What is product strategy? | Hygger

Product Strategy

What is product strategy and how to improve it with the help of powerful software?

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Product Strategy

What is product strategy and how to improve it with the help of powerful software?

Managing product strategy

Any great product starts with a clear market-driven strategy. Product strategy is a set of desired goals and a global vision that work together to combine a team around outcomes for the business and clients.

The key goal of a product strategy is to align stakeholders around how these goals and vision will be achieved.

A well-defined strategy as the foundation for the entire product lifecycle includes three parts: vision, goals, and initiatives.

Luckily, product managers may use smart product strategy frameworks and powerful product management software to get success and efficient outcomes.

Product vision

Product vision should include detailed information about the target audience, market opportunities, product positioning, and competitors. It should also describe how you plan to deliver your unique offering to the clients.

User-friendly cards and Kanban boards systemize all these information and provide a great visual view of all tasks in one place.

Current state

It is about the current reality in comparison with the required condition. It is measured before the work starts.

Product goals

Efficient products start with clear, measurable and time-bound goals that have defined success metrics associated with them.

These goals or target conditions help you set what you want to achieve in the required period of time (to expand into new countries, increase revenue, increase mobile adoption of your product, etc.)

All these goals can be easily planned and scheduled with the help of roadmaps. In Hygger, you may share your beautiful roadmap with team members to get all things done.

Initiatives

Initiatives are connected with your efforts that should be implemented to achieve selected goals. It can be a better reporting, performance improvements, UI optimization, etc.

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