What is Product Line Strategy?
A product line strategy is a coherent approach to advance related products. It guides managers to improve the performance of their products and services, and to avoid disjointed actions and investments.
A good strategy will respond to change, whether major disruptions or incremental. It does this by tying directly to Responsive Roadmapping to create and carry out strategy moves, pivots, and recasts.
A smart strategy works across products to enhance customer satisfaction while maximizing total income and fending off competitors. And it does this in the near term and over the long run.
Good product line strategies help manage many interrelated challenges that fall into three groups:
Product Line Strategy genius matches bundles of technologies to bundles of customer needs… over time and repeatedly.
To form a product line strategy, managers must think beyond a common single-product mindset. Instead, they must coordinate how multiple products relate to each other and to different market segments. This may involve strategy moves, pivots and multi-generational product planning.
Innovating at a product line level is notably more powerful than innovating single, independent products.
How a strategy is formed and carried out is best communicated through a product line roadmap. These graphics are different than single-product roadmaps. They demand teams to think through how they intend to coordinate many activities and strategy parts related to technologies and markets, and to internal and external contributions.
Making a product line strategy and its execution responsive to market, technology and organizational change demands smart decisions and deliberate work. This on-going practice is best orchestrated through Responsive Roadmapping. This practice deconstructs the strategy into a system of parts and places keen sensitivity on their interplay.
Learn more at The Profound Impact of Product Line Strategies