Other product concepts

Question 1

Melissa Perri’s Product Kata

Answer 1

Strategy creation & deployment

1. Understands the Direction (company vision & strategic intent, product initiatives)
   What challenges are you striving to meet?
2. Analyze the Current State (current state of intents, the current state of initiative/product)
   What is the process’s current pattern?
3. Set the next goal (product initiative, option goal)
   What pattern do you want to have next?

Execution
4. Chose Step of Product Process (problem exploration, solution exploration, solution optimization)
The step-by-step discovery process between where you are and where you want to be next.

Question 2

Criteria for judging your competitors

Answer 2

1. Product team
2. Design
3. Brand
4. User base
5. Speed
6. Funding
7. Acquisitions
8. New features / new product launches

Question 3

Type of competitors

Answer 3

1. Direct - same customer group and same problem (try to be competitive to these)
2. Indirect - they solve the same problem in a different way; different customer group, but maybe overlapping (not losing too many customers to them)
3. Potential - they address the same customer group, but a a different problem (can’t to easily the same thing as you)
4. Substitute - solve the same core problem, but with a different approach and different group of customers; their solution can be substituted with yours (should be better than these)

Question 4

How to size the market

Answer 4

1. Top-down - based on finding the total market and then estimating your share of that market; the more optimistic approach.
2. Bottom-up - based on thinking about the current sales of similar products and estimating how much of these sales you can capture; more conservative approach

Question 5

Ansoff Matrix

Answer 5

The Ansoff Matrix (also known as the Product-Service Matrix) is a tool that helps Product teams in strategic planning and in defining the company’s goals.

It has 4 quadrants:
1. Market penetration
2. Market development
3. Product development
4. Product diversification

Question 6

What is Bullseye Framework

Answer 6

The bullseye framework is a structure with a target format with 3 levels, used to define the most suitable traction channels for the business acquisition strategy.

This tool is based on a set of 19 channels, from which the team must choose the best ones (after all, a company would hardly be able to handle all the channels contained in the bullseye framework ).

Question 7

Business Analysis

Answer 7

The practice of enabling change in an enterprise by defining needs and
recommending solutions that deliver value to stakeholders

Question 8

Evidence-Based Management (EBM)

Answer 8

Evidence-Based Management (EBM) is an empirical approach that helps organizations to
continuously improve customer outcomes, organizational capabilities, and business results
under conditions of uncertainty. It provides a framework for organizations to improve their
ability to deliver value in an uncertain world, seeking a path toward strategic goals. Using
intentional experimentation and evidence (measures), EBM enables organizations to
systematically improve their performance over time and refine their goals based on better
information.

Question 9

EBM stands for?

Answer 9

Evidence-Based Management

Question 10

On-product index

Answer 10

An on-product index is the measure of time a team spends working on the product. This KPI measures the efficiency of how a team is run and how much they’re contributing to a product’s growth. By reducing unnecessary meetings and other distractions, you can increase a team’s on-product index, which will “buy time” to work on valuable things.

Question 11

Gartner bimodal IT model

Answer 11

According to Gartner, “Bimodal IT is the practice of managing two separate, coherent modes of IT delivery, one focused on stability and the other on agility. Mode 1 is traditional and sequential, emphasizing safety and accuracy. Mode 2 is exploratory and nonlinear, emphasizing agility and speed.

Question 12

Gemba Walk

Answer 12

A Gemba Walk is a workplace walkthrough which aims to observe employees, ask about their tasks, and identify productivity gains. Gemba Walk is derived from the Japanese word “Gemba” or “Gembutsu” which means “the real place”, so it is often literally defined as the act of seeing where the actual work happens.