The Importance of Product Thinking in Project Management

Product thinking is an approach to product implementation that focuses on maximizing a product's value for its target audience by analyzing existing solutions, defining an algorithm of actions that makes the new product popular and in demand among the general public, and creating truly user-centric products that are viable and competitive for many years to come.

While design thinking focuses on solving particular problems that end users face, product thinking identifies these problems and prioritizes their solution (and answers the question of whether they need to be solved at all). That is, the whole product thinking actually determines the scope of work that is then carried out with the help of design thinking.

Product thinking is important because it is responsible for exploring and understanding the goals and needs of end users, analyzing the advantages and disadvantages of competitors, forming and creating hypotheses and solutions aimed at providing real value to the product, as well as applying existing expertise in new products. The result of effective product thinking is a successful product that is loved by its target audience and has outstanding features that competitors will strive to copy, ensuring the viability of the product for many years to come and guaranteeing its high profitability for its owners.