When developing a new product, there are a lot of factors that come into play. It’s not as easy as coming up with an idea and executing it. A well-thought-out strategy can help you achieve any goal that has been set. This is what product strategy does. It helps outline the benefits as well as the problem that is to be solved. Once a strategy has been effectively formulated, it can be used to build the product. It works as a guideline that can be used to constantly assess success throughout the whole process. In this article, we will look at product strategy’s meaning and significance. The Meaning of Product Strategy A product strategy is the process of developing a road map for developing a new product. It addresses several questions, such as: who is the product made for? How will it benefit the product users? What does the company’s…