Product strategy for technology companies is a unique challenge because trends like globalization, commoditization, innovation, and personalization have made technology product life cycles shorter; individual customers need to be engaged, their sentiments monitored, their feedback captured – in real-time; emerging technologies need to be constantly monitored, managed, and leveraged properly; new markets must be explored, researched, and created; declining markets must be anticipated and exited in a timely fashion.
Technology product strategy starts with a strategic vision and the current business strategy that provide context and direction for the product strategy. Executing the product strategy process involves coordination vertically from executives to engineers and horizontally across various business and technical teams and roles. It also involves continuous monitoring of customers, suppliers, partners, and competitors. Skillful management of the product strategy process requires strong marketing and technical skills as well as facilitation skills.
Download our E-book for Product Strategy and learn:
- Why is Product Strategy a challenge?
- Product Strategy as a process
- Starting Point
- Product vs. Platform
- Innovation & Growth Strategies
- Strategic Balance
- Keys to Success with Product Strategy