These P’s represent core values that make up the foundation of marketing

Ongoing iteration based on user feedback and strategic goals.

With a product in the market, enhancements, expansions, and changes will be driven by user feedback via various channels. Over time the product roadmap will evolve based on this learning and the objectives the company sets for this product. This work never ends until it’s finally time to sunset a product at the end of its lifecycle.
How to Create a Product Development Plan in 3 Steps
Not to be confused with a project plan, a product development plan encompasses the overarching journey from idea to market. It should include and engage as many stakeholders as possible to ensure all of their specific needs, requirements, and concerns are being considered (if not addressed).
1. Start with a product vision.
It begins with a product vision, which aligns everyone around the shared objective for this product. This is followed by a product mission—the ultimate purpose of the product, who it is for, and what it does for them. Finally, it establishes some guiding principles for the work to come.
With product vision and mission statements in hand, primary goals for the product can be established. These may be a little fuzzier in the early stages, such as finding product-market fit, but they can rapidly evolve into measurable KPIs or OKRs. These measurable targets help shape which features, enhancements, and capabilities the product needs to achieve them.
2. Craft a roadmap.
Assuming customer research and validation has already occurred, the product team can then craft a product roadmap, prioritizing the significant themes to be addressed (we’ll dive further into product roadmaps next). Date-based milestones and targets can be established, but there should be a minimal focus on dates and maximum attention paid to creating value and adapting to the product goals and performance against key metrics.
3. Implement the roadmap for maximum impact.
Once the product roadmap is agreed upon, it’s time to make things happen. Implementation teams can create schedules, break down significant themes into sprints, and generate iterations of the product. This creates a feedback loop from customers, the sales team, and support, identifying new opportunities, pointing out shortcomings, and shining a light on areas to hone, improve, and expand.
From here, it’s a cycle of reviewing data, synthesizing feedback, and continually updating the product roadmap while grooming the product backlog to ensure every development cycle is utilized for maximum impact.