Faculty of Computer Science,
Economics, and Social Sciences
Business Administration
Perm
2023
Product Strategy Development
Student: Marina Vorobeva
Scientific Advisor: Karina A. Alenina
Product strategy
development
Business Administration
Overview
1. Significance of the study
2. Literature Review
3. Methods
4. Results
Faculty of Computer Science, Economics,
and Social Sciences
2
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
Goal
Identifying main aspects of product strategy
formation and developing a product strategy in
practice
3
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
4
Tasks
1. to analyse appropriate literature to shape an understanding of product definition and
product strategy
2. to elaborate a methodological toolkit for identifying key aspects of product development,
product implementation and its strategy
3. to conduct a survey and a series of semi-standardised interviews to identify the current
situation in the company
4. to draw up a backlog based on the results of the findings and prioritise tasks to develop a
product strategy
5. to shape and implement a product strategy for the product under research
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
5
Literature Review
There is no product strategy without a product
”
A product as “anything that can be offered to a market for attention,
acquisition, use, or consumption that might satisfy a want or need”
Philip Kotler
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
Literature Review
Stages of new product development
01. Idea Generation
02. Idea Screening
03. Product Concept
04. Marketing Strategy Development
05. Product Development
06. Market Testing
07. Commercialization
6
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
Literature Review
Product lifecycle concept is used to explore product's journey on a market
Figure 1. Phases of the product lifecycle
7
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
So, what is a product strategy?
8
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
Literature Review
“Product strategy is about imagining future of product:
• What offering will it become?
• Who will it benefit?
• How will it create value?
It includes product’s value proposition, market, key features, and
business goals”
Roman Pichler
9
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
Literature Review
Levels of a product strategy
Vision
Direction
Platform
strategy
Primary strategic focus
Product-line
strategy
Deployment of strategy
Individual products
Product Development
10
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
Literature Review
Формулирование цели
Формулирование миссии
Формулирование видения
Формулирование стратегии
Тактика
11
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
12
Literature Review
Steps for developing a product strategy
01. Defining Functions of a Product
02. Selection of Main Features of a Product which a
Consumer Needs
03. Launch of a Product in Market
04. Decision-making about changes
05. Creation of a Product Range Structure
06. Gathering Information before Taking a Product off
Market
Product strategy
development
Business Administration
Faculty of Computer Science, Economics,
and Social Sciences
13
Methods+Results
Common methods
Methods
Results
Quantitative methods
Survey
Current information and users' opinions about
product
Qualitative methods
Semi-standardized interview
More in-depth information from users and product
developers
Methods collecting customer and user
experience
Customer Journey Map,
HEART framework
Users' problems, benefits and drawbacks of
product, key product metrics
Methods prioritising tasks in backlog
Kano model, RICE method
What tasks are more important to do primary
Methods for shaping a product strategy
Roadmap
Document containing project objectives, key
stages, milestone dates and other important
information
Faculty of Computer Science,
Economics, and Social Sciences
Business Administration
Perm
2023
13
Product Strategy Development
Student: Marina Vorobeva
Scientific Advisor: Karina A. Alenina