Product Strategy for High Technology Companies

Rating:
Summary: Don't Just Read It, Do it!
Review: After founding a leading market research firm and teaching New Product Development at Harvard, I found this book so compelling that our firm has completed a review of our entire new web research product strategy, and come to some startling and highly productive insights on how to proceed and succeed. It is by far the most practical, in-depth guide to achieving competitive new product development strategies I have ever read.

The book shows clearly how to answer the critical questions: 1) Where do we want to go, 2) How will we get there, and 3) Why will we be successful. It shows how to create a Core Strategic Vision that is the foundation for new product success. And it shows how to use that vision to create highly competitive and profitable product lines, particularly in high technology.

Having tested new product ideas for hundreds of companies over the last 25 years, it is difficult to think of more than a handful who couldn't have benefited from not only reading this book, but doing what it recommends.

Rating:
Summary: watch out cost to implement in ur office before do it
Review: For example, author addressed the benefits to have a product platform strategy are focusing managemnet on key decision at the right time;enabling products to be deployed rapidly and consistently; encouraging a longer-term view of product strategy; leveraging significant operational efficiencies; helping management anticipate replacing a major product platform.

However, he may forget to remind readers that these require cost before enjoying the benefits, such as you need to hire a new tier of middle management if you company is too small to afford before; to establish the new channel capabilities to justify the investment on the platform bcz to access new markets; the IT system to calculate operation efficiencies such as engineering head count, material cost, and supply chain cost is also not cheap if you only have the option to use turn-key solution.....

It may be reasonable to equip product platform strategy only when benefits are greater than costs.

Rating:
Summary: targeted for core products at large companies
Review: I love this book: the concept of a "vector" for product
development is a terrific way to think about competition.
IMHO, this book is a must-read for all product managers,
product marketers and people involved in strategic decisions,
i.e. all senior executives.

That said, speaking as a five-time startup engineer, the advice
and examples in this book seem geared towards the core product
lines in larger companies, where you can credibly talk about
"two years from now" as opposed to wondering if you'll even be
in business, which is also the problem for new product lines at
large companies. The experience for the book comes from the
PRTM consulting firm, which was made famous for their work with
parallel product development at Intel. We hired them in the
early days at Inktomi, and found mixed success with their
process because we were terrified of immediate failure, and
they wanted to talk about version 3. Obviously, there's a
successful middle ground because Inktomi was a huge success in
the short term, but ultimately lost its strategic direction.

Rating:
Summary: targeted for core products at large companies
Review: I love this book: the concept of a "vector" for product
development is a terrific way to think about competition.
IMHO, this book is a must-read for all product managers,
product marketers and people involved in strategic decisions,
i.e. all senior executives.

That said, speaking as a five-time startup engineer, the advice
and examples in this book seem geared towards the core product
lines in larger companies, where you can credibly talk about
"two years from now" as opposed to wondering if you'll even be
in business, which is also the problem for new product lines at
large companies. The experience for the book comes from the
PRTM consulting firm, which was made famous for their work with
parallel product development at Intel. We hired them in the
early days at Inktomi, and found mixed success with their
process because we were terrified of immediate failure, and
they wanted to talk about version 3. Obviously, there's a
successful middle ground because Inktomi was a huge success in
the short term, but ultimately lost its strategic direction.

Rating:
Summary: Unmatched User Guide to High Tech Product Strategy
Review: In his richly illustrated Product Strategy for High Technology Companies, Michael E. McGrath rightly describes product strategy as a management process. Like any process, product strategy defines structure, timing, responsibilities, and skills. The process architecture reproduced on page 359 provides a practical framework starting with the definition of core strategic vision. Core strategic vision requires answering three questions: 1. Where do we want to go? 2. How will we get there? 3. And most critical Why will we be successful? Core strategic vision determines the criteria used for reaching a strategic balance in the product development process: Focus vs. diversification, short-term vs. long-term, current product platform vs. new product platform, business Alpha vs. business Beta, research vs. development, and high risk vs. low risk. Available resources influence the outlook of strategic balance.

Core strategic vision, strategic balance, core competencies, and competitive strategy are together the foundations on which the often-ignored product platform strategy is built. Product platform strategy is the lowest common denominator of relevant technology in a set of products or a product line. Product failures in high-tech companies frequently can be traced to an incomplete product platform strategy according to McGrath. Strategic balance, product platform strategy, and competitive strategy are together the foundations of product line strategy. Product line strategy is where specific product offerings are defined.

Core strategic vision also influences the competitive strategy that high technology companies must define. McGrath provides an in-depth, practical review of differentiation strategy, pricing strategy, and supporting strategies. Supporting strategies are first-to-market and fast-follower strategies, cannibalization, and global product strategy. McGrath's examination of both time-based strategies and cannibalization is particularly interesting because both subjects are rarely covered in such a luxury of detail. McGrath finally examines the optional expansion strategy and innovation strategy. High technology companies only need them if they want to invest in expansion or innovation.

To summarize, Product Strategy for High Technology Companies is a practical guide to a management process from which even product managers from outside the high tech industry can draw useful lessons and more importantly apply them to their own product strategy.

Rating:
Summary: Best Strategic Toolkit Ever Written
Review: There are countless strategy books out there. Each one has an overriding framework that the entire book is based on, that often warrants only a 15-page article. This book is loaded with practical frameworks that together provide a thinking and creativity-channeling approach. Better yet, every framework has been proven in practice at dozens of companies by the author's implementation-based consulting firm. Each chapter is filled with examples from a broad range of technology-based companies. When applying these frameworks outside of technology-based industries and large companies just use common sense to strip them down to their essence and don't worry about the fancy techno-speak. You can also use most chapters as stand-alone strategy tools. I personally like "vectors of differentiation" and wonder how so many companies blow it when it seems like common sense. But then again if common sense were common, books like this wouldn't be needed. And then there's the issue of actually implementing what you come up with...

Rating:
Summary: Best Strategic Toolkit Ever Written
Review: There are countless strategy books out there. Each one has an overriding framework that the entire book is based on, that often warrants only a 15-page article. This book is loaded with practical frameworks that together provide a thinking and creativity-channeling approach. Better yet, every framework has been proven in practice at dozens of companies by the author's implementation-based consulting firm. Each chapter is filled with examples from a broad range of technology-based companies. When applying these frameworks outside of technology-based industries and large companies just use common sense to strip them down to their essence and don't worry about the fancy techno-speak. You can also use most chapters as stand-alone strategy tools. I personally like "vectors of differentiation" and wonder how so many companies blow it when it seems like common sense. But then again if common sense were common, books like this wouldn't be needed. And then there's the issue of actually implementing what you come up with...

Rating:
Summary: Don't Just Read It, Do it!
Review: This is a key book that provides an innovative look at a critical subject. After infinite books on "how" to get products to market, here is a very valuable analysis of "what" to bring to market, how to leverage and extend a company's capability base. Product Strategy will have an enormous impact on the senior managers that read it and on the companies that implement its findings. It is full of useful methodologies and gripping examples, and provides a great balance of strategic vision and operational guidance.

Rating:
Summary: Unique Book Frames Critical Subject for Executives
Review: This is a key book that provides an innovative look at a critical subject. After infinite books on "how" to get products to market, here is a very valuable analysis of "what" to bring to market, how to leverage and extend a company's capability base. Product Strategy will have an enormous impact on the senior managers that read it and on the companies that implement its findings. It is full of useful methodologies and gripping examples, and provides a great balance of strategic vision and operational guidance.

Rating:
Summary: A Critical Capability for Today's Competitive World
Review: Translating a strategic vision into a family of world-class product offerings is a capability that many companies do not possess. Michael McGrath lays out a clear and concise framework for how a company can establish this critical capability. All too often, a company will develop a series of products, on a one-off basis, that are only loosely, if at all, coupled with the company's vision of where it wants to go. This is a sure formula for disaster in today's competitive world. Drawing on examples from many different industries, McGrath shows how a company can establish a flexible and robust approach to this "fuzzy front end" of product development.

In my own work, I have had the opportunity to deploy the ideas and concepts contained in this book. I have found them to be extremely powerful and highly recommend them to all product development executives and professionals.