Product thinking and design thinking are both approaches used to develop and bring new products to the market. Although pretty similar, they do have some key differences.
Product thinking is focused on the business and technical aspects of product development, such as defining the target market, conducting market research, creating product requirements, and determining the product roadmap. It is more concerned with the commercial viability and profitability of the product. Product thinking focuses a lot more on the actual product being built.
Design thinking, on the other hand, is focused on the user and their experience with the product. It involves understanding user needs, behaviours, and emotions, and using this understanding to create solutions that meet their needs in a meaningful and desirable way. Design thinking places a strong emphasis on prototyping and iterating, using feedback from users to refine the product and make it more user-centered. Design thinking focuses on users.
In summary, product thinking is more focused on business and technology, while design thinking is more focused on the user and their experience. Both approaches are important and complementary and can be used together to create successful products that meet both business and user needs.