Product Strategy Deliverables

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Product Strategy Deliverables - Non-Profit

Product deliverables are various stages of work that an organization needs to present to the client including intellectual materials like reports and roadmaps. The product strategy deliverables prepared by for-profit organizations and non-profit organizations are vastly different. While for-profit organizations prepare product strategies to maximize profits, non-profits mainly focus on fundraising and volunteer management. At non-profits, the deliverables are prepared in the form of a document that contains the strategy, which is then executed upon by the management and sub-contractors like graphic artists and writers. Below you will find a breakdown of four major non-profits and their product strategies, as well as the outcomes of the implementation of these strategies.

CREATIVE COMMONS — GLOBAL NETWORK STRATEGY

Creative Commons presents its product strategy deliverable in the form of a document that outlines the background of the organization, its main vision, mission and guiding principles and the role the Creative Commons headquarters play in the global network. The main purpose of the document is to "revitalize and grow" the international Creative Commons network.

Creative Commons was established in 2001 with the vision of driving "a new era of development, growth, and productivity" and the mission of building "a global commons of creativity and knowledge". The organization achieved its mission in 2011 when it internationalized its license suite and established one version of the Creative Commons licenses for the entire world. To realize its vision, it organized a summit in 2015 with participants from various countries and planned the strategic direction of the organization. As a result of the summit, a Network Strategy Steering Committee was created. Then, the committee prepared deliverables in the form of global and regional reports on the current state of the organization and the processes that need to be implemented to fulfill the organization's vision.

The document also outlines the processes and procedures the organization needs to follow for its fundraising activities.

American Red Cross — Strategic Plan Humanitarian Services

The American Red Cross presents its product strategy deliverables in the form of a document outlining its vision and mission and presenting its strategies in the form of flowcharts, roadmaps, and other visual representations. It also utilizes images to represent its values and fundamental principles. The goal of the product strategy deliverable document is to provide the exact action plan to be taken to achieve each of its main strategic objectives. For example, for the strategic objective of "readiness", the action plan includes developing a template for the disaster response, identifying the human resource needs, and procuring material resources like construction material. Using this action plan, 6,963 individuals were prepared for disaster and 22,043 individuals were trained in strategies like CPR, first aid, and water safety.

The steps of the design process used by American Red Cross are strategic foundations, strategic direction, strategic goals and scorecard and strategic initiatives. These steps are used to set the "direction and priorities" of the organization. This plan is annually revised. Besides providing the strategy, the document also provides a financial summary of the organization for the years 2014–2018.

American Diabetes Association — 2017 and beyond

The American Diabetes Association presents its product strategy deliverable in the form of a document outlining their vision, mission, values and case studies of individuals who have benefited as a direct result of each of its strategic goals. Besides case studies, the document also utilizes infographics and images to represent and visualize the success of their strategies.

The main vision of the group is to create a "life free of diabetes", while their mission is to "improve the lives" of people suffering from diabetes. To achieve these goals, the organization divides these goals into objectives like "drive discovery", "raise voice" and "support people". Then, specific strategies like increasing investment in Diabetes research are enlisted to achieve these objectives. Finally, case studies are reported to present the outcomes of these strategies.

As an outcome of its objective of "raise voice", the organization helped Ashlynn, a diabetes patient, raise awareness about diabetes in sports and change the policy of a sports program to include training for the staff to administer glucagon, a diabetes medicine. As an outcome of its objective of "support people", the organization granted a five-year grant to Thomas Delong, a diabetes researcher.

Boys & Girls Clubs Movement — Great Futures 2025

The Boys and Girls Clubs Movement presents its product strategy deliverables in the form a roadmap for the organization through 2025. Besides providing a specific timeline for its strategies, the document also outlines the vision, mission and strategic direction of the organization. The timeline of its design process presented in the document includes gathering data, drafting direction by the planning commission, holding meetings and sharing their strategic plan between January 2015 and February 2017. The timeline also states that the organization will strive to achieve 56 percent optimal Club Experience by spring of 2020. The timeline assists the organization in adding urgency and structure to their strategic plan.

The mission of the organization is to help young people achieve "their full potential" and the vision is to "provide a world-class Club Experience". As a result of implementing these strategies, the club surveyed and reported that the participating teens were 42 percent more likely to volunteer, 19 percent more likely to attend college and 41 percent less likely to get into a physical fight.

Conclusion

In conclusion, the non-profit organizations documented their product strategy deliverable in the form of vision and mission statements, case studies, timelines, images, infographics, and survey reports.
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Product Strategy Deliverables - For-Profit

Product strategies for large companies like Apple and Bloomberg Business range from mission statements to product development. While some businesses will incorporate multiple methods to widen their product reach, others specifically focus on a single approach to perfect their product strategies. While, product strategy, product roadmap and product vision are three separate things, the roadmap and vision play a big part in the strategy of the company. Because of that, we have, at times, used the three terms interchangeably. Below you will find a breakdown of four major companies and their product strategies, as well as a general overview of how to produce a strong product strategy, as requested in the client chat.

Google — Vision & Mission Statement

The vision and mission statements of Google both work together to reflect the position of the company on a global scale and what they want their products to achieve. Google uses this method to clearly explain their purpose to the public, as well as to drive their range of offered products. Vision and mission statements are a strategic method to product strategy, as they can help to relate products with a certain ideal, as well as guide the decision-making habits of a company as they work to perfect their products for any given audience.

MISSION STATEMENT
In Google's Mission Statement, they say that their goal is to "Organize the world's information and make it universally accessible and useful." This statement has four parts that work to maximize its effectiveness for the business: world's information, organization, universal accessibility, and usefulness. Google fulfills this statement daily by providing free, global access to their search engine, which works to organize webpages and online information based on specific algorithms and programs.

VISION STATEMENT
Google's Vision Statement says that their goal is to, "Provide access to the world's information in one click." This relates specifically to their most widely-used product, the Google Search Engine. By maintaining a database of websites and offering their services immediately on a global scale, Google is able to meet and exceed their vision on a daily basis.

Facebook — 10 Year Roadmap

In early 2016, Facebook released to the public their 10-year roadmap that visualized the company's plan over the next 10 years. The roadmap contains segments for 3-, 5-, and 10-year plans for the business, as well as the required technology and sources that will be utilized to implement the plan. As stated by Facebook, the goal of the 10-year roadmap is to, "Build the technology to give anyone the power to share anything they want with anyone else." The visual roadmap embraces the 10-year plan by depicting how the used technology and resources will aid in the expected growth of the company.

Within the first three years of the plan, the goal was for Facebook to utilize the Facebook ecosystem to monetize for future goals, as well as enhance the sharing capabilities for users. The next 2 years (a total of 5 years passed) would involve the use of video, search, and groups, as well as connection apps like WhatsApp, Facebook Messenger, and Instagram, to increase the ability of users to share information with others at any time, in virtually any form. The last 5 years of the plan (a total of 10 years passed) are meant to focus on the use of Connectivity, Artificial Intelligence, and AI/VR, in hopes of widening the technologies used for sharing among users.

BloomBerg Business — Blue Ocean Strategy

Bloomberg Business utilizes what is called the "Blue Ocean" strategy, which helps them reach untapped market spaces that offer large amounts of growth for a business. Focused on the financial information services industry, Bloomberg has begun to divert their attention from IT managers to traders and analysts, in hopes of altering their money-making methodologies.

The company has begun to offer new technology platforms that are not utilized by other similar businesses, in hopes of helping analysts and traders to make money faster. This technology includes terminals that are easy-to-use and come with labeled keyboards with financial terms, as well as two flat-panel monitors that present and analyze all required information for a trade.

The idea behind this new technology is presenting clients and analysts with the opportunity to process a request quickly, so that buyers can actually use the money gained from such procedures, rather than wasting time processing information. Since this is technology that is not offered by other financial institutions, it sets the company apart from others and up for success.

Apple — Integrated Product Strategy

When it comes to product strategy methods for Apple, instead of aiming to reach a large audience through many products, the company focuses on perfecting their already existing merchandise. Their technology is considered by the public to be of high-quality and innovation, and this is where the brand aspires to remain.

In comparison, with other tech-related businesses, Apple does not try to produce a large array of products. Instead, they focus their efforts on perfecting the products that they already have. Quality over quantity is a key mindset of the company, considering how they are constantly sending out updates on their products to better their functionality. Rather than producing new products regularly, the brand will, "Improve the products that it has." Such updates will retain the best parts of older versions, while correcting and improving the problematic features. This is attractive to potential buyers, as they will not have to constantly purchase something new to get the best of a brand.

Furthermore, Apple has made sure to hold onto their high standards of quality by ensuring that their products are not over-complicated. Other brands will try to incorporate as many trendy features into one device as possible, and this can potentially overpower the technology for the user, making it not user-friendly. Apple strays from this by producing simplistic products that are still full of advanced features, without over-complicating the devices. As stated in the previous paragraphs, updates help attribute to this by offering users the opportunity to have all of the new features over time, without crowding a device or having to purchase something new entirely.

Product Strategy Formation Methods

When it comes to producing a product strategy for a brand or company, there are many possible paths to take. Whether a physical roadmap or a mission/vision statement, a product strategy must be product-driven. Although it sounds straightforward, it can be easy to fall astray in the process. Below are five key steps to follow in order to ensure a solid and driven product strategy:

Before moving forward with any sort of product or strategy, it is important to know what the end goal is, and who the market is. By conversing with both executives, co-workers, and the public, it is possible to determine what product the public is searching for. Market research and consumer opinions are helpful for this, as they will help show what is missing from a certain industry.

2. Develop a High-Level Product Vision
After understanding what is missing from a certain industry, consider how whatever product you will provide will work for an audience. Regardless of the product, the goal must be the same. Once a goal is in place, it will be easier to determine what product will best fit that intention.

3. Define Product Goals
This piece of product-strategy determination is meant to identify some key goals of your product. Are there certain targets you want your product to reach over time? If so, then how? Answering these questions will help to define the workings of a product over a given market audience.

4. Forming the Roadmap
Once goals and visions have been determined, now is the time to formulate it into a tangible form, such as a roadmap. By visualizing the path that your product is expected to follow, it will be easier to see how things are playing out in the future.

As plans sometimes turn differently than expected, it is helpful to, at times, look back at the original product strategy and review the product and methods in order to help reach goals in a timely manner.

Conclusion

While the product strategies for any given company range heavily in form, every business must focus on choosing a method that will directly focus on the goal of a product. Sometimes a physical roadmap is most helpful for understanding long-term goals, and sometimes a mission or vision statement is helpful for focusing on products and making sure they all strive towards the same goal. Whichever method is used, it is important that products work for both a brand and the given audience.
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