Question

Topic: Strategy

Examples Of Product Mission Statements?

Posted by Anonymous on 10/3/2008 at 2:29 PM ET 125 Points
I've been asked to generate product mission statement for several product lines. I've generally thought of mission statements as a company-wide initiative, with goals relating to functional areas, strategy related to product, and tactics the activities and vehicles to accomplish, ultimately the mission of a company.

How do product mission statements fit here? What goes into a good product mission statement?
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RESPONSES

  • Posted by SteveByrneMarketing on 10/4/2008 at 3:37 PM Accepted
    Perhaps you are really looking for a brand "positioning" statement. For example, when the Vicks Company announced a new brand called NyQuil, the brand "positioning" statement was cold medicine relief for night time use. They effectively re-positioned all other cold medicines as day time use solutions.
  • Posted on 10/6/2008 at 11:40 AM Accepted
    Do you have a corporate mission statement? If you do you should also consider vision and values. A mission states what your company is about and its ties internal an external. A vision is how you see your company on a long term. Values of course represent those things important to your company your beliefs. A product mission has to be closely related with the company mission as it is a by-result of it. Perhaps, your concern is mostly a strategic statement connected with the product objectives in a year. What you expect to sell, or what market share you expect to attain in a given period of time. Then comes strategy which involves positioning determining target group, category in which competing, and differentiation of your products. Then you need an action plan establishing who is responsible for what and specific dates.
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