How to Create A Product Strategy that Fuels Success – As Told By Microsoft's Ex-PM 🔥
Why choose to create an ordinary product when you have the secrets to invent something extraordinary?
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🔥 Learning of the week
Learn the Strategies to Produce a Great Product! ✨
In this week's learning, our mentor- Alok Agrawal, the VP of Product at Mailmodo Technologies Pvt. Ltd (ex-Microsoft) will share the 2 effective strategies that you can apply to build your product.
1: Why the need to define product strategy?
Achieve company and business goals
Differentiate and win against competitors
Clarity & alignment with relevant stakeholders
2: What factors influence product strategy?
Market opportunity (Who do you sell to?)
Distribution channel (How do you sell?)
Business Model (How much do you sell for?)
Understand & Analyze the current product landscape
Understand the current situation of the product
Identify customer problems & validate the hypothesis
Review market opportunities & find competition gaps
Look at company goals and business KPIs
Create a detailed product strategy & execution plan
Summarize the research from Step 1
Define the long term vision of the product
Decide on OKRs and high-level investment areas
Create a product roadmap & upcoming deliverables
Watch the full recording HERE.
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🦄 This Week’s Quote ✨
“Treat stakeholders as a source of data and a way to get feedback."
Eva Li on managing stakeholders.
Co-founder/ Product Manager at ImmiSearch
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The ADPList community.