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Product Mastery Now for Product Managers, Leaders, and Innovators
453: Creating an effective and motivating product strategy – with Bob Caporale
Sep 4, 2023
Bob Caporale, strategic practitioner with 20 years experience leading product, marketing, and business functions, discusses creating a product strategy. Product managers need to break down company objectives to impact the product. Bob emphasizes the importance of looking beyond the product roadmap and involving senior leadership in strategy development. Refreshing the strategy regularly and avoiding blindly copying competitors are key challenges for product people.
35:10
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Quick takeaways
- Product strategy involves understanding the context and vision of the product, analyzing the company, customers, and competitors to identify opportunities and problems, and creating an investment roadmap for execution.
- Product strategy should align with the overall goals and objectives of the organization, requiring synchronization between product managers and senior leadership, regular communication, and collaboration to contribute to overall business success and optimize performance.
Deep dives
Understanding Product Strategy
Product strategy is the development of a plan to achieve objectives under anticipated conditions. It involves understanding the context and vision of the product. Strategy involves analyzing the company, customers, and competitors to identify opportunities and problems. Planning includes setting goals, exploring options, and choosing actions. Execution involves creating an investment roadmap and determining resource allocation and expected results.
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