Anthony W. Ulwick

FORMULATE THE MARKET STRATEGY In the fifth phase of an ODI engagement, the ODI practitioner uses the information resulting from the

previously conducted data analyses to formulate a market strategy. The market strategy is usually constructed in conjunction with the project team.
The goal of this phase is to formulate, document, present, refine, and gain cross-functional agreement on the market strategy.

The 12 steps that the ODI Practitioner must take to effectively execute the fifth phase of a project are as follows:

63. 
    Determine the strengths of existing and pipeline products (team exercise)
    
64. 
    Determine what outcome-based segments and outcomes to target
    
65. 
    Define the value proposition for each outcome-based segment
    
66. 
    Define the value proposition for the product category
    
67. 
    Determine what existing and pipeline products to target at each segment
    
68. 
    Determine how to message each product
    
69. 
    Determine how to integrate the new value proposition into existing company promotional channels/materials, e.g., the website, etc.
    
70. 
    Propose an outcome-based digital marketing strategy, e.g., AdWords campaign, SEO optimization, etc.
    
71. 
    Create a customer acquisition tool that assigns customers to segments
    
72. 
    Gain the project team’s agreement on the market strategy
    
73. 
    Create the market strategy deliverable
    
74. 
    Educate the sales/marketing team on executing the market strategy
    

In this phase of the project the ODI practitioner is a project manager, a data analyst, a strategist, a facilitator, and a team builder.

6. FORMULATE THE PRODUCT STRATEGY

In the sixth and final phase of an ODI engagement, the ODI practitioner uses the information resulting from the previously conducted data analyses to formulate a product strategy. The product strategy, like the market strategy, is usually constructed in conjunction with the project team.

The goal of this final phase is to formulate, document, present, refine, and gain cross-functional agreement on the product strategy.

The 10 steps that the ODI Practitioner must take to effectively execute the fifth phase of a project are as follows:

75. 
    Determine the weaknesses of existing and pipeline products (team exercise)
    
76. 
    Determine what outcomes to target to address competitive weaknesses
    
77. 
    Determine what value creation opportunities to address in each segment
    
78. 
    Determine what cost reduction opportunities to address in each segment
    
79. 
    Facilitate ideation to improve existing products
    
80. 
    Facilitate ideation to improve pipeline products
    
81. 
    Facilitate ideation to conceptualize new products/platforms
    
82. 
    Gain the project team’s agreement on the product strategy
    
83. 
    Create the product strategy deliverable for each product
    
84. 
    Create the product strategy deliverable for the product portfolio
    

In this phase of the project the ODI practitioner is a project manager, a data analyst, a strategist, a facilitator, and a team builder.