product strategy

Definition

A plan for marketing a good that is founded upon an analysis of the nature of the intended market, how much market share is to be achieved, how the good is to be marketed and how much profit is anticipated. Most business marketing directors will develop a clear and realistic product strategy prior to the launch of a new product into its intended market.

Use product strategy in a sentence

  • The product strategy in place to convert high profile artists into using the mePhone allows for massive market research, aesthetic consultants, technical experts, and boatloads of illicit drugs.

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  • We needed a really good product strategy that would not only be good for the customer, but for business as well.

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  • You need to come up with a good product strategy so that you can get it marketed in the right way to your customers.

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