One of the quickest developing subsets of digital marketing is Product Marketing and Management. Organizations are progressively looking at recruiting managers with a specialization in product marketing and this program from Northwestern Kellogg School of Management does justice in setting you up for those jobs.
A portion of the topics covered in the program includes strategizing, analyzing opportunities, defining requirements, designing business models, managing growth and partner ecosystem, and lots more.
What is Product Strategy?
First and foremost, what is product strategy?
A product strategy is a high level plan describing what a business hopes to accomplish with their product along with the plans behind how to bring it to reality.
The product strategy in question, should be able to answer important questions such as who the product will serve, how it will benefit these persons, and the company’s objective for the product throughout its life cycle.
More than 55,000 students have already profited from this courses, training, and classes. If you are looking for courses beyond product strategy, do check out our compilation of 100 Free University Courses Online.
Why is Product Strategy Important?
Crafting out a product strategy before you begin the product’s development is very necessary because it will serve three valuable business purposes.
1. A product strategy provides clarity for your company.
Your team will be in a better position to deliver their best services when you draft and communicate a clear and well thought out strategy/plan for your company.
Your developers will understand how the parts of the product they’re working on contribute to the larger company wide strategic objectives.
Developers can sometimes feel caught amongst all the details and lose sight of the over all purpose behind their work. A product strategy clarifies this for them.
Your marketing and sales teams will be able to articulate the product’s benefits and unique selling proposition.
However, without a defined strategy behind a product. Overall generation of anticipation and sales becomes incredibly difficult.
Additionally, your customer success team will better understand your product’s use cases and provide better support for your users’ frustrations.
2. It helps you prioritize your product roadmap.
After you’ve earned stakeholder agreement for your proposal, it will be time to translate that strategy into a high level action plan and then build a compelling product roadmap.
Unfortunately, many product teams skip the strategy-drafting stage and jump right into listing themes and epics on their roadmap. Without a product strategy to guide these decisions, the team may prioritize the wrong items and find themselves misusing its limited time and resources.
When you start with a strategy, you have a clearer picture of what you hope to accomplish with your product and translate it into a more strategically sound product roadmap.
3. A product strategy improves your team’s tactical decisions.
No organization delivers a product to the market following the exact plan drafted in the initial roadmap. Things change along the way, and product managers need to be prepared to adjust their plans and priorities to deal with those changes.
When you and your team have a clear product strategy as a reference point, you can make smarter strategic decisions about adjusting your plans, especially if you lose resources or need to change your estimated timetables.
Advantages of learning Product Strategy from Kellogg School of Management
- Learn about the 360-degree product mindset
- Learn from the practical experience of the educator and maintain a strategic distance from commonly made mistakes.
- Explore industry examples of various organizations, for example, Apple, Uber, Microsoft and Cisco, and others.
- Get trained from recognized industry specialists who are well known globally
- Complete the program with over 80% marks to pass and acquire the certification
- Your batchmates will incorporate stalwarts from the domains of e-commerce, software, banking, consulting, and lots more
Length: 2 months, 4 to 6 hours out of every week
Rating: 4.7 out of 5
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