3. Agenda:
- WHAT is Product Vision
- WHY do we need it
- HOW do we create it and use it
4. WHAT is a Product Vision?
The Product vision describes the purpose of a Product, the intention with which the Product
is being created and what it aims to achieve for customers and users, and for company’s
business.
The Product vision describes a future state of the Product and what problems it tries to
resolve or what ambitions it tries to fulfill.
It is used to frame a problem space and define the people who will benefit the most by its
resolution.
5. Product Vision
All product visions should:
Be customer-focused: Your customers are the whole reason for your product. If you don’t
reference them in your product vision, you need to rework it.
Be a bit of a stretch, but not unrealistic: Your vision needs to be attainable. If it’s too much
of a stretch, you’ll have a hard time rallying your team around the vision. And don’t say “be
the best.” That’s lame. Get to the root of what you mean when you say that you want to be
“the best.”
Show differentiation: Something in your vision should explain why your product is different
from your competitors.
Look X years down the road: In five years, you want people to say ___ about your product
6. WHY do we need it?
Having a clear and inspiring Product vision helps in motivating and inspiring people, like the Development
Team, the stakeholders and customers and users.
It also provides a common understanding of the direction we want to move towards. It give a common
goal and a clear focus for both the team and a Product Manager.
Product Vision also supports the Product Manager in making choices about what to build and what not to
build for the Product.
It provides a clear and visible message for all the stakeholders of the product, what the product is and
what’s not.
Product Vision defines a value proposition, which is used as a communication tool in further customer
development, marketing and sales of the product.
7. 7 phases of Product Development
1. Discovery
2. Define
3. Design
4. Implement
5. Marketing
6. Training
7. Launch
8. Customer Development (Steve Blank)
Blank's customer development methodology proposed four steps:
1. Customer discovery
2. Customer validation
3. Customer creation
4. Company building
10. HOW do we create it and use it?
01. Very first step to take is to match a problem and users
a. Have a problem and try to identify who suffers the most because of it
b. Have a community of users and identify their pain points you could solve
02. Once you have both a problem and users that correlate,
you need to figure out what the relief/benefit is that you can bring to them
that would mean the most for that group.
03. If you have a problem, users that need relief/benefit for it and a clear value
that you will provide to them,
you need to identify if there is a way for you to create a value for your
company as well by providing it.
Only then you have a valid idea that could potentially be sustainable.
11. Value Proposition
A value proposition is a promise of value to be delivered, communicated, and
acknowledged.
It is also a belief from the customer about how value (benefit) will be delivered,
experienced and acquired.
12. Value Proposition - Format Examples
Steve Blank
We help X do Y dong Z.
Example: We help visually impaired pedestrians safely cross the street with our intuitive signaling devices.
Information technology services marketing
association
For [target customer]
Who [specific needs/opportunity]
We provide [solution name]
Unlike [the competitor]
Who [provides solution, features, function…]
Our company [better approach, solution, function...]
That [offers better customer experience]
Value proposition templates and definition: https://www.smartsheet.com/value-proposition-positioning-templates
Geoff Moore
For [target customer]
Who [statement of needs/opportunity]
Our [product/service name]
Is [product category]
That [statement of benefit]
16. Product Vision Statement - Examples
Google: To provide access to the world’s information with one click.
Instagram: To capture and share the world’s moments.
Uber: Evolving the way the world moves. By seamlessly connecting riders to
drivers through our apps, we make cities more accessible, opening up more
possibilities for riders and more business for drivers.
LinkedIn: To connect the world’s professionals and make them more
productive and successful.
17. Exercise - Product Vision Statement
● Select a company
● Define your product vision statement
18. Some of the questions that Product Vision is
trying to answer:
1. Why are you doing this and what is the change you want to bring to others
2. What’s “the problem” you’re trying to solve
3. Who are the users that have that “problem”
4. What need of your users are you fulfilling
5. What will be the product/service that you will make for this
6. How common is the problem, will you have enough potential users to scale
your market
7. What will you offer more/better/different that will set you apart from your
competitors
8. What are the viable ways for you to make money on this product/service
9. What is the potential for making money in that scenario, is it worth making this
product (costs vs. revenue)
10. What are the channels for communication and sale for customers
