The Product Strategy Process (Part 1)

Strategy – a word we hear a lot – but what does it mean? Shockoe’s product strategy team imparts their wisdom with us for strategizing in the modern world.

In the first part of a three-part series on analyzing and building actionable tips for developing mobile applications, platforms and digital or mobile experiences, Host Daniel J. Litwin talked to a panel of experts from Shockoe, who imparted their experience with product strategy.

The panel included Chandler Tyler and Mason Brown, both product strategists, as well Toz Grewal, a product analyst, all with Shockoe. The trio discussed how product strategy fits into today’s context, and each provided nuggets of wisdom.

For Shockoe and others in the digital application industry, the pandemic helped to accelerate the embracing of digital platforms in disbursing resources toward common goals. The panel all commented on how they defined product strategy and its importance for today’s society.

“The quality was always important, but the pandemic has put into perspective the importance for certain types of digital solutions,” added Tyler.

While for Brown, he commented how product strategy is enabling companies to manager warehouses in different states.

Grewal extended their thoughts, and said, “We exist to validate, confirm, check and test every assumption that an organization makes to decide the future of its product.”

With the development of algorithms, Brown pointed out that companies are learning how to anticipate thinking and cited using the internet and its data to properly strategize within companies.

In general, Grewal warned against being “failure aversive,” and explained, “Embracing the notion of failure pays out long term. You might shoot ten times, but only make it seven.” In other words, failure is an integral part of success.

Litwin will be back with the panel with the second installment of the product strategy process on the “Haptic Feedback” podcast.