Strategize: Product Strategy and Product Roadmap Practices for the Digital Age
amazon.com
Strategize: Product Strategy and Product Roadmap Practices for the Digital Age
Your strategy now needs to focus on penetrating the market, sustaining the growth, and fending off competitors.
To select the right segment, evaluate the different groups and opt for the most promising one. A great tool to do this is the GE/McKinsey matrix
Products that address a problem are referred to as painkillers
consider bundling your product with other offerings to increase its attractiveness.
To succeed with adjacent innovation, you should adopt an inquisitive attitude, be willing to take informed risks, and have the ability to make mistakes and fail. You will benefit from having a dedicated, collocated product team that is loosely coupled to the rest of the organization and that applies agile and lean product development practices.
For revenue-generating products, your product should become profitable around PMF, and it should offer the highest profit margin in maturity.
In order to understand the business strength, investigate your ability to serve the segment.
To clearly state the value your product creates, describe what success looks like for the customers and users.
Because core products leverage existing assets, a conservative attitude is appropriate. You should aim to protect the product, focus on operational excellence, avoid mistakes, optimize the existing business model, and use proven technologies