The next phase that follows after market research, idea verification and specification is product strategy. Its main objective is to define the scope of the product.
What is a product scope?
Product scope defines how the product or service will look and work like and what its features and functions will be. The term is often by mistake interchanged with project scope. The project scope defines all demands of a project and the total work required to create the product or service and explains the expected results and limitations.
How is the product scope defined?
During the product scope definition we take into account the current state of the market, the competition's offer, consumer demand and many other factors. It is necessary to review all functions and attributes from the customer's point of view and to ascertain what they consider to be important and engaging.