Product Management: The Intersection of Strategy & Execution

The Product Manager (PM) plays a unique and pivotal role in transforming ideas into profits. Straddling the intersection between two critical success factors—strategy and execution—the PM helps a company shape a product strategy that capitalizes on market opportunities and drivers, and then translates the vision into products by leading execution. 

Applying product management knowledge, tools and techniques, the PM leads the charge in product strategy definition and implementation. One of the most effective models to guide strategy development is Geoffrey Moore’s “Technology Adoption Life Cycle”. And to execute on the strategy, the PM taps the power of a cross-functional product team. 

Shaping Product Strategy 

The Technology Adoption Life Cycle has become a predominant model to guide high-tech product strategy. Introduced by Geoffrey Moore in his best-selling book, Crossing the Chasm, successful product managers align their strategies to its buyer behavior (innovator, early adopter, early majority, late majority, laggards) and market development stages (early market, bowling alley, tornado, main street, total assimilation), which informs everything from product feature priorities to marketing messages. 

Execution through Product Teams 

By assembling and leading the cross-functional product team, the PM is the driver that turns the product strategy into reality. The effective PM brings the strategy alive to the product team by translating the vision into the meaningful effort of creating a product or service. The PM articulates the strategy so that everyone on the team recognizes how their own work, and their department’s work, supports the strategy. 

Aligning execution with strategy is crucial. The risk you face: If your execution approach isn’t viewed as well-aligned, the product team won’t be fully engaged and resources may be re-allocated to other teams.

If your product team isn’t “getting it” or fully participating, try these steps: 

1. Set up time to review the strategic alignment with the team.

2. In that meeting, make sure you’re articulating the strategy and alignment in a way that's the most compelling to your audience.  

3. Paint a clear picture of how your product or service aligns with corporate or divisional strategy.  Use visuals, and make them available by posting them for ongoing reference.

Applying the Technology Adoption Life Cycle

Learn how to apply the Technology Adoption Life Cycle to your company and products at a one-day workshop: Driving Product Success, hosted by the Chasm Institute and Pivotal Product Management in Seattle on April 8. You’ll walk away with proven techniques to develop your company’s product strategy. Plus you’ll get hands-on practice in key product management skills that will help you and your organization translate that strategy into well-oiled execution.  More information.