Developing product strategies that deliver measurable business value

Anas Tawileh, Amazon Web Services (AWS)

September 2023 (document history)

Companies today must continue to innovate and launch products that respond to ever-changing customer needs and desires. Yet, at the heart of every new product developed is one discouraging fact: Up to 95 percent of new products fail (MIT Professional Education). This document provides a proven product strategy that maximizes the chances of success and delivers measurable business value. This approach helps to ensure that the launched products are linked to clear business objectives and outcomes. It also drives alignment between the many different stakeholders involved in the product-development process.

The proposed product strategy has four key stages:

1. Start with why: Articulate the product vision.

2. Define success metrics.

3. Develop the business case.

4. Prioritize features, and plan delivery.

Objectives

The information in this document is presented to help you achieve the following:

• Adoption of a structured, repeatable, and value-driven product-development approach that increases the chances of success of product initiatives.

• Support for intentional integration of value-realization mechanisms within the product from the outset. This integration can result in better-performing products and optimal realization of business value.