Product Management: Initial Product Strategy and Plan from Coursera

A Product Manager’s role in an organization is to drive product strategy development and implementation. They effectively engage with stakeholders to transform how an organization does business through high-impact product solutions.

This course will provide an overview of the Product Management Lifecycle. You will then learn about the Product Conceive and Plan phases in detail. You will discover tools and techniques used in product concept identification. In addition, you will acquire skills to work with SWOT analysis and the Product Concept document.

The course also prepares you to establish a team and develop a project charter. Hands-on labs will help you practice working on market and solution analysis using a Market Requirement Document. You will also investigate a product business case and perform a financial analysis.

Throughout this course, several product management experts will share their insights and experiences in product management. Practice quizzes and graded quizzes will test your knowledge. You will be able to apply the concepts learned in the course in a final project.

This course is suitable for anyone who aspires to apply for product management jobs and understand various lifecycles used in product management, including agile. It does not require any prior degree.

What's inside

Syllabus

Product Conception and Planning Overview

You will begin the module with a quick review of the Product Management Lifecycle. The module then introduces the Product Conceive and Plan phases. You will then get an overview of the product concept identification process. Next, you will perform product external and internal assessment and record your findings in a SWOT template in a hands-on lab. In the next lesson, you will develop product strategy activities and options and learn the contents of the Product Concept document and how to gain approval of the document. Finally, you will attempt a quiz to practice everything you have learned in the module.

Product Concept Identification

You will begin the module with an overview of the product management team and team-building challenges a Product Manager may face. A team building checklist identifies key requirements to effectively build a team. This segment ends with a brief review of a common team-building model named the Tuckman Ladder. Next, the module describes the Project Charter concept, shares an example, and walks you through the contents of the Project Charter. You will create a Project Charter in a hands-on lab. You will identify the goals and questions that need to be addressed when conducting a marketing investigation and perform a quick review of personas. You will learn how to perform a competitive analysis. This will be followed by an introduction to the Market Requirements Document (MRD). Subject Matter Experts (SME) will share insights on the concepts learned in the module. A practice quiz at the end of each lesson will test the concepts learned in the module. A graded exam at the end of the module will further test your knowledge.

Product Concept Investigation

You will begin the module with a summary of marketing feedback goals and what the Product Manager can likely expect in terms of responses. You will then define the Product Vision, and the importance of developing a value proposition to effectively position your product. Next, you will learn how to create a preliminary launch strategy and identify product risks. The next lesson will share updates that are required to the Initial Project Charter and ideas on the importance of this document. You will identify the purpose and contents of a Product Business Case. In a hands-on lab, you will develop a Business Case. Subject Matter Experts (SME) will share insights on the concepts learned in the module. A practice quiz at the end of each lesson will test the concepts learned in the module. A graded exam at the end of the module will further test your knowledge.

Product Plan Phase

Module 4 introduces the Plan Phase of product management. This module discusses the Product Manager’s role, and key activities, including planning, marketing, and business case updates. You will learn the components and develop a Product Roadmap in a hands-on lab. You will discover the components and how functional plans support the development plan. You will determine the required updates to the marketing and launch strategies and perform the financial components of a business case in a hands-on lab.

Course Summary and Final Assessment

In this module, you will explore the final projects used to test a learner's comprehension of the course material. The learners’ peers evaluate these final projects in a peer review assignment. You will discover the basics of peer reviews, including how to set up the rubrics and grading.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores product management lifecycle, helping learners apply concepts to real-world scenarios

Focuses on product conception and planning, providing a strong foundation for understanding the early stages of product development

Provides hands-on labs, quizzes, and graded quizzes to reinforce concepts and test understanding

Includes insights and experiences from product management experts, offering valuable industry perspectives

Covers market and solution analysis, SWOT analysis, and product concept development, providing a comprehensive overview of product planning

Teaches essential skills such as team building, project chartering, and business case analysis, preparing learners for real-world product management roles

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Product Management: Initial Product Strategy and Plan with these activities:

Read 'Inspired: How to Create Products Customers Love'

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Gain valuable insights into product development and management by reading 'Inspired: How to Create Products Customers Love', a highly recommended book in the field.

View EMPOWERED on Amazon

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Read the book and take notes on key concepts and ideas.
Summarize the main takeaways from the book.

Review SWOT Analysis Techniques

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Strengthen your grasp of SWOT analysis, a fundamental tool in product management, by reviewing its techniques and applications before the course begins.

Browse courses on SWOT Analysis

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Read articles or watch videos on SWOT analysis.
Review the strengths, weaknesses, opportunities, and threats of a product or company.

Compile a List of Product Management Tools

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Gather and organize a comprehensive list of product management tools to enhance your productivity and efficiency in managing product development and strategy.

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Identify the categories of product management tools.
Research and evaluate different product management tools.
Compile a list of the most relevant and effective tools.

Six other activities

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Show all nine activities

Read 'Inspired' by Marty Cagan

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This book provides valuable insights into the role and responsibilities of a Product Manager. It emphasizes the importance of building products that solve customer problems and driving product strategy development.

View Product is Hard SVPG Box Set: Includes INSPIRED... on Amazon

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Read the book thoroughly, taking notes as you progress.
Identify key concepts and principles related to product management.
Reflect on how these concepts and principles align with your understanding and aspirations as a Product Manager.

Analyze Product Requirements

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Conduct market and solution analysis to gain insights into product requirements and enhance your ability to develop effective product solutions.

Browse courses on Product Management

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Review the concept of market and solution analysis.
Identify the key components of a Market Requirements Document (MRD).
Practice analyzing product requirements using an MRD.

Develop a Product Business Case

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Gain hands-on experience in developing a product business case and performing financial analysis to enhance your ability to assess product viability and make informed decisions.

Browse courses on Financial Analysis

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Review the purpose and contents of a Product Business Case.
Identify the key components of a financial analysis.
Develop a product business case and perform a financial analysis.

Participate in a Product Management Study Group

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Enhance your understanding of product management by joining a study group to discuss concepts, share insights, and learn from others.

Browse courses on Product Management

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Find a study group or create your own.
Meet regularly to discuss course materials and share knowledge.
Work together to solve product management problems.

Practice Product Concept Identification

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Practice the skills for identifying product concepts to foster a stronger awareness of the processes in the Product Concept Identification phase.

Browse courses on Product Lifecycle

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Review the Product Concept Identification process.
Identify the key tools and techniques used in product concept identification.
Practice performing SWOT analysis.
Develop a Product Concept document.

Develop a Product Roadmap

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Enhance your understanding of product planning by creating a product roadmap that outlines the strategic direction and key milestones for a product's development.

Browse courses on Product Roadmap

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Review the concept of a product roadmap.
Identify the key components of a product roadmap.
Develop a product roadmap for a specific product.

Career center

Learners who complete Product Management: Initial Product Strategy and Plan will develop knowledge and skills that may be useful to these careers:

Product Manager

As a Product Manager, you will be responsible for the entire lifecycle of a product, from its inception to its launch and beyond. You will need to have a strong understanding of the product management lifecycle, as well as the tools and techniques used in product concept identification and development. This course will provide you with the knowledge and skills you need to be successful in this role.

See salaries and explore the career path for Product Manager

Product Owner

As a Product Owner, you will be responsible for the vision and roadmap of a product. You will need to work with stakeholders to define the product requirements and ensure that the product is meeting the needs of the users. This course will provide you with the knowledge and skills you need to be successful in this role.

See salaries and explore the career path for Product Owner

Product Analyst

As a Product Analyst, you will be responsible for gathering and analyzing data to help improve the product. You will need to have a strong understanding of market research and data analysis techniques. This course will provide you with the knowledge and skills you need to be successful in this role.

See salaries and explore the career path for Product Analyst

User Experience Designer

As a User Experience Designer, you will be responsible for designing the user interface and experience of a product. You will need to have a strong understanding of human-computer interaction and design principles. This course will provide you with the knowledge and skills you need to be successful in this role.

See salaries and explore the career path for User Experience Designer

Marketing Manager

As a Marketing Manager, you will be responsible for developing and executing marketing campaigns for a product. You will need to have a strong understanding of marketing principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Marketing Manager

Sales Manager

As a Sales Manager, you will be responsible for selling a product to customers. You will need to have a strong understanding of sales techniques and strategies. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Sales Manager

Customer Success Manager

As a Customer Success Manager, you will be responsible for ensuring that customers are satisfied with a product. You will need to have a strong understanding of customer service and support principles. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Customer Success Manager

Project Manager

As a Project Manager, you will be responsible for planning and executing projects. You will need to have a strong understanding of project management principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Project Manager

Business Analyst

As a Business Analyst, you will be responsible for analyzing business needs and developing solutions. You will need to have a strong understanding of business analysis principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Business Analyst

Financial Analyst

As a Financial Analyst, you will be responsible for analyzing financial data and developing recommendations. You will need to have a strong understanding of financial analysis principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Financial Analyst

Quality Assurance Analyst

As a Quality Assurance Analyst, you will be responsible for testing software to ensure that it meets the requirements. You will need to have a strong understanding of quality assurance principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Quality Assurance Analyst

Software Engineer

As a Software Engineer, you will be responsible for designing, developing, and testing software. You will need to have a strong understanding of software engineering principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Software Engineer

Data Analyst

As a Data Analyst, you will be responsible for collecting, analyzing, and interpreting data. You will need to have a strong understanding of data analysis principles and techniques. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Data Analyst

Technical Support Specialist

As a Technical Support Specialist, you will be responsible for providing technical support to customers. You will need to have a strong understanding of the product and its features. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Technical Support Specialist

Salesforce Administrator

As a Salesforce Administrator, you will be responsible for managing the Salesforce CRM system. You will need to have a strong understanding of Salesforce and its features. This course may be useful in providing you with a foundation in product management concepts.

See salaries and explore the career path for Salesforce Administrator