A product development strategy is a strategy based on developing new products or modifying existing products so they appear new, and offering those products to current or new markets.
Strategies used for products are the market leader strategy, the challenger strategy, the follower strategy and the niche strategy.
Simple Steps to Create a Killer Software Product Strategy are, Create a Narrative Before You Create a Product. Solve the Most Valuable Problems, Not the Most Interesting Ones. Play by Your Own Rules and Organizing a great software implementation team is one of the most critical. A solid product strategy is an important part of building a functional and coherent product and it shouldn’t be overlooked. A product strategy should serve the following purposes: An assessment of your current situation, An understanding of the market opportunities and a roadmap for how you can move from your current situation to situate yourself within the available opportunities. Every product strategy will be different. Each business has different needs, goals, and surroundings.A new software startup might create a slim and minimal product strategy, Whatever the size of your business, if you start correctly and follow a coherent process you should be able to produce a strategy which stands the test of time and helps drive your business forward.
