Product Strategy Document

A product strategy document is document by which a company presents its plan to develop or market an existing or new product. There can be many types of product strategies, depending on the goal the company has set or the requirements of the clients. Once it is decided what is to be achieved, a plan is formulated so that the team knows what to do, how much money they can spend, what is the deadline, are there competitors involved and what methods to use to achieve the goals. Most of the time, a company looks to market its product and improve sales, profits and revenues by attracting more customers and beating the rivals. In order to that there should be a sound product strategy.

Sample Product Strategy Document:

Name of company: Lily Enterprises

Address: 32 Daffodil Street, Waco

Document prepared by: Shawn Guber

Senior team member, Lily Enterprises

Document prepared on: April 10, 2012

Document submitted on: April 14, 2012

Document name: Marketing strategy document for new watch series

Purpose: The purpose of this document is to present a marketing strategy for publicizing the new watch series to be launched by the company in June and create interest among the customers about the product

Other details:

  • Strengths: Creativity and cost-effectiveness
  • Weakness: Creating a place in an already crowded market
  • Profit goals: First year: $250,000 Second year: 350,000
  • Marketing goals: Create a multi-media ad campaign
  • Campaign term: April 30, 2012 to October 31, 2012
  • Marketing budget: $40,000
  • Campaign focus: To inform customers and create new clients

Document approved and signed by: Dina Johnson

Manager, Lily Enterprises

Posted in Strategy Documents