This document outlines a strategy for developing genomic reference materials (GIAB). It discusses identifying the principles that will guide product development decisions, including the unique value GIAB provides through open access to data, materials and analyses. It addresses how comprehensive a GIAB call set needs to be and what is required to generate a GIAB genome product, such as sequencing and characterization. The document also covers commitments to ongoing maintenance and making improvements, with ambitions for more genomes, somatic references and finished assemblies. The overall goal is to establish a strategic framework for GIAB product development.