Module 3: Identifying Opportunities

and Crafting Strategies

Product Management Career Accelerator Program
Product Development Lifecycle
Ship and learn
1. How do we get to market?
Identify 2. What have we learnt from the launch?
3. Have we reached success?
1. What user problem are we solving? 05
2. Is it the right problem to solve for
the company?
3. Is it worth solving this problem?

01 04
Build
1. What does it take to unblock the
stakeholders to build?
Align 2. What are the tradeoffs to be made?

1. How will you convince the leadership?

2. Which other teams should be involved? 02 03
3. Why should they care about this
problem?
Define
1. What does it look like when the
problem is solved?
2. Which features do you need to build?
Product Development Lifecycle
Ship and learn
1. How do we get to market?
Identify 2. What have we learnt from the launch?
3. Have we reached success?
1. What user problem are we solving? 05
2. Is it the right problem to solve for
the company?
3. Is it worth solving this problem?

01 04
Build
Agile
1. What does it take to unblock the
stakeholders to build?
Align 2. What are the tradeoffs to be made?

1. How will you convince the leadership?

2. Which other teams should be involved? 02 03
3. Why should they care about this
problem?
Define
1. What does it look like when the
problem is solved?
2. Which features do you need to build?
 Product Development Lifecycle - 0 to 1

Identify market and

strategy
1. What industry will we operate in?
2. What will be our product strategy?
3. How will we compete?

Ship and learn

00
1. How do we get to market?
2. What have we learnt from the launch?
3. Have we reached success?
05
Identify user problem
1. What user problem are we solving?
2. Is it the right problem to solve for
the company? 01
01 04
3. Is it worth solving this problem?
Industry
● Industry is a group of companies that produce similar goods or services
○ Technology, Manufacturing, Healthcare, etc.
● An industry can be defined loosely depending on the criteria to group the
goods and services
○ Manufacturing: FMCG, Automobile, F&B, etc.
○ Technology: IT services, Cloud, Cybersecurity, etc.
● PMs usually operate in industries which are technology powered
○ Fintech, edtech, healthtech, etc.
○ Social media, marketplaces, gaming, streaming, etc.
● Understand the industry you operate in and its dynamics
Market
● Market is a place where buyers and sellers come together
○ It could be physical (mall) or virtual (app store)
○ Markets today are pervasive and therefore indicate the customers you
have access to
○ Markets can be represented in terms of revenue, or number of
customers
● Market and industry are often used interchangeably but their definitions are
very different
○ Market represents the customers whereas industry represents the
companies
○ There could be multiple industries operating in a market
Analyzing the industry - Porter’s 5 Forces

Threat of new entrants Bargaining power of buyers

1. Economies of scale 1. Number of customers
2. Brand loyalty 2. Size of each customer order
3. Capital requirements 3. Price sensitivity
4. Regulated space 4. Switching costs
5. Access to distribution channels Rivalry among
6. Network effects
7. Ecosystem barriers
existing
competitors
1. Number and size of
competitors
2. Prevalence of anti
competitive practices

Bargaining power of suppliers Threat of substitutes

1. Number and size of suppliers 1. Number of substitute products available
2. Uniqueness of supplier’s product 2. Buyer propensity to substitute
3. Threat of vertical integration 3. Uniqueness of substitutes
4. Relative price performance of substitutes
5. Disruptability
Porter’s 5 Forces application - OTT industry

Threat of new entrants Bargaining power of buyers

Threat of new entrants is medium. It is Bargaining power of buyers is high. Consumers are
easy to set up streaming platforms today extremely price sensitive and is not uncommon for
using simple cloud applications. However, them to subscribe to multiple OTT providers at the
this place is still regulated and network same time.
effects are high. Rivalry among
existing
competitors
Rivalry among existing
competitors is high. Deep
discounting to acquire
customers is common.

Bargaining power of suppliers Threat of substitutes

Bargaining power of suppliers is high. The Threat of substitutes is medium. While
success of an OTT platform highly depends consumers are unlikely to go back to cable TV,
upon the quality and quantity of the content the OTT space enjoyed huge adoption during the
library. While there are many content pandemic that is unlikely to continue as
providers, getting into a bidding war for quality consumers have substitutes outside (movies,
content is common in this industry. dining, etc).
 Analyzing the industry - PESTEL analysis

Political Economic Social Technological Environmental Legal

Policies Growth Population Innovation Climate change Antitrust

Stability Inflation Lifestyle Disruption Ethical Labor laws
Corruption Interest rates Culture Data protection
Employment
 PESTEL analysis application - OTT industry

Political Economic Social Technological Environmental Legal

Governments Increased Creation and Penetration of 5G No direct impact Procuring

want to have a consumer distribution of and mobile of environmental certification for
say in what spending is content in local devices is factors content acts as a
content can be helping grow the languages is growing the hindrance
shown harming industry helping grow the industry
the industry industry
Analyzing the company - SWOT

Strengths Weaknesses Opportunities Threats

What do we do well? What don’t we do well? What opportunities can What are the risks?
we grab?
SWOT analysis application - Disney+ Hotstar

Strengths Weaknesses Opportunities Threats

1. Own huge content 1. The streaming 1. Well placed to 1. Competition from

houses like Marvel, Pixar, platform is still not the diversify more into global and local players
Walt Disney, etc. best in the business and regional content is stiff.
2. Have a well tested user complaints of 2. Withdrawal of the
streaming platform that crashes and buffering pandemic can take away
withstands high are still high. customers.
concurrent usage.
Picking an industry

Favourable
industry

Alignment

Strong Large
company market
Assignment
Pick an industry that you think will be highly relevant in the near future. Explain
why you think so. Perform the Porter’s 5 forces and PESTEL analysis for the
industry. Also identify what will it take for a company to be successful in this
industry.

Some examples of industries you could consider are crypto, AR/VR, autonomous
driving, bike taxi, etc.
Glossary
● PDLC: The product development lifecycle is a series of stages that a product goes through from conception to retirement. The stages typically include: concept
and strategy, research and development, testing and validation, and launch and retirement. The specific stages and their names can vary depending on the
organization or industry, but the basic process of taking a product from idea to market is generally consistent.

● Agile development: Agile development is a method of software development that prioritizes flexibility and collaboration. The Agile approach is centered around
the Agile Manifesto, a set of values and principles that guide the development process. The Agile method emphasizes iterative and incremental delivery, with a
focus on rapid prototyping and continuous improvement. Agile teams are self-organizing and cross-functional, and prioritize flexibility and the ability to adapt to
change over strict planning and adherence to a specific plan.

● Waterfall development: Waterfall development is a traditional, linear model of software development in which progress flows in a one-directional downward
sequence. The Waterfall model consists of several distinct phases, each of which must be completed before the next phase can begin. These phases include
Requirements, Design, Implementation, Verification, and Maintenance.

● 0 to 1 building: "0 to 1 product building" refers to the process of creating a new product or service from scratch, as opposed to improving or iterating on an
existing one. It involves taking an idea or concept and turning it into a fully-functioning product or service that solves a specific problem or fills a specific need.

● 1 to 10 building: "1 to 10 product building" refers to the process of scaling and growing an existing product or service, as opposed to creating a new one from
scratch. It involves taking an existing product or service that has already been validated in the market, and expanding its reach, customer base, and revenue.

● Industry: An industry is a collection of companies that offer similar or substitute products to the customers and compete with one another.

● Market: Market refers to a mechanism that helps buyers and sellers in entering into transactions relating to exchange of goods and services.

● Economies of scale: Economies of scale refer to the cost advantages that a business can achieve by increasing production. As a company produces more and
more units of a good or service, the fixed costs (such as rent, equipment, and salaries) are spread over a larger number of units, resulting in lower per-unit costs.
Glossary
● Network effects: Network effects refer to the phenomenon where the value of a product or service increases as more people use it.

● Vertical integration: Vertical integration refers to the process by which a company expands its business operations by moving upstream or downstream in
the supply chain. Upstream integration refers to the process of a company acquiring or investing in suppliers or raw materials, while downstream integration
refers to the process of a company acquiring or investing in distributors, retailers or customers.

● Ecosystem barriers: Ecosystem barriers refer to the challenges and obstacles that a company may face in entering or competing within a particular
ecosystem. An ecosystem is a network of interconnected businesses, technologies, and other entities that work together to create value for customers and
users.

● Price sensitivity: Price sensitivity refers to the degree to which the demand for a product or service changes in response to changes in its price.

● Anti competitive practices: Anti-competitive practices refer to business practices or strategies that are designed to restrict competition in a market and
create a monopoly or an oligopoly.

● Buyer propensity: Buyer Propensity refers to the likelihood or probability that a customer will make a purchase or invest in a product or service.

● Headwinds and tailwinds: Headwinds and tailwinds are terms used to describe the external factors that can impact a company's performance. Headwinds
are factors that impede a company's progress and make it harder for the company to achieve its goals. These can include factors such as economic
downturns, intense competition, regulatory changes, and natural disasters. Tailwinds, on the other hand, are factors that provide a boost to a company's
performance and make it easier for the company to achieve its goals. These can include factors such as economic growth, favorable industry trends,
technological advancements, and government policies.

● NPS: Net Promoter Score (NPS) is a measure of customer satisfaction and loyalty. It is a metric that is used to gauge the likelihood that customers will
recommend a product or service to others.
Module 3: Identifying Opportunities
and Crafting Strategies
Product Management Career Accelerator Program
Product Development Lifecycle
Ship and learn
1. How do we get to market?
Identify 2. What have we learnt from the launch?
3. Have we reached success?
1. What user problem are we solving? 05
2. Is it the right problem to solve for
the company?
3. Is it worth solving this problem?

01 04
Build
1. What does it take to unblock the
stakeholders to build?
Align 2. What are the tradeoffs to be made?

1. How will you convince the leadership?

2. Which other teams should be involved? 02 03
3. Why should they care about this
problem?
Define
1. What does it look like when the
problem is solved?
2. Which features do you need to build?
 Product Development Lifecycle - 0 to 1

Identify market and

strategy
1. What industry will we operate in?
2. What market will we go after?
3. What will be our product strategy?

Ship and learn

00
1. How do we get to market?
2. What have we learnt from the launch?
3. Have we reached success?
05
Identify user problem
1. What user problem are we solving?
2. Is it the right problem to solve for
the company? 01
01 04
3. Is it worth solving this problem?
Market
● Market is a place where buyers and sellers come together
○ It could be physical (mall) or virtual (app store)
○ Markets today are pervasive and therefore indicate the customers you
have access to
○ Markets can be represented in terms of revenue, or number of
customers
 Needs, Wants, and Demands

A need is something
Needs that is necessary for
survival

Maslow’s hierarchy of needs

Customers
A demand is a A want is a higher order
need/want backed Demands Wants need, usually shaped by
by buying power culture and personality
Segmentation, Targeting, and Positioning
● Segmentation: Dividing a market into smaller groups of consumers with similar needs or
characteristics
○ Allows you to better understand the needs of the specific segments
○ Common ways of segmenting are on demographic, psychographic, geographic,
behavioral axes
● Targeting: Picking the right segment to serve
○ Size: Is the segment large or small?
○ Growth: Is the segment growing or shrinking?
● Positioning: Creating a unique image and identity of the product in the minds of
consumers
○ Positioning is how your consumers see your brand (more than just the product)
○ It is deeply influenced by the value proposition that is offered
Segmentation, Targeting, and Positioning - OTT market
● Segmentation
○ Geographic: India, Global
○ Demographic: Language spoken (english, hindi, regional), Demographic (tier 1
city, tier 2 city, rural)
○ Behavioral: Content preferred (sports, series, movies, documentaries),
Language preferred (english, hindi, regional), Frequency (binge, casual)
● Targeting: Indians living in tier 1 cities and preferring regional content
○ Size: TAM (Total Addressable Market) of 50M users
○ Growth: CAGR (Compounded Annual Growth Rate) of 36%
● Positioning
○ An OTT platform that offers hyperlocal Indian content and is viewed as a
brand supporting Indian creators
Glossary
● Needs: Human needs are a state of felt deprivation. In Maslow’s hierarchy need represent the basic physical needs for food, clothing, warmth, and safety.
Marketers can’t create real needs; they are a basic part of human beings. They play a vital role. They are what make us who we are and how we live our lives. An
example of a basic requirement for a human being is food. The agriculture sector works tirelessly to feed everyone. If you don’t have enough to eat or you can’t
afford to buy food then your basic need is not being met. A person’s need is never fully satisfied; however, they can be partially satisfied depending upon the types
of needs. An example of partial satisfaction of a human need is having money in the bank or having a roof over your head. When you satisfy the basic needs of
human beings then you have satisfied their basic requirements for being alive.

● Latent needs: A latent need is a consumer need or desire that is not immediately obvious or actively expressed. It may be unconscious or unspoken, and can be
revealed through research or other means of understanding consumer behavior. Examples of latent needs may include a desire for convenience, a need for social
connection, or a longing for personal growth.

● Wants: The form human needs take as they are shaped by culture and individual personality. The basic difference between needs and wants is that the wants are
more sophisticated and require more effort to obtain. Examples of human wants include having money, having internet, having a Mercedes car, or being married. A
want is not usually as basic as a need but it does have the same effect on the person who has it. The wants are what make us all different and what keeps our
society moving forward. The need to be accepted by others and shown affection are the most basic of social needs. When a person feels rejected or judged they
have an emotional reaction that results in stress.

● Demands: When backed by buying power, want becomes a demand. Staying in star hotels, owning multiple real estate properties, buying luxury cars like BMW or a
Mercedes can be considered as an example of demand. Demand is the force that helps society progress. When demand is satisfied, people feel better about
themselves and this feeling increases their desire to work hard for what they want and that achieve status symbol. It sits right at the top of Maslow’s hierarchy with
self-actualization.

● Segmentation: Segmentation refers to the process of dividing a market into smaller groups of consumers with similar needs or characteristics. This allows the
marketer to better understand and meet the needs of specific groups of consumers. There are several ways to segment a market, including demographic,
psychographic, geographic, and behavioral segmentation.
Glossary
● Targeting: Targeting refers to the process of selecting the most attractive segments to serve. After the market has been segmented, the marketer must decide
which segments to target. This decision is based on the size and growth potential of each segment, as well as the company's ability to serve it.

● Positioning: Positioning refers to the process of creating a unique image and identity for a product or brand in the minds of consumers. This is done by
emphasizing certain features or benefits that the product or brand offers, and by differentiating it from its competitors. The goal of positioning is to create a unique
and desirable image in the minds of consumers, which will attract them to the product or brand.

● TAM: Total Addressable Market (TAM) is a term used to describe the total market demand for a product or service. It is the total revenue potential of a product or
service if 100% market share was achieved. It is used as a metric to determine the size of a market and a company's potential revenue from that market. The TAM
is typically calculated by identifying the total number of potential customers for a product or service and multiplying that number by the average revenue
generated per customer. It is an important metric for businesses as it helps to determine the potential size of a market and the potential revenue that can be
generated from that market. This information can be used to make strategic business decisions such as whether to enter a particular market, how to allocate
resources, and how to price a product or service.

● CAGR: Compound Annual Growth Rate (CAGR) is a financial metric that measures the annualized growth rate of an investment over a specified period of time.
Module 3: Identifying Opportunities
and Crafting Strategies
Product Management Career Accelerator Program
 Product Development Lifecycle - 0 to 1

Identify market and

strategy
1. What industry will we operate in?
2. What market will we go after?
3. What will be our product strategy?

Ship and learn

00
1. How do we get to market?
2. What have we learnt from the launch?
3. Have we reached success?
05
Identify user problem
1. What user problem are we solving?
2. Is it the right problem to solve for
the company? 01
01 04
3. Is it worth solving this problem?
What is User Research
● What is user research?
○ The practice of studying users to generate insights about their needs
● Why do we need to do user research?
○ To understand our users better so we can build usable products that people
actually want
● How do we perform user research?
○ User research is not a one time process and occurs continuously across the
PDLC
● What are the types of user research?
○ Broadly speaking you can perform generative or evaluative user research
○ Generative research focuses on uncovering new opportunities
○ Evaluative research focuses on evaluating ideas
Continuous User Research

Generative research Evaluative research

Discover user needs, Evaluate solutions,

problems, opportunities concepts, products
Generative Research

User
interviews Focus
Group
Discussions

Surveys
Diary Ethnographic
studies research

Primary research
Research
User needs
enquiry Secondary research

Consumer Industry
behavior landscape
reports reports Market
research
reports

Technology
User trend
research reports
reports
Research enquiry
● A research enquiry is the scoped research question that you want to pursue
● For generative research, it can include the purpose, the research
methodology, and the target user who you want to research
● For example, a research enquiry could be - “Identify the unique movie
watching needs of the multilingual Indian audience”.
Secondary research
● Performing secondary research lets you leverage existing research
● Primary research is expensive and time consuming, so leverage secondary
research as much as possible
● Secondary research also lets you identify broad insights that can then be fine
tuned using primary research
● Popular sources of market/industry/user research reports
○ Gartner, Forrester, IDC, MarketsAndMarkets
Primary research
● Primary research allows you to connect directly with the customer
● It is a great source of authentic and personal insights
● There are various methods of performing primary research
○ User interviews, focus groups, surveys, ethnographic research, diary
studies
User Interviews
Recruit participants that
belong to the target segment
using screeners
Recruit
participants

Conduct the Synthesize

interview the learnings

Create a
A 30-60 min live moderated Distill the learnings from the
discussion
session that may be recorded interviews and create a report
guide

Create a discussion guide that

will the structure for the
interview
User Interviews - Recruiting participants
● Identify the target segment
○ If you have already done an STP analysis, you should have a target
segment in mind. Otherwise go with a broad user segment.
○ Identify the key traits of the target user
● Create a screener
○ Create a set of questions using which you can screen the participants
○ Leverage a service like [Link] or UX research vendors to
recruit participants
● Decide the number of interviews
○ A smaller number of users (5-10) works for a qualitative study
○ You can stop once you see no new insights coming from interviews
User Interviews - Recruiting participants - OTT example
● Identify the target segment
○ Living in a tier 1 city, Genz/Millenial, who enjoys watching local movies
● Create a screener
○ Q1: Which of these languages can you understand (Proceed only if one or more
regional languages are selected)
■ Language 1
■ Language 2
■ Etc.
○ Q2: How many movies have you watched in the last one month? (Proceed only if 2+)
■ 0-1
■ 2-5
■ 5+
○ Etc.
User Interviews - Discussion Guide
● Get to know the participant well
○ Ask enough questions about their background. Understand who they are, what they do, what a typical
day in their life looks like.
● Keep the interview conversational
○ It’s recommended to keep a script but use it as a guide
● Ask open ended questions
○ For example, instead of asking “Do you have a full time job”, ask “What do you do for work”
● Don’t ask leading questions
○ For example, instead of asking “Would you like to make payments on WhatsApp”, ask “How do you feel
about making payments on WhatsApp”. Asking the former will bias the participant to say yes.
● Make room for follow up questions
○ For example, don’t stop after asking a question like “Do you like using WhatsApp”, follow up with “What
do you like about using WhatsApp”
● Avoid hypothetical questions
○ For example instead of asking “Imagine you could do X…”, ask “Let’s go back to the last time you did
X…”
User Interviews - Discussion Guide - OTT example
● Questions to know the participant
○ Tell me about yourself? Who are you? Who do you live with? What do you do for work? What
do you do for fun? What did you do last weekend? Walk me through a typical day in your life.
● Questions to set the context
○ When was the last time you watched something on an OTT platform? How often do you
watch? Who do you watch with?
● Questions to dig in
○ What are your favorite type of shows you watch on an OTT platform? Can you give some
examples? Walk me through the entire journey of how you choose a show and watch it.
○ What do you think about movies created in your regional language? When was the last time
you watched one? Why did you choose that movie over other options? What do you like or not
like about them? What do you think separates them from other types of movies?
User Interviews - Conduct the interview
● Record the session and take notes
○ Transcribing the entire session is preferrable
● Make the participant comfortable
○ If the participant does not feel comfortable, they will not give you true insights
○ Start with the easy general questions to warm them up
● Keep the interview conversational
○ Know when to drift away from the discussion guide and when not to
○ Probe deeper into the participant’s answers to understand why they’re saying
what they’re saying
○ Give the participant ample time to think but ask them to speak their mind
● Wrap up the interview and thank the participant for their time
Challenges with user interviews
● Participants may not always do what they say
○ Understand when this is happening and probe the user to talk about things
they’ve done as opposed to what they’d do
○ If this is turning into a big problem for your scenario, rely more on field studies
● Participants may feel obliged to say good things or come across as useful
○ Remind the participant that it’s not helpful if they’re unnecessarily nice to you
● Participants may leave out important things that they feel are trivial
○ Frame your questions in a way that forces them to go through all the details
● Not all participants are equally forthcoming
○ Try to remove such participants during screening
○ If this is a recurring problem, try using focus groups as participants tend to be
more comfortable in a group setting
User Interviews - Share a report
● Create a report that summarizes all the insights observed
○ This report can be shared with the wider stakeholders and will be useful
for alignment later on
● An insight is a takeaway that could influence the eventual product
○ For example, in the research to identify the unique movie watching
needs of the multilingual Indian audience, an insight could be that all
participants keep subtitles on while watching movies
○ Insights framed as needs or jobs-to-be-done are easily consumable
● Sometimes developing an insight might require triangulating more
information from multiple sources, observing correlations, and coming up
with hypotheses
User Interviews - Synthesize the learnings
● Synthesizing the learnings involves converting the raw interview notes to
actionable insights
○ A lot of information from the user interviews will be superfluous
○ Distill the information so that the common patterns stay
● Create a report that can be shared or presented
○ The report should have the takeaways but should also allow
stakeholders to see the raw information
○ This report is valuable for alignment later on
User Interviews - Synthesize the learnings
● What are the major patterns and common themes?
● What were the surprising findings?
● What hypotheses/assumptions were invalidated and validated?
● What interesting stories emerged from the responses?
● What values are most important to these users?
● What were the identifiable traits of these users?
● What were the key needs or jobs-to-be-done for the users?
● How are these users different from other users?
Glossary
● Generative research: Generative research is a type of research method that is used to generate new ideas, concepts, and theories. This can be done through a
variety of techniques such as brainstorming, focus groups, interviews, and surveys. The goal of generative research is to uncover new insights and understanding
about a particular topic or problem, and to generate new ideas for solving that problem.

● Evaluative research: Evaluative research is a type of research method that is used to assess the effectiveness or value of a particular program, product, or policy.
This can be done through a variety of techniques such as experiments, surveys, case studies, and observational studies. The goal of evaluative research is to
determine the strengths and weaknesses of a particular intervention or program, and to identify areas for improvement

● Ethnographic research: Ethnographic research is a type of qualitative research method that involves studying and understanding a particular culture, group, or
community through in-depth observation and participation.

● Qualitative research: Qualitative research is a type of research method that focuses on understanding the experiences, perceptions, and behaviors of people
through the collection and analysis of non-numerical data, such as words, images, and observations.

● Quantitative research: Quantitative research is a type of research method that focuses on collecting and analyzing numerical data, in order to understand and
explain the subject matter. The goal of quantitative research is to identify patterns, relationships, and trends in the data and to test hypotheses or theories that
have been developed.

● Screener: A screener is a tool used in research to identify and select a specific group of participants who meet certain criteria for a study. Screeners are often used
in qualitative research, such as focus groups or in-depth interviews, to ensure that the participants are representative of the population of interest.

● Discussion guide: A discussion guide is a document that is used to structure and guide a focus group or in-depth interview. It contains a set of questions or
prompts that are used to elicit information and opinions from the participants. The purpose of a discussion guide is to ensure that the conversation stays on topic
and that the researcher obtains the information they need to answer their research question. Sample discussion guide.
Module 3: Identifying Opportunities
and Crafting Strategies
Product Management Career Accelerator Program
Finding opportunities
Industry analysis (Porter’s 5
forces, PESTEL)

Company Market
analysis analysis (STP)
(SWOT)
Finding opportunities
Industry analysis (Porter’s 5
forces, PESTEL)

Company Market
analysis analysis (STP)
(SWOT)

User needs

Generative
user research
Finding opportunities and crafting strategies
Industry analysis (Porter’s 5
forces, PESTEL)

Product/GTM
Company Market strategy
analysis analysis (STP)
(SWOT)

User needs

Generative
user research
A strategy is a high level coherent plan designed to set
you up to meet your goals
 Kernel of a good strategy
● Diagnosis: An analysis of the situation breaking down the complexity and
grounded in first principles
● Guiding policy: An overall approach chosen to overcome challenges (like sign
posts)
● Coherent actions: A set of actions obeying the guiding policy

Book: Good Strategy, Bad Strategy - Richard Rumelt

Kernel of a good strategy
Kernel of a good strategy
Diagnosis
1. We are alone and need to get to the city.
Two paths are available - climb the
mountain or cross the lake.
2. We are running out of food, and haven’t
slept for 2 days. We have camping
equipment with us.
Kernel of a good strategy
Guiding policy
1. High speed: Make quick progress so we
reach soon
2. High safety: Avoid unnecessary risk so
we stay out of harm
3. Low exertion: Avoid over exertion since
we are tired
Kernel of a good strategy
Coherent actions
1. Create a raft and oar by stringing
together logs of wood and tent equipment
(ropes and tarpaulin)
2. Paddle across the lake slowly but firmly
3. Create a floatation device using pieces
of tent in case the raft capsizes
Kernel of a good strategy
Coherent actions
1. Create a harness out of tent
equipment (ropes and pins)
2. Hike across the mountain and use the
harness to scale cliffs
3. Stay low and camp overnight
Vision vs Strategy vs Plan vs Roadmap
Vision

1 Representation of the end state.

Long lasting and is the purpose of
Strategy existence.

High level plan to meet the vision.

Can be long lasting but has to adapt 2
to competition. A blueprint for
success. Plan
3 An implementation of the strategy.
More tactical in nature.

Roadmap
4
List of things that will be built.
Vision vs Strategy vs Plan vs Roadmap - Spotify
Vision

To unlock the potential of human

1 creativity—by giving a million creative
artists the opportunity to live off their art
and billions of fans the opportunity to
Strategy enjoy and be inspired by it

Focus on making Spotify an artist 2

first platform Plan

Invest in three pillars - 1. Provide

3 more creation and analysis tools, 2.
Provide more reach, and 3. Provide
Roadmap more means of monetization

1. AI powered beat samples, 2. 4

Better recommendation engine, 3.
Live concerts
GTM Strategy - 4 Ps of Marketing
● Product: This refers to the physical product or service being offered to consumers. It
includes all aspects of the product, such as design, features, packaging, and branding.
● Price: This refers to the cost of the product or service and how it compares to competitors.
It includes considerations such as pricing strategy, discounts, and financing options.
● Place: This refers to the distribution channels used to get the product or service to the
customer. It includes considerations such as retail locations, online sales, and distribution
partners.
● Promotion: This refers to the various methods used to communicate with potential
customers, such as advertising, sales promotions, public relations, and personal selling.
GTM Strategy - 4 Ps of Marketing
● Product: This refers to the physical product or service being offered to consumers. It
includes all aspects of the product, such as design, features, packaging, and branding.
● Price: This refers to the cost of the product or service and how it compares to competitors.
It includes considerations such as pricing strategy, discounts, and financing options.
● Place: This refers to the distribution channels used to get the product or service to the
customer. It includes considerations such as retail locations, online sales, and distribution
partners.
● Promotion: This refers to the various methods used to communicate with potential
customers, such as advertising, sales promotions, public relations, and personal selling.

As a PM, you’re fully responsible for the Product. In some orgs, PMs are responsible for
Price and Place as well. Promotion is usually the responsibility of the marketing org.
 Product Strategy
● Product strategy defines where to play and how to win
● It dictates how you compete with other players in the industry
● An effective product strategy allows the player to build a lasting competitive
advantage (moat)
● Industry analysis is a key component of informing the product strategy
● The product strategy also defines the positioning (STP) to a large degree

More reading: [Link]

Porter’s Competitive Strategy

Broad

Cost
Differentiation
leadership

Scope

Differentiation
Cost focus
focus
Narrow

Low High
differentiation differentiation

Source of competitive advantage

Porter’s Competitive Strategy

Redmi Note, Apple iPhone 14,

Broad Vivo V5 Samsung S22
Cost
Differentiation
leadership

Scope

Differentiation
Cost focus
focus Samsung Z Flip,
Narrow Microsoft Surface Duo

Low High
differentiation differentiation

Source of competitive advantage

Ansoff Matrix
New
markets

Market
Diversification
development

Existing New
products products

Market Product
penetration development

Existing
markets
 Ansoff Matrix
New
markets
PrimeVideo Blinkit 10
launch in Indian minute delivery
market

Market
Diversification
development

Existing New
products products

Market Product
penetration development
Newer versions iPad serving to
of iPhone smartphone
market
Existing
More reading: [Link] markets
Glossary
● GTM strategy: GTM (Go-to-Market) strategy refers to the plan for a company to effectively bring a product or service to market and achieve its desired commercial
objectives.

● Vision: A company's vision is a statement that defines its aspirations and provides direction for the future. It represents the company's desired future state and
what it wants to achieve. A vision statement is often aspirational and focuses on the company's purpose, values, and culture.

● Roadmap: A product roadmap is a high-level visual representation of a product's strategy and plans over time. It is a planning tool used to communicate the
product's direction, prioritize features and releases, and align stakeholders on the product's goals and objectives.

● Competitive advantage: Competitive advantage is a unique advantage that a company has over its competitors, enabling it to generate more sales or provide
better value to customers. It can be based on factors such as cost, quality, unique features, brand, distribution, or access to resources. Competitive advantage
allows a company to differentiate itself from its competitors and gain a market share. It enables a company to achieve a higher level of sales, profitability, and
customer loyalty, and ultimately, long-term success.

● Diversification: Diversification is a business strategy where a company expands its operations into new product lines, markets, or industries. The purpose of
diversification is to spread risk, reduce dependence on a single product or market, and ultimately increase long-term growth and stability.