Product management glosary

Product Mission

What is Product Mission?

A product mission is a clear and concise statement that defines the purpose of a product, its target audience, and the value it provides to its users. It serves as a guiding principle for product managers, designers, developers, and other stakeholders involved in the development and management of a product. A well-defined product mission helps align the team's efforts, ensuring that everyone is working towards the same goal and that the product delivers the intended value to its users.

Importance of a Product Mission

Having a clear product mission is crucial for several reasons:

  • Alignment: A product mission ensures that all team members are aligned and working towards the same goal. This helps prevent miscommunication, conflicting priorities, and wasted resources.
  • Focus: A well-defined product mission helps the team stay focused on what's important and avoid getting sidetracked by irrelevant features or ideas.
  • Decision-making: A clear product mission serves as a decision-making tool, helping the team prioritize features, allocate resources, and make trade-offs.
  • Measurement: A product mission provides a benchmark against which the team can measure the success of the product and its features.
  • Communication: A clear product mission helps communicate the purpose and value of the product to stakeholders, users, and potential customers.

Components of a Product Mission

A well-crafted product mission statement should include the following components:

  1. Purpose: The reason the product exists and the problem it aims to solve.
  2. Target audience: The specific group of users or customers the product is designed for.
  3. Value proposition: The unique benefits and features that the product offers to its users, setting it apart from competitors.

Creating a Product Mission

Developing a product mission involves the following steps:

  1. Identify the problem: Start by clearly defining the problem your product aims to solve. This will help you understand the purpose of your product and the value it provides to users.
  2. Define the target audience: Determine the specific group of users or customers your product is designed for. This will help you tailor your product's features and messaging to their needs and preferences.
  3. Develop the value proposition: Identify the unique benefits and features your product offers to its users. This will help you differentiate your product from competitors and communicate its value to potential customers.
  4. Write the product mission statement: Combine the purpose, target audience, and value proposition into a clear and concise statement that communicates the essence of your product.
  5. Share and align: Share the product mission with your team and stakeholders, ensuring that everyone is aligned and working towards the same goal.

Examples of Product Missions

Here are some examples of product missions from well-known companies:

  • Slack: "To make work simpler, more pleasant, and more productive."
  • Evernote: "To help the world remember everything, communicate effectively, and get things done."
  • Spotify: "To unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it."

In conclusion, a well-defined product mission is essential for the success of any product. It helps align the team's efforts, maintain focus, guide decision-making, measure success, and communicate the product's value to users and stakeholders. By following the steps outlined above, you can create a clear and compelling product mission for your product.