What is the #1 reason for new product failure? - ANS Weak value proposition and/or differentiation
What are other reasons for new product failure? - ANS Insufficient up-front homework, lack of customer input, scope creep, functional silos, lack of focus, lack of competency
What are th...
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,What is the #1 reason for new product failure? - ANS Weak value proposition and/or
differentiation
What are other reasons for new product failure? - ANS Insufficient up-front homework, lack of
customer input, scope creep, functional silos, lack of focus, lack of competency
What are the four "Ps" of Marketing? - ANS Product, Price, Place, Promotion
What is Promotion? - ANS How to market the product
What is Place? - ANS Channel we sell product to customers on
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What is Price? - ANS Pricing strategy i.e. chargebacks
What does a product lifecycle management include? - ANS 1) Determining likely models for
each product (understanding potential revenue and cash flow patterns) 2) Identifying when
product needs support, redesign, renewal, withdrawal
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What are the benefits of product life cycle management? - ANS 1) Provides input to strategic
marketing planning and portfolio management 2) Provides insight into tactical requirements
Best to what and on what drives product success? - ANS Best to market, on time
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What drives on-time launch? - ANS Cross-functional teams
What drives profitability? - ANS Unique, superior product quality
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What are the 7 keys to successful product management? - ANS 1) Customer focus 2)
Front-end loaded 3) Positioning 4) Product strategy and roadmap 5) CFT 6) Investment
mind-set 7) Metrics, accountability, and continuous improvement
What is a product manager typically more focused on? - ANS Marketing-focused and
externally-facing
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What is a product owner typically more focused on? - ANS Engineering-focused and
internally-facing
How do a Project Manager and Product Manager role differ? - ANS A project manager should
manage work. A product manager should manage assets.
What is the best measure of progress for software products? - ANS Working software
What is one important thing sprint retros can be used for? - ANS Coming back to story point
estimates and looking at how to improve forecasting for future sprints
, What are the responsibilities of a Product Manager? - ANS 1) To be market/customer-facing
2) To be collocated and typically reports to marketing/business 3) Focuses on market segments,
portfolio, positioning and ROI 4) Collaborates with POs 4) Owns the vision 5) Drives the release
What are the responsibilities of the Product Owner? - ANS 1) To be product/technology-facing
2) To be collocated & typically reports to development/technology 4) Focuses on product and
implementation technology 5) Collaborates with PdMs 4) Owns the implementation 5) Drives the
iteration
What are the basic product lifecycle stages? - ANS 1) Introduction 2) Growth 3) Maturity 4)
Decline
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What is market share? - ANS The portion of a market controlled by a particular company or
product (how much of the market you own). Y-axis
What is market growth? - ANS How fast new customers are coming into a particular market.
X-axis
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What is an example of a question mark product? (Google product line) - ANS
What is an example of a star product? (Google product line) - ANS Youtube
Google Play
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What is an example of a cash cow product? (Google product line) - ANS Google Search
What is an example of an out to pasture/dog product? (Google product line) - ANS Orkut
(Google Social Network)
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What is a Star product? - ANS Product that is a "star" in its market because it holds market
share and there is potential for growth in its market. Still continuously innovating to meet market
demands and to differentiate
What is a Question Mark product? - ANS Product that has low market share but has a high
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potential for market growth. We aren't certain yet about its customer segmentation because we
are still listening to the market. Still in investment phase.
BUILD strategy.
What is a Cash Cow product? - ANS Product that holds share & margins in its market, but
there is little potential for growth there. Important to reduce investment/costs here and invest in
Star products.
HOLD strategy.
What is a product that is Out to Pasture (Dog) - ANS Product that has low market share or
potential for market growth. Needs to be carefully considered for viability.
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