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DOCUMENT DESCRIPTION
In a typical product strategy related work, following are the activities that are performed:
1) Perform customer discovery – Identify problem statements that can possibly be solved using machine learning, computer vision, deep learning, natural language processing and generation. Your broader understanding of these concepts and its applicability to solve problems is going to be critical at this stage.
2) As we begin, define goals and success metrics that are easy to achieve, rather than stringent measures. Essentially, set low expectations with stakeholders and deliver better.
3) Define OKRs, features and priortize them basis on ease of build out, low dataset requirements, ease of application and business value.
4) Launch and experiment with the production use cases, identify feature and capability gaps. Document them extensively, and use them in retro meetings for next incremental development.
5) Review the feature and capability gaps, priortize them using the framework above and continue building on the product. Keep your early adopters engaged through the process, to ensure their requirements are being met. Continue iterating them, till you attain a market fit for a particular use case.
6) As you look at extending the product for other use cases, consider use cases that closely mirror your previously working use cases and see the new use case essentially as extension to the product feature.
The attached document is a template for developing an exhaustive product strategy from ideation to launch
Key components of the document include:
1) Vision, Mission of the product – Business Imperatives
2) Objective Key Results (OKRs) – outcomes that the organization wants to achieve using the product
3) Defining NorthStar Metrics – outcomes that the organization wants to achieve using the product
4) Trends & Implications
5) Competitive Analysis – Benchmarking – Compare with best in class capabilities – what should be leveraged and where should we invest?
6) Assessment of Target Customers ( Personas)
7) Customer Discovery Exercise
8) Prioritized customer features aligned with OKRs – - Essential elements needed to enable the new target operating model
9) Value proposition canvas – Value creation optimizer
10) Decision Matrix – Should we launch this product?
11) Competitive positioning of product?
12) Go to Market – Launch & Market Expansion
13) Revenue Model
14) Launch Strategy
Got a question about the product? Email us at [email protected] or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.
Source: Best Practices in Product Strategy PowerPoint Slides: Product Strategy - Comprehensive Framework PowerPoint (PPTX) Presentation, Aadhya Solutions
ABOUT THE AUTHOR: AADHYA SOLUTIONS
We are a start up with strong credentials in providing Information Management & Big Data Architecture & Technology Consulting Solutions. We offer strategic consulting with
1. Build out of Business case for Big Data
2. Hadoop as Service
3. Real time messaging through Kafka
4. Real time streaming through Storm and Spark
5. Data Management Program ? Data Quality, Data Lineage
Product & Tool recommendations
Aadhya Solutions has published 5 additional documents on Flevy.
DETAILS
This business document is categorized under the function(s): PowerPoint Templates Strategy, Marketing, & Sales
It applies to All Industries
File Type: PowerPoint (pptx)
File Size: 921.8 KB
Number of Slides: 21 (includes cover, transition, & marketing slides)
Related Topic(s): Product Strategy
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
Initial upload date (first version): Nov 23, 2020
Most recent version published: Nov 25, 2020
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