Have you ever heard about chief product strategist? Are you interested to know more about it? If your answer is yes, then this article is made just for you.
What Is a Chief Product Strategist?
If you are familiar with the term chief marketing officer (CMO) or chief information officer (CIO). Then you can guess the meaning of the term chief product strategist (CPS).
The CPS is a high-level executive who is responsible for defining and implementing the strategy of the product. The chief product strategist also leads the entire company to create value for the products. Or services that are provided for customers or end-users.
The CPS is not only determining what kind of product should be produced but also how it should be designed. The CPS also needs to understand how the products will be used by consumers. And that what features should also be included in them. He/she needs to understand the market trends and identify the needs of consumers.
The chief product strategist is the person who leads the development team. And he/she needs to specify the features of the products or services. The CPS needs to be aware of the needs and wants of customers and end-users. He/she should have a good understanding of how customers use the products or services that are provided by the company.
The CPS can be a great business person who has good knowledge about the product management process. He/she needs to know how to manage a product or service from its vision stage to its release stage, from its development stage to its maintenance stage.
Furthermore, they are responsible for defining the strategy of the products portfolio which means selecting which products will be developed and which products will be discontinued.
Chief Product Strategist: Challenges
The chief product strategist requires a high level of skill in management, especially in product management. He/she needs to have a good understanding of the market trends, customer needs, end-user behavior, competitor analysis, technology, possible solutions, etc.
The CPS needs to be very good at managing people. He/she is responsible for making important decisions about the products that are produced by the company. A right decision can lead the company to success but a wrong decision can lead the company to failure. Therefore, the CPS needs to be very careful in making decisions.
He/she also needs to be very good at managing time. The CPS is responsible for delivering the right products within a certain period so he/she needs to manage his/her time very well or he/she might deliver late products.
Chief Product Strategist: Roles And Responsibilities
The chief product strategist’s roles and responsibilities are very broad since he/she is responsible for developing new products or services that will be provided for customers or end-users. The CPS is responsible for defining what kind of products or services should be produced by the company and how they should be designed.
The chief product strategist is also responsible for specifying the features of the products or services that are produced by the company. The CPS will lead the development team which includes:
- engineers (software developers, hardware developers),
- designers (industrial designers, graphic designers),
- quality assurance (QA),
- tech writers (doc writers),
- project managers (PM) and
- other specialists who are responsible for producing new products or services that are provided by the company.