Product Management: Creating Product Strategy

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Product Management: Creating Product Strategy

Author: Joel Lamendola

In this path we will teach you how to create a product strategy that attends to both your customer’s needs and your own business’s needs. We begin with a brief discussion of... Read more

What you will learn:

  • Foundational Free Market Economic Principles
  • Business goals and structure
  • Key elements of a Business Strategy
  • Market Landscape Analysis
  • How to developing a product concept
  • How to summarize the high level business strategy concept
  • How to evaluate competitors/competition
  • How to determine Risk and Opportunities

Pre-requisites

No prerequisite knowledge needed.

Business and Strategy Basics

In this section we will cover the basics of business and strategy.

Business Basics

by Joel Lamendola

May 8, 2020 / 30m

30m

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Description

Technology leaders and product developers are expected to create products for their organization that align seamlessly to business goals and product strategy, but many individuals find themselves in over their head with little or no education in product strategy or the market dynamics and business structure and processes that influence that strategy.

In this course, Business Basics, you’ll gain an understanding of markets as defined by consumer and business behaviors and recognize the broad influence of business purpose and corporate structure and governance on product strategy.

  • First, you’ll explore the meaning of markets and learn a couple essential basic theories of business and consumer behaviors.
  • Next, you’ll discover how a business’s purpose is explicitly defined and shapes the behaviors of its employees.
  • Finally, you’ll learn how to identify the impacts of corporate structure and governance on your product strategy.
When you’re finished with this course, you’ll understand the key foundational elements of a business that are required to identify relevant markets and ultimately create effective product strategies.

Table of contents
  1. Course Overview
  2. Market Models and Their Influence on Your Product
  3. Understanding Business Motivations and Goals
  4. Corporate Structure as a Foundational Element of Business
  5. Corporate Governance’s Influence on Product Strategy

Product Strategy Basics

by Joel Lamendola

Jul 27, 2020 / 1h 26m

1h 26m

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Description

Technology leaders and product developers are expected to create products for their organization that align seamlessly to the business goals and product strategy, but many individuals find themselves in over their head with little or no education in creating product strategy. In this course, Product Strategy Basics, you’ll learn the underlying core elements of creating product strategy that you can use with anything from lean business canvas processes to full traditional corporate “strat planning” processes. First, you’ll explore how to identify relevant growth opportunities for your product and business. Next, you’ll discover how to develop a compelling product concept that aligns to both your customer’s needs and your own business’s needs. Finally, you’ll see how the elements of product strategy continuously interact with each other and see how to build a holistic product strategy that addresses these interactions. When you’re finished with this course, you’ll understand the core elements of creating product strategy and be able to start using them right away in your daily work.

Table of contents
  1. Course Overview
  2. The Key Elements of Product Strategy
  3. Analyzing the Market Landscape – What Do Consumers Want?
  4. Identifying Relevant Business Opportunities
  5. Pursuing a Business Opportunity - Conceptualizing Compelling Products
  6. Product Portfolios – What They Are, Why They Are Important, and How to Manage Them
  7. Evaluating the Competition, Present and Future
  8. Identifying Your Key Business Relationships, Present and Future
  9. Make a Plan - Understanding Timing and Key Event
  10. Evaluate Your Plan - Business Modeling and Financial Forecasting

Developing Strategy

In this section we will plan, document, and finalize our strategy.

Creating Holistic Product Strategies

by Joel Lamendola

Oct 28, 2020 / 1h 42m

1h 42m

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Description

Technology leaders and product developers are expected to create holistic products that thrill their customers and align seamlessly to their own business’s needs, but many people find themselves confused and overwhelmed by these often-conflicting demands. In this course, Creating Holistic Product Strategies, you’ll participate in a business-case based learning experience that teaches a practical approach to creating compelling product strategies in the real world using the key elements of product strategy. First, you’ll explore how market information and businesses themselves influence and constrain product strategy. Next, you’ll experience the practical application of the key elements of product strategy in creating a holistic product concept that aligns to both customer and business needs. Finally, you’ll see how feedback and the discovery of constraints can be used to create more detailed product strategy iterations that produce the financial impacts of most importance to your own business. When you’re finished with this course, you’ll know the steps to take to create a product strategy and you’ll be able to anticipate and manage feedback and constraints through an iterative process.

Table of contents
  1. Course Overview
  2. Getting That Overwhelmed Feeling - A Good Start
  3. Getting Focused on the Key Elements of Product Strategy
  4. Using Feedback Productively and Adapting to Constraints
  5. Evaluating and Refining Your Product Strategy Based on Financial Forecasts

Taking a Product Strategy to Product Introduction

by Joel Lamendola

Feb 8, 2021 / 1h 10m

1h 10m

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Description

Being able to bring a valuable and successful introductory product to market is something that every organization needs. In this course, Taking a Product Strategy to Product Introduction, you’ll explore several key focus areas that will help you integrate your product strategy with a more a targeted go-to-market strategy.

First, you’ll explore your product strategy’s role and importance in your organizations strategic planning activity that includes other products and market activities.

Next, you’ll focus on appealing to and engaging your target markets by working with the elements of your organization that are responsible for go-to-market strategies and tactics.

You’ll learn how to navigate the marketplace and finalize important go-to-market details such as buyer/seller terms and conditions.

Finally, you’ll explore how to advocate for your product strategy with financial planning and forecasting that supports your ongoing efforts in the marketplace.

When you’re finished with this course, you’ll have the skills and knowledge to work with your team on go-to-market strategies that align to your overall product strategy.

Table of contents
  1. Course Overview
  2. Product Strategy as Part of Strategic Planning
  3. Using First Principals to Understand the Market Landscape
  4. Going to Market
  5. Navigating the Marketplace
  6. Financial Planning and Forecasting - Effectively Advocate for Your Product Strategy