[1] The product strategy is composed of a variety of sequential processes in order for the vision to be effectively achieved.
Without vision, it will be difficult for stakeholders to understand its direction and it will lack connection to a broader picture.
This does not only include price, but also features of the product, quality, packaging, benefits and services.
The product life cycle concept consist of 4 stages: introduction, growth, maturity, obsolescence.
The length of the life cycle, duration of each stage and the shape of the curve vary widely for different products.
A digital platform is an ecosystem designed to enable different groups to co-create value through “plug-and-play” capabilities.
In this case a platform is a common architecture, collection of assets, component designs, subsystems, or other elements shared by several products.