Product Strategy Step Four - Allocate Financial and Human Resources

Zeroing in on the shortened and focused list of strategic opportunities which are also positive NPV projects helps your business determine the financial and human resources required for each project. Further, assessing the strategic opportunity as per the last step helps you determine whether you will need more engineers / engineers with specific technology skill sets or whether you will need product management / sales & marketing personnel for these strategic projects.

In other words, it helps your business assess the breadth and depth of complementary assets needed to make your product strategy a commercial success. Accordingly, you can allocate your new product development budget across these resources, or engage outside firms in mutually profitable contracts to execute your strategy. An outside firm with the needed complementary assets could be an offshored operation in India for product development, or a VAR (value added reseller) in United States with well developed distribution channels  and savvy sales personnel.

Once the budget is thus allocated, you need to devise a plan to implement your product strategy. This is is the final step.