Your product is revolutionary – you believe – but there’s no market for it!

You had a vision and saw tremendous value in it

You toiled for months to create this amazing product

You rushed through the product design

You sent out that email to finally announce the ground-breaking product

And gathered all your colleagues, friends and families for a product launch party

Then crickets!

NOTHING! No sales, no customer inquiry, NOTHING!

What went wrong?

This is a common situation that many businesses and product managers have to deal with

FACT: 40% of new products in the market fail to become profitable

There are many reasons for this but the main one is that your product failed to solve the unique problem that consumers have

Remember, there are 30,000 other new products on the market

If the consumers are not able to connect with your product, then it’s a failed venture

This is where a product strategy plays the critical role upfront

It minimizes the impact of the changing consumer needs and preferences and ensures that your product design aligns to what the consumer wants and how they want it

And with a product strategy, your go-to-market timeline reduces substantially

And the results are also impactful both for the consumer and the business

Does your team put emphasis on creating a product strategy upfront?