Product Strategy

Product strategy provides a vital link between company strategy and its achievement by the product teams. This course helps product strategists in understanding the key elements of product strategy and their role in product strategy formulation, and provides important tools, templates and frameworks for formulating the strategy. The last part of this course touches upon the key methods of product strategy implementation.

Course Learning Objectives:

  • Understand the role and key elements of product strategy.
  • Understand the relation between business strategy and product strategy.
  • Build a compelling product vision for a product.
  • Set product goals for the product teams.
  • Estimate market potential of a product.
  • Identify and segment the target market, build user personas, and clarify user needs.
  • Craft a product strategy based on the product lifecycle stage.
  • Analyze competition and establish the competitive position of a product.
  • Strategize product differentiation and innovation.
  • Assemble a product roadmap and select product development strategy.
  • Measure product success on key product success parameters.

Syllabus

Learning Objectives:
  • Understand the role and key elements of product strategy.
  • Understand the relation between business strategy and product strategy.
Module Components:

Video Lectures:

  • What is Product Strategy?

Readings:

  • Elements of an Effective Product Strategy
  • The Role of Product Strategy
  • Difference Between Business Strategy and Product Strategy

Quiz:

  • Overview of Product Strategy
Learning Objectives:
  • Build a compelling product vision for a product.
  • Set product goals for the product teams.
Module Components:

Video Lectures:

  • What is Product Vision?
  • Tools to Craft the Product Vision
  • Set Product Goals – OKR Approach

Readings:

  • Tool to Present Product Vision – Product Strategy Canvas
  • What are Product Goals?
  • Tool to Present Product Goals – Product Goals Canvas

Quiz:

  • Product Vision and Product Goals
Learning Objectives:
  • Estimate market potential of a product.
  • Identify and segment the target market, build user personas, and clarify user needs.
  • Craft a product strategy based on the product lifecycle stage.
Module Components:

Video Lectures:

  • Estimate the Market Potential of Your Product
  • Identify the Target Market
  • Segment the Target Market
  • Build User Personas
  • Clarify User Needs from the Product
  • Define the Product Value Proposition
  • Determine Product-Market Fit
  • Deciding on a Business Growth Strategy – Ansoff Matrix
  • Product Strategies Across the Product Lifecycle

Quiz:

  • Product-Market Fit and User Needs
Learning Objectives:
  • Analyze competition and establish the competitive position of a product.
  • Strategize product differentiation and innovation.
Module Components:

Video Lectures:

  • Competitive Analysis
  • Product Differentiation
  • Product Differentiation Tool – Kano Model
  • Innovation in Product Management

Readings:

  • A Primer on Competitive Intelligence
  • Additional Strategies for Product Differentiation
  • Types and Models of Product Innovation

Quiz:

  • Product Features and Key Differentiators

 

Learning Objectives:
  • Assemble a product roadmap and select product development strategy.
  • Measure product success on key product success parameters.
Module Components:

Video Lectures:

  • What is a Product Roadmap?
  • Product Development Approaches

Readings:

  • Guide to Assembling a Product Roadmap
  • Introduction to Product Development Methodologies
  • The Five Key Measures of Product Success

Quiz:

  • Product Strategy Implementation

 

Support

Please email support@northwest.academy for any support required with respect to the program, course or platform.