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Product Development Strategy and Roadmapping

Product Development Strategy and Roadmapping

Gain an edge on the market to beat your competitors and grow your company with a top-notch product development strategy.

Product Development Strategy and Roadmapping

What are the product development strategies?

Product development strategies define how you build, position, and deploy your product. Below are several examples of product development strategies we can implement for you.

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Price-driven strategy
Top-value-on-the-market approach
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Innovation strategy
Offering the best and charging for it
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Time to market strategy
First one to market wins the competition
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Customer-oriented
Satisfy the customer to get the best position
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Platform-driven
Optimize flexibility, cost, and scaling options

Product strategy checklist we use

Product strategy checklist we use
  • Innovate around the core product
  • Manage and extend the product portfolio
  • Apply existing products in a new market
  • Tie your corporate vision to the product

How to develop a product development strategy?

Governance, funding, and process are three pillars of product development strategy. A viable strategy begins with

  • A vision: a broad statement of where you’d like your company to be
  • A strategic plan: steps you intend to take to achieve that vision
  • Roadmap: product and tech milestones, priority lists, and budgets
  • A product planning process: links the company vision with the strategic steps required to realize that vision
How to develop

Tips for a successful product development strategy

Innovate around the core product

Innovate around the core product

Consider the whole user and customer experience and find a way to be innovative that has nothing to do with the core product but produces an added benefit.

Orchestration
Apply existing products in a new market
Think about how your products could succeed in adjacent markets. For example, a gaming company might make a game-based app for HR departments to screen new applicants.
Extensive market research
Tie your corporate vision to the product
Align strategy, budgets, technologies, and products. Use detailed road maps to show the route you will take to execute your product development strategy.
Manage and extend the product portfolio

Manage and extend the product portfolio

Nurture new product ideas and load the pipeline with new projects. Employ the governance, funding, and a proven process for selecting and executing new products.

FAQ

What is a product development roadmap?

4.9/5 (12 votes)

A roadmap is a guiding strategic document, a plan for executing the product strategy. It is a high-level visual summary that maps out the vision and direction of your product offering over time.

What is the simplest product strategy example?

4.9/5 (12 votes)

Product strategy can be as simple as modifying an existing product and selling it to the same market. Customers may buy a new version even though they have the current one. Apple is a prime example of this.

What are the "4 P's" of product strategies?

4.9/5 (12 votes)

The four P’s are product, price, place, and promotion. They make a marketing mix – a set of tools and methodologies the marketers use to achieve their objectives.

Who we are

Glorium Technologies is a full-cycle app & software development company which covers specific client business needs and tries to manage them with the help of the best possible technology solutions.

Since 2010, we have been inventing digital solutions, helping startups and SMBs come out on top in their markets.

Who we are
200+
skilled professionals
100+
products delivered
12 years
on the market
99%
clients satisfaction rate

Why choose Glorium Technologies

Growth Marketing Services
In-depth industry experience
Deep industry expertise helps is approach the nuances around startups for you to get the best result possible.
Strategic Investments Services
Fully customized solutions
You are in the driver’s seat of your future solution. If you want to execute a certain feature, we will complete it for you.
Product design services
Faster time to market
Glorium Technologies is your opportunity to make it to the market as soon as possible and at an affordable cost.

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Named among the Inc.5000 (2020, 2021, 2022) & Regionals (2021, 2022) fastest-growing private companies in America
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Reviews

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