Product vision demystified
If you’re actually building a product for people you will use your product vision to make pragmatic decisions and keep them aligned.
Product strategy and vision define your customer, including how broad or niche your segment is.
From there you can determine how much value you can bring to an individual customer. This defines your investment in customer experience, your pricing and your marketing.
Mass products choose to drive their prices down and make money on volumes. Their message to the market is: We’re committed to making our product affordable because we want to help many people.
Niche products deliberately limit their audience because this allows them to do a better job for a smaller segment and charge more for it.
Price of your product must be proportionate to the value it brings.
Next — pick your marketing style. Niche products use the higher margin to make their marketing more sophisticated. This way, their premium user experience begins even before the purchase.
Engrave this in your mind: vision → market breadth → individual value → pricing → marketing
Don’t try to twist this flow — it will backfire.