Product Strategy

Product Strategy is having a vision for the product. The journey right from the evolution of the product to its pinnacle is to be envisioned and strategically planned. The organization’s competencies and the target market’s problems that the company decide to address are mapped to evolve a product with a strong differentiation. The product then has to be positioned, priced and distributed to the target market and this involves lot of strategic decisions to be made by the marketing and business heads. The product strategy also incorporates the marketing goals for the product like, the market share it can get, the revenue it can generate for the company.

The product teams should keep taking feed back or inputs from the market to plan for the future variations for the product and also the new markets and segments it can cater to. The technological evolution, changing customer preferences, internal capabilities, market dynamics and the entire eco system has to be continually monitored to formulate future strategies and the direction of the journey for the product.

GroupSynergy with good industry knowledge, customer insights and the expertise in product development helps companies in evolving the right product which satisfies the target market as well as leverages the company’s internal capabilities with a clear vision for the product which is also aligned to the company’s strategic vision.

GroupSynergy has been involved in product strategy formulations in various companies by taking up the role of a Facilitator, Expert, Architect and collaborator.