When it comes to Product Management, there are many factors to learn and know about. Some of which include creating a Product Roadmap, Product Vision and Strategy. Between the three of these, there are key differences that a professional Product Manager should acknowledge.
A product roadmap looks at important milestones and timelines for all throughout the product lifeline. The product roadmap is less specific compared to the product strategy, as it’ll cover the basics of the deadlines, and directions that the product is headed. Learn more about fundamentals to incorporate into your product roadmap here.
A product vision statement articulates the essence of the product. It should encapsulate why the product is being made and who it is being made for. A product vision is the north star for your team: every stage of development should be guided by the Product Vision: the Product Vision is the purpose of the product. The Product Vision statement is written by the Product Manager. It might be something like “make snacks healthier to eat.”
Here’s a vision statement example from Apple:
Apple strives to bring the best personal computing experience to students, educators, creative professionals, and consumers around the world through its innovative hardware, software, and internet offerings.
A product strategy is the highest degree of specifications for a product. It’ll detail an analysis of the current situation of the product, such as where it’s located on the timeline in accordance with its’ release date. The strategy details the goals, and the final outcome that you and your company are hoping to reach.
There are similarities between a product roadmap, product vision and strategy. For example, within a large company that houses many products, there would be a separate product roadmap, product vision and strategy for each different product.
Learning how to work with each of these would be useful, as each provides its own agenda and purposes. It should also be noted that each team may be presented with a different product roadmap, vision and strategy to accompany what their focuses are. For example, a technical team would receive a technical roadmap, whereas a sales team could receive a roadmap that is relevant to their sales role within the company.
Master Product Roadmap, Product Vision, and Strategy
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