A good Product Vision and Strategy should have the following attributes12:
It describes who will use the product and what they would like to achieve. This helps to define the target market, the customer segments, and the user personas, as well as their needs, goals, and problems.
It describes how people will use the product to achieve potential outcomes. This helps to articulate the value proposition, the benefits, and the features of the product, as well as the assumptions and hypotheses that need to be validated.
It describes what value means in the context of the product, and how it can be measured. This helps to establish the objectives, the key results, and the metrics that will guide the product development and evaluation.
It is not necessary for a good Product Vision and Strategy to describe how the product compares to competitor products. This may be part of the market analysis or the competitive advantage, but it is not a core attribute of the Product Vision and Strategy. Moreover, focusing too much on the competitors may distract from the customer needs and the product value. References: 1: Product Vision, 2: Product Strategy
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