A product strategist is a specific type of marketer who deals with all portions of selling a particular product or product line. The strategist will set the product price, distinguish the product’s unique characteristics, identify the proper market for the product, and set the overall goal for the product or product line. He or she will develop the entire marketing program and oversee the program’s effectiveness.
Product strategists track product performance, conduct market research, and recommended changes to the product itself, the marketing plan, or the overall product objective. He or she oversees the product development team, and the sales teams. Strategists are also responsible for providing feedback to product development teams; educating potential customers on the benefits and features of the product or product line; carrying out product demonstrations; and further promoting the product with a web presence.
Product strategists are required to hold a Bachelor’s degree in marketing, advertising, PR, or other related field. A Master’s degree in business administration with a concentration in the field of marketing is preferred. For products that are technical in nature, a degree in science or engineering may also be required or recommended.
Other needed skills include: multi-tasking skills, communication skills, motivational skills, computer skills, staffing skills, research skills, branding skills, and advertising skills. Strategists who have a great deal of education and work experience can be promoted to upper management or executive positions.
The typical average salary of an entry-level product strategist is about $49,360 per year.