Product strategy

Identifying new problem that an existing digital product can and to formulate the product strategy.

Product idea: Empowering individuals to achieve optimal health and wellness through innovative smart footwear

Process:
Business Alignment: What does your business want to achieve?
What is the Vision / Mission of the company?
What Business Objectives are you aligning with?

Market
What Market Needs / Problems will you solve?
Who do you want to serve? (Persona & Early Adopter customer segment)
How big is your market opportunity?
Why are you best suited to pursue this? Your Competitive Positioning. (i.e Value Proposition & differentiators)

Strategic Imperatives: What will you accomplish with your Product?
Product Objectives (Specific, Measurable, time-bound goals)
Initiatives to achieve your product goals (Product / Market Growth Strategy) High-level efforts or big themes of work that need to be implemented to achieve your goals

Implementation: Product Roadmap

Evaluation: How will you measure success? (Metrics)

April 2023

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