All products start with a well-defined strategy focused on customers and the market. This strategy identifies the product direction and clarifies what you want to achieve. It helps to align a company and keep everyone focused on the work that matters the most.
A Product Strategy is the foundation of a product life cycle that represents the execution plan for further development. It allows businesses focusing on specific target audiences as well as on essential product and consumer attributes.
The strategy culminates in the product’s vision. The ideas of the well-defined strategy should clarify how your users and rivals will view the product.
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