Strategy
Thinking of strategy in terms of the product. For example, strategic focus on a product roadmap. This risks marketing myopia.Competitive Advantage
Product-focused firms are typically locked in a competitive battle to improve products faster than the competition. Depending on the industry, this usually means either reducing costs or packing in more advanced features into products. This focus on competition can end up neglecting customer needs allowing a more innovative competitor a path into the market.Product Differentiation
Developing products that have unique value relative to other products in a crowded market.Continuous Improvement
Cycles of operational optimization that drive down costs and improve the quality of products.Product Marketing
Marketing that is focused on sales and demand generation. May neglect areas such as brand recognition, customer experience and customer relationships as these are associated with customer-focus.Metrics
Measuring a business in terms of the product including metrics such as product revenue and market share. It is also common for a product-focused firm to use a number of process metrics related to continuous improvement.| Overview: Product-Focus | ||
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Definition | An approach to business that defines strategy, operations and metrics in terms of products. | |
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