Product
Product Strategy
Plain English
The plan for how your product succeeds.
Definition
Product glossaryStrategyStrategy is a high-level plan that defines long-term goals and the approach to achieving them.Open glossary term defines how a product will achieve business goals by solving user problems in a focused and sustainable way. It sets direction, priorities, and glossaryTrade-offsTrade-offs are decisions where improving one thing requires giving up another, such as speed against quality or scope against cost. Every product decision involves them, whether or not they are made explicit.Open glossary term to guide decision-making.
In practice
Used to align teams on what to glossaryBuildA build is the process of compiling and packaging code into a runnable application.Open glossary term, what to prioritise, and what to deliberately not do.
In context
It gets tested the moment two good ideas compete for the same quarter. A glossaryStrategyStrategy is a high-level plan that defines long-term goals and the approach to achieving them.Open glossary term that cannot tell you which one to drop is a wish list with better formatting.
The reality
Without glossaryStrategyStrategy is a high-level plan that defines long-term goals and the approach to achieving them.Open glossary term, teams glossaryBuildA build is the process of compiling and packaging code into a runnable application.Open glossary term more but achieve less.
Compared with
Product Strategy vs Product Vision
Vision is the destination and rarely changes. glossaryStrategyStrategy is a high-level plan that defines long-term goals and the approach to achieving them.Open glossary term is the route, and it changes whenever the terrain does. Teams that confuse the two either drift or never commit.
Product Strategy vs Roadmap
glossaryStrategyStrategy is a high-level plan that defines long-term goals and the approach to achieving them.Open glossary term explains the choices and the glossaryTrade-offsTrade-offs are decisions where improving one thing requires giving up another, such as speed against quality or scope against cost. Every product decision involves them, whether or not they are made explicit.Open glossary term behind them. A glossaryRoadmapA roadmap is a strategic plan that outlines the direction, priorities, and timeline for a product or initiative. It communicates what will be delivered and why, rather than just listing features.Open glossary term is what those choices look like once they meet a calendar. A roadmap without the strategy underneath is a list of dates.
FAQ
Common questions
A few practical answers to the questions that usually come up around this term.
What is product strategy?
It defines how a product delivers value and achieves business goals.
Why is product strategy important?
It ensures teams focus on the right problems and priorities.
What does a product strategy include?
Goals, priorities, glossaryTarget UsersTarget users are the specific group of people a product or service is designed for.Open glossary term, and key decisions.
Who owns product strategy?
Typically product leaders in collaboration with glossaryStakeholderA stakeholder is any individual or group with an interest in a product, project, or outcome, including internal teams and external parties.Open glossary term.
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