A product strategy is much more than a list of specific product actions over time. It is an explicit route-map designed to guide a company in its efforts to develop and market products that build sustainable competitive advantage and meet its growth and profit objectives. A good product strategy maximizes both customer satisfaction and profits – while stating the firm’s priorities so clearly that every function can refer to it at any time for practical operational guidance.
Few companies have a clearly formulated product strategy. This article will help you develop one.
Author: Jean-Philippe Deschamps
Source: Prism (Arthur D. Little)
Subjects: Management, Strategy