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twitterNowadays product strategy plays a vital role in the marketing field. Strategy is the key point for product development. By learning product strategy courses candidates will be able to decide the product's vision and the tactics necessary to realise that vision. Various institutes like IIM Kozhikode offer UG and PG product strategy courses in online and offline modes. There are also free online product strategy courses available for you. The educational websites that offer these product strategy courses are Udemy and Edx. After completing the product strategy online courses and brand strategy courses , candidates can enhance their skills and get placed in top reputed companies in various industries in different roles such as data analyst, product manager, business analyst, and product strategy analyst.
Also Read:
- Product Design Certification Courses
- Production Management Certification Courses
- Product Management Certification Courses
What is Product Strategy?
Product strategy course refers to the process of planning and establishing how and what you intend to achieve with your product. It occurs during the early stages of product development when you decide on the product's vision and the tactics necessary to realise that vision. The first stage is to identify the 'why' of your product before the 'what', 'when', and 'how'. To develop a solid product strategy, you must first understand the market in which you are going to operate. Company, collaborators, customers, competitors, and context are the types of product strategy. There are five various types of product strategies: cost, differentiation, focus, quality, and service. Let's go over these in detail.
- Cost strategy
- Quality Strategy
- Focus Strategy
- Service Strategy
- Differentiation Strategy
Who can Pursue Product Strategy Courses?
You can pursue the product strategy courses and product strategy certification courses, if:
- You are interested in the marketing domain and branding
- You are interested and want to become a product strategist
- You need to be able to manage the product development process
- You are capable to study and to understand the process of planning and establishing a product
Eligibility Criteria Product Strategy Courses
In order to assist you improve your professional skills, this field offers a number of certification courses in addition to UG and PG degrees. Students who want to pursue a career in product strategy after high school can select product strategy courses and product leadership courses along with brand strategy courses online. Depending on the college the student chooses, there are certain requirements and occasionally an entrance exam for admission to both UG and PG programmes. Below are the requirements for UG, and PG courses for product strategy courses.
Eligibility Criteria for UG Courses:
To be eligible for UG-level product strategy courses, candidates must have completed 10+2 from an accredited board and received at least 50 per cent of the total. Students may also be required to take entrance examinations by colleges.
Eligibility Criteria for PG Courses:
- To be eligible for graduate studies, candidates must have a bachelor's degree from a college or university with a minimum grade point average of 55 percent. Students will have to take admissions exams if colleges or institutions do.
- Candidates who have completed their graduation in any discipline are eligible to pursue PG-level product management courses such as PG Diploma in Product Management, MBA in Product Management, or Executive Diploma in Pharmaceutical Product Management.
Entrance Exams for Product Strategy Courses
For admission to product strategy courses, particularly those offered through B.Tech. and M.Tech. programmes, some universities, and institutions may require candidates to take an entrance exam. The following are the exams required for enrollment in product strategy courses:
Skills Required for Product Strategy Courses
Students need to develop particular skills within themselves in order to excel in product strategy courses if they want to effectively complete their product strategy courses. These skills will help them score better and also increase their practical comprehension. Here are some examples of skills:
- Agile
- Sales
- Mentoring
- Tableau
- Forecasting
- Microsoft Excel
- Product Strategy
- English Speaking
- Financial Modeling
- Project Management
- Product Management
- Roadmapping
- Strategic thinking skills
- Data analytics and research skills
What You Will Learn in Product Strategy Courses?
The primary objective of the product strategy courses is to provide students with a basic knowledge of product strategy so they are able to resolve challenges connected to product development and approach problem-solving more rationally and professionally. The target audience for this product strategy programme is business managers or other executives who have to deal with product management and strategy. The topics covered in the courses are shown below:
- Buyers Persona
- Competitors
- Market place
- Company Weaknesses
- Company Strengths
- Go-To-Market plan
- Brand Strategy
Popular Product Strategy Certification Courses
Several educational technology companies, including Udemy, and Edx, provide online product strategy certification courses. Some of the best product strategy courses and product strategy courses free courses are listed here.
Course | Offered By | Duration | Cost |
Innovation: From Plan to Product | 10 Weeks | Free | |
Product Design, Prototyping, and Testing | UMD via Edx | 4 weeks | Free |
Modern Product Leadership | UMD via Edx | 4 Weeks | Free |
New Product Strategy - The Masterclass | Offered by Udemy | Self-Study | Rs.1299 |
Career Opportunities of Product Strategy Courses
Professionals will have a variety of work opportunities in both private and public entities after completing the product strategy courses. A product development plan offers a structure for developing new goods or enhancing the functionality, value, or quality of already-existing ones. The approach aids a business in achieving objectives including expanding into new markets, increasing sales to current clients, or luring clients away from rivals. They are able to apply for jobs as below:
- Senior Analyst
- Data Analyst
- Product Manager
- Business Analyst
- Product Strategy Analyst
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Salary Trends in Product Strategy Courses
Product strategy professionals and experienced workers might be compensated based on their skills and work experience. In the table below, you can learn about the many work opportunities and typical salaries available to students who complete product strategy courses.
Job Profile | Salary |
Product Strategy Analyst | Rs. 6.1L to Rs. 25.0L(approx…) |
Product Manager | Rs. 3.9L to Rs. 34.1L(approx…) |
Data Analyst | Rs. 2.0L to Rs. 14.1L(approx…) |
Senior Analyst | Rs. 4.0L to Rs. 19.1L(approx…) |
Business Analyst | Rs. 2.5L to Rs. 17.1L(approx…) |
Analyst | Rs. 2.2L to Rs. 14.5L(approx…) |
Research Analyst | Rs. 1.7L to Rs. 10.1L(approx…) |
Product Owner | Rs. 7.4L to Rs. 34.0L(approx…) |
Senior Business | Rs. 4.4L to Rs. 24.0L(approx…) |
Scope of Product Strategy Courses
A new approach to customer service needs to be adopted to eliminate misunderstandings in product strategy and vision. Product management methods and processes are more important than ever before, and it assists you in developing an idea for the future of your product, such as what type of product it will be, who it will benefit (who its users are), how it will fit into the market, how it will bring value to your customers, and how it will help you achieve your goals. Candidates who have completed the product strategy courses are qualified for a number of positions. As the market is flooded with plenty of products, the companies need professionals who have a clear strategy to make the products noticeable in the market attracting more customers. Jobs in product strategy include senior analyst, data analyst, product manager, and business analyst.
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Top Recruiters for Product Strategy Courses
Professionals who have completed online product strategy courses are in high demand, and practically all of those who complete them end up working for the most popular corporations in India and throughout the world. Some of the businesses that provide product strategy courses for recruitment are listed below:
- Accenture
- K Raheja Corp
- JP Morgan Chase
- Wipro
- Flipkart
- Honda cars
- Makrocare
- ICICI Bank
- HDFC Bank
- Axis Bank
- TCS
- Oracle
- Paytm
- Walmart
- Dell
- Microsoft
- Cisco
- HCL
- IBM
- Deloitte
- Real Estate
- IT Services and Consulting
- Automobile
- FinTech
- Pharma
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Product Strategy Courses By Top Providers
Many online learning websites, including Udemy and Edx, provide free product strategy courses. The following is a list of some of the most well-known educators of product strategy courses and free online product strategy courses with certification in India.
FAQs:
Q: What are the highest-paying sectors for product strategy analysts in India?
Ans: The highest paying industries for product strategy analysts in India include fintech, real estate, automobile, IT services and consultancy, and pharma.
Q: What are the highest-paid cities in India for product strategy analysts?
Ans: The top-paying cities in India for product strategy analysts are Kolkata, Bengaluru, Mumbai, Noida, and Hyderabad.
Q: What are the most important qualities of a product manager?
Ans: A Product Manager's top skills are agile, product management, project management, product strategy, and sales.
Q: What is the function of product strategy?
Ans: Product Strategist identifies new prospects, evaluates product performance, and assists in the development of long-term strategic strategies for future product lines. This distinguishes the position from that of Product Manager (PM), however, the two will collaborate.
Q: How many different types of product strategies are there?
Ans: Product strategies include quality strategy, cost strategy, focus strategy, differentiation strategy, and service strategy.
Q: What is the average salary for a product manager?
Ans: Product Manager salary in India ranges from Rs. 5.2 Lakhs to Rs. 35.2 Lakhs per year, with an average yearly income of Rs. 17.0 Lakhs.
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