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Identify Strong Opportunities

Create an early warning system to identify opportunities

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Check The Opportunities Against Your Strategy
Strategy Matrix

Effective strategy flows from the executive team - ensure your product strategy aligns with your company strategy

Strategy can be defined by:

  • Whom you want to pursue

  • What you want to build

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Strategy Matrix (an example of an allocation)

It is advised to select not more than 4 boxes in this Strategy Matrix to do the best resources and investment allocation, below are few examples of how you can utilize this matrix based on your company's strategy:

  • Innovation- Invest resources to build new products and technology that will serve new customers and new segments

  • Leadership- Invest resources and money in new products across all range of customers from existing to new segments

  • Intimacy- Invest resources and money to target existing customers and build an entire range of options, new/existing products, and technology for them

  • Niche- Invest resources and money to target new market segment and build an entire range of options, new/existing products, and technology for them

Access Competitive Landscape
Competitive Landscape
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 Competitive Landscape
Competitive Strategies

 

Evaluate landscape:

  • Strength and weaknesses in your offerings

  • Opportunities and threats in the market

  • Who are the significant players?

    • Don't forget alternatives available

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  • Leverage your distinctive competencies

  • If you are a leader:

    • Protect your position by growing category

    • Establish thought leadership in the market

  • If you are not the leader:

    • Focus on market segments

    • Avoid feature wars (only the leader wins)

    • Focus on the weakness in the strength

Document Your Competitive Strategy

 

  • For each competitive offering:

    • Identify strengths and weaknesses

    • Describe competitive strategy

    • Include how to win and where to run

  • Criteria for scoring competitive landscape

    • How crowded is the marketplace?

    • How strong are the competitors?

    • What barriers to entry do we command?

    • Can we enjoy exclusivity for some period?

Score Investment
Score Investment

Criteria for Scoring Investment

  • Partner relationships

  • Asset Inventory

  • Skill sets already in-house

  • Prior investments

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Guage Impact to Customer

Criteria for Scoring Impact

  • Positive

    • How much better are we going to make their lives?

      • Increased productivity

      • Ease of use

      • Allows new capabilities they didn't have before

  • Negative

    • Learning curve

    • Disruption to daily life

    • Costs

  • The acid test is required before creating a solution

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Guage Impact to Customer
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