PRODUCT STRATEGY FORMULATION
All strategies for a product must answer three vital questions: How has the product performed thus far? What is its envisioned market position? What can be done to achieve that vision?
When product managers can depict their long-range vision for their products, they fortify their own positions as central business figures and can more effectively bring together cross-functional teams.
Integrating the cross-functional product team into the strategy formulation process produces more ...