information:

Product strategy External links:

(7) Product Strategy Flashcards | Quizlet
https://quizlet.com/45528782/7-product-strategy-flash-cards

Product Strategy Courses – Designed for Product Managers
http://Ad · sequentlearning.com/strategy/training

5 Steps to a Winning Product Strategy
https://www.productplan.com/product-strategy

Amazon Standard Identification Number External links:

Amazon Standard Identification Number – Infogalactic: …
https://infogalactic.com/info/Amazon_Standard_Identification_Number

Amazon Standard Identification Number – YouTube
https://www.youtube.com/watch?v=MvTmRzYQC2w

Concept testing External links:

Concept Testing | Innovation | Nielsen
http://www.nielsen.com/us/en/solutions/capabilities/concept-testing.html

Concept Testing Methods and Examples | SurveyMonkey
https://www.surveymonkey.com/mp/concept-testing

Concept Testing and Decision Making Made Easy With …
https://www.questionpro.com/decision-making.html

Design strategy External links:

7 Elements of Persuasive Design Strategy – td.org
https://www.td.org/insights/7-elements-of-persuasive-design-strategy

Design Strategy – RMIT University
http://www1.rmit.edu.au/courses/050221

Design Strategy Salaries | CareerBliss
https://www.careerbliss.com/design-strategy/salaries

Marketing External links:

Facebook Business: Marketing on Facebook
http://www.facebook.com/advertising

Salesforce Marketing Cloud
https://mc.exacttarget.com

New product development External links:

New Product Development – Kleinn Air Horns
https://kleinn.com/1new-product-development

Enventys Partners – New Product Development & …
https://enventyspartners.com

New Product Development – arenasolutions.com
http://Ad · www.arenasolutions.com/new-product

SWOT Analysis | Online SWOT Analysis & Plans
https://www.swotanalysis.com

Strategic planning External links:

9 Free Strategic Planning Templates – Smartsheet
https://www.smartsheet.com/free-strategic-planning-templates

Strategic Planning Samples | OnStrategy Resources
https://onstrategyhq.com/samples

[PDF]STRATEGIC PLANNING AND SWOT ANALYSIS
https://www.ache.org/pdf/secure/gifts/Harrison_Chapter5.pdf

Value chain External links:

Value Chain – Investopedia
https://www.investopedia.com/terms/v/valuechain.asp

Value Chain Analysis: Definition and Examples
https://www.businessnewsdaily.com/5678-value-chain-analysis.html

Toyota Value Chain
https://toyotavaluechain.net/login.aspx

Free Assessment: 63 Product strategy Things You Should Know