Product Strategy

Effective product development starts with a clear product strategy – a set of guidelines for achieving one or more business goals.

Product strategy explains in detail the product’s positioning in the target market, the product’s life cycle, and the product’s goals.

Translating a product vision into reality requires a roadmap that guides the development team, first to initial launch (achieving what is often referred to as a Minimal Viable Product, or MVP), then onward toward achieving product-market-fit and product maturity.

This long-term plan – also called a “product roadmap” – helps the entire team stay focused on the direction, priorities, progress, and forecast for product iteration to achieve strategic goals and, ultimately, build a successful product.

Discover more information concerning the product development process and insights for effective strategic planning from our subject matter experts, who share their know-how in this section’s articles.