Product strategy answers the question, “How will your product delight customers, in hard-to-copy, margin-enhancing ways?”

Brand. Building trust with customers takes years of delivering value with a minimum of “trustbusters.”

Network effects

Economies of scale

Counter-positioning

Unique technology

Switching costs

Process power.

Captured resource.

You’ll need to experiment to evaluate different prices and business models over the life of your product. You’ll never be “done.”

Product Strategy Exercises
Exercise #1: Take a moment to jot down how your product delights customers today, then add a few ideas about how you might delight them even more in the future.

Exercise #2: Using the eight hard-to-copy powers above as a springboard, list ways your product might create a hard-to-copy advantage in the future.

Exercise #3: For your product, list a few price and business model experiments you might explore over the next 1–3 years.