Exam (elaborations)
Agile Product Manager Questions and Answers 2024
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Agile Product Manager
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Agile Product ManagerDesign Thinking - answerAn iterative Solution development process that promotes a
holistic approach to delighting all stakeholders
two broad motivations for research - answerUnderstand : Market research
Focuses on the who, what , and why
• Determines concepts , opinions, and values
• Assesses value provided and what internal/external customers will pay
• Influences marketing and sales
Design: User Research
Focuses on the how
• Observes and evaluates what
customers and users do
• Determines how customers use or will use the product
• Influences Capabilities and Features
Continuous Exploration (CE) - answerThe process that fosters innovation and builds
alignment on what should be built by continually exploring market and Customer needs
and defining a Vision, Roadmap , and set of Features for a Solution that addresses
those needs.
Core questions for new products - answer► Do customers recognize that they have the
problem you are trying to solve?
► What are they doing to try and solve it now?
► If there was a Solution , would they buy it?
► Would they buy it from us?
► Can we build a Solution for that problem?
► How can we differentiate our Value Stream?
Core questions for products in the growth phase - answerHow should our product
change to meet changing expectations?
Is our product growing well? If not, is the product failing or are we in a 'chasm '? If we
are in a chasm ,
what do we need to do to cross it?
Has our success changed the macro-environment? How are competitors responding?
Core questions for mature Solutions - answer► Is this segment still attractive?
► How can we further extract profit from superior operations?
► Have we lost sight of the core challenges facing our Customers?
► Is it time to exit this product/segment and invest elsewhere?
, Secondary Data - answer. Typically, previously collected and published data
. May or may not address specific question(s)
Free or Inexpensive
. Usage Analytics/Product Government data Libraries
For sale, often focused on specific markets, can be very expensive:
Syndicated or private data
May have more detailed analysis
Primary Data - answer. Custom designed and implemented to answer specific
question(s), as best as possible
Qualitative
. Usage Analytics/Product Government data Libraries
. Empathy interv iews
. Simple surveys
. Gemba-go and see!
. Innovation Games® .Customer advisory boards .
Quantitative
. A/B testing
. Questionnaires/surveys
. Choice modeling , conjoint analysis
Strengths of Qualitative Research - answer► In-person techniques tend to generate
deeper understanding through contextual data and non-verbal communication
► Can strengthen Customer relationships, especially in B2B and B2P markets
► Builds Customer empathy within the team doing the research
► Creates vivid, concrete language and commitment to solve Customers'
problems
► Forms the foundation of innovation by letting you explore 'what you don't know you
don't know'
Weaknesses of Qualitative Research - answer► Is less objective than other market
research methods
► Does not scale to large numbers of people
► Is not statistically significant; however, statistical significance is often not needed in
B2B markets
► Is relatively costly on a per customer cost basis but is often relatively cheap in terms
of actionable results
Complex, large solutions often have: - answer► Relatively small numbers of Customers
► A small number of transactions with each Customer
► Transactions costing hundreds of thousands to millions of dollars
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