According to Roman Pilcher, a product management expert, there are three product strategy elements. These factors influence the decision-making process on the use of resources and capabilities.
international journal management education
When you are ready to begin building your business plan, it is very helpful to ask yourself a series of thought-provoking questions to help develop the most strategic and most successful business plan for your business. Products and their respective strategies fall into one of four quadrants. The typical starting point for a new business is as a question mark. If the product is new, it has no market share, but the predicted growth rate is good. What typically happens in an organization is that management is faced with a number of these types of products but with too few resources to develop all of them. Thus, the strategic decision-maker must determine which of the products to attempt to … Read the rest