A guide to product strategy: Frameworks and examples

Product strategy is a dynamic framework aimed at guiding businesses, teams, and organizational culture towards long-term success by providing clarity and motivation. Instead of the traditional pyramid model, which focuses on building continuously, a modern product strategy is likened to a funnel that prioritizes decision-making by clearly defining what actions not to take. The framework consists of six levels: purpose, mission, vision, strategy, objectives, and tactics, each serving a specific function in narrowing choices and focusing efforts on delivering customer value. The framework emphasizes clarity, modularity, and concision, ensuring team alignment and efficient resource allocation. By defining each level distinctly, the strategy framework helps teams prioritize actions that support the company's goals, fostering a sense of purpose and direction.