Summary
Many organizations have an unclear and inconsistent definition of product strategy. Forrester defines product strategy as an outline of how customer needs and business strategy will be fulfilled through a product offering. An unclear, incomplete, or overcomplicated product strategy can cause the organization to waste resources and reduces the chance of product success. A clearly documented product strategy that includes the essential components provides guidance to the cross-functional team and supports interlock. In this report, we define product strategy and introduce the Product-Strategy-On-A-Page Template, which outlines the elements of product strategy and a way to codify it on a single page.
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