What is Product Vision? Advantages and Examples

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What is Product Vision? 

It is important for product vision to be clear and concise. Product Vision Statements are written at the beginning of a project to help guide development, but it can also come in handy if you’re looking for an early indicator that your idea might not work out as planned!

Product visions need to be succinct so they don’t get lost amidst all those other great ideas floating around up there on the whiteboard – no one has time or space enough! But sometimes we find ourselves with more than just one good idea coming our way, which means too many options rather than deciding what to do next. So make sure everyone understands their role well from day 1 by writing down something like this:  “This product will solve X problem because Y people want Z.”

What are the advantages of Product Vision? 

Without clarity, product teams can face the issue of stagnancy. It would be difficult to gauge the next step to be taken in the process. 

Moreover, some teams are even likely to lack consistency towards a focused goal and change paths without a clear vision. Hence, to avoid such inconvenience, it is recommended to have a Product Vision right at the beginning. 

Product vision orients and motivates the team by showing them how their work can actually solve an existing problem. This eliminates boredom because it shows the team how their efforts are actually making a difference. 

An effective product vision helps to build an excellent product strategy, which can enhance the consumer experience. Moreover, it helps to look at the bigger picture and the potential impact the product can have in the future. 

What are the examples of Product Vision? 

Consider any company and you’ll know that each company has a product vision that they demonstrate through and through the services or products they offer. Following are some of the examples of famous companies and their product vision: 

  • SpaceX: To carry out space expeditions and advance the technology to be able to live on other planets. 
  • Instagram: To be able to transform mediocre looking mobile-photos into professional looking snapshots. 
  • Tesla: To create transportation technology that is eco-friendly and affordable at the same time.
  • Netflix: To be able to create a market for filmmakers and become the entertainment distribution service. 

When do you need a product vision?

Once you have identified the problem you want to cater to and you are also sure that you are going to invest your resources to find a solution to that problem, that’s when your Product Vision comes into picture

It is important to begin the development process with a product vision so that you can fix your focus on the target outcome you wish to accomplish. 

Having said that, don’t worry if you feel like modifying your product vision time and again. That’s the part of learning and growing. 

Even if you start with a different vision and end up somewhere different, the product vision statement is what will provide you with a clear understanding of the goal for which you are working. 

FAQs

Q: What is a Product vision?

A: Product vision, also known as Product Vision Statement, gives clarity and helps to view the impact of the product with a bigger picture. It depicts the goal of your product, what problem it aims to solve, what kind of population it is going to benefit, and why it is needed. 

Q: What is the example of Product vision?

A: For example, the Product vision statement of SpaceX is as follows: To carry out space expeditions and advance the technology to be able to live on other planets. 

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