Align Product Strategy
The next step in 20/20 Outlook is aligning the product strategy with the exit strategy.
The 20/20 Outlook matrix below depicts various options in evolving a product strategy. The "core space, current products" represents the Company's current offerings.
Business school case studies abound with examples of abandoning a company's core market position, attempting overly ambitious plans as a new product strategy is developed, and failing to deliver. Moving to a remote position rather than an adjacent one can destroy an existing market position by siphoning off finite resources to fund new development, i.e. leaping to brand new technology rather than modifying existing ones can introduce untenable levels of risk that jeopardize the current business.
Moving too far to the right on the matrix can increase product development costs to an unsustainable level. Moving too far upward on the matrix can require unsustainable levels of marketing expenditures to increase the Company's visibility in unfamiliar territory.
Gain more insight from
20/20 Outlook's blog.