Product
Product Strategy
Also known as: Product Market Fit, PMF & Market fit
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 aspect requires compromising another.Open glossary term to guide glossaryPrioritisationPrioritisation is the process of ranking tasks, features, or initiatives based on their importance, impact, and effort.Open glossary term.
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.
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.
Also known as
Product Market Fit, PMF & Market fit
Plain English
The plan for how your product succeeds.
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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