Product Strategy

Creating or re-imagining mission-critical digital products and services.

Challenges

As customer behaviours and expectations shift, business leaders are looking to disrupt existing markets or defend their position by developing new digital products. The strategy phase of any new product venture is vital to long-term viability and success. But getting the strategy right isn’t easy—many significant challenges stand in the way:

  1. Identifying a clear problem space where there’s true desire for a new or better solution.
  2. Understanding shifting consumer behaviour and expectations.
  3. Analyzing the competitive landscape to identify market opportunities with significant growth potential.
  4. Articulating the problem in a way that will endure beyond the current cultural and technological context.
  5. Keeping up with emerging technologies and recognizing how they can be advantageously applied.
  6. Determining a viable business model that defends the product from disruptors and copy-cats.
  7. Building a strong brand that highlights the problem the product is solving and resonates with the market.
  8. Identifying an extended ecosystem of partners, suppliers, and manufacturers.
  9. Validating the strategy through a minimum-viable product (MVP) or prototype that inspires confidence in prospective partners and investors.

Our approach

We offer strategy services that help identify and test viable, feasibly, and desirable digital products, revenue streams and service models. Our work bridges the gap between a big-picture vision and a detailed roadmap for investment and execution. Our services are focused on the strategy phase of product development—identifying the problem space, market fit, technology approach and business model. Our focus on strategy means we’re not biased by the potential opportunity to provide interface design and technology development. Our only goal is to help you make the right decisions.

How we can collaborate

We take a holistic view of the inputs involved in identifying a viable product, including customer needs and behaviours, market landscape opportunities, emerging technology trends, business model approaches and team skillset and processes. We work in close partnership with our clients and provide an insight-driven, pragmatic and level-headed point-of-view to founders, intrapreneurs and product owners.

"Modern Craft have been instrumental in helping us guide the roadmap. They work as an extension of our team and are a valuable partner for steering key components of the program including our internal team, vendors, and technology platform."
Kurt Pregler, CTO
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Are you looking to create a new or improved digital product or service? Or do you have an idea but need help identifying a viable business model to take it to the next level?

We’d love to share our experience with you and see if we can help.