A product strategy is a high-level plan for a team/company to achieve a certain goal or goals with a product/service. These goals are derived from the product vision which plays a key role in the product strategy. Using the product vision I can clearly define my product strategy, following:
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for whom we’re building the product/service
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which problem it solves
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how the product will look like
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what the business goals are
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etc.
A product strategy should always be related to a product vision. There’s a quote from Dave Ramsey that says:
“A goal without a plan is just a dream."
Let’s do the math!
Product Vision vs. Product Strategy
Everything starts with a dream. To make it come true, it’s important to develop a plan.
