Product Mgt - terms and techniques

Question 1

What are the 5 steps to launching a new feature

Answer 1

1. User Research & Market Analysis
2. Defining the Scope & Value Proposition
3. Prioritization & Roadmap Integration
4. Feature Design & Development
5. Launch & Ongoing Optimization

Throughout:
Data-driven decisions, iterat’ approach, x-funct’ collab’

Question 2

What are the 5 steps to launching a new feature….

**Explain step 2 (Defining the Scope & Value Proposition)

Answer 2

• Based on the research, clearly define the specific mental health needs our target users have that this feature could address.
• Craft a compelling value proposition that differentiates our offering from existing solutions, highlighting unique features or benefits.

Question 3

What are the 5 steps to launching a new feature….

**Explain step 3 (Prioritization & Roadmap Integration)

Answer 3

• Evaluate the feature’s alignment with our overall product vision and roadmap, considering its potential impact on user engagement, business goals, and resource allocation.
• Prioritize the feature development within the roadmap, considering potential dependencies and technical feasibility.

Question 4

What are the 5 steps to launching a new feature….

**Explain step 4 (Feature Design & Development)

Answer 4

• Collaborate with designers and engineers to develop a user-friendly and intuitive design.
• Ensure the feature integrates seamlessly with the existing solution and adheres to industry best practices for privacy and security.

Question 5

What are the 5 steps to launching a new feature….

**Explain step 5 (Launch & Ongoing Optimization)

Answer 5

• Develop a comprehensive launch plan, including pre-launch communication, user onboarding strategies, and marketing efforts.
• Continuously monitor user engagement and feature performance through data analysis and feedback channels.
• Conduct A/B testing and iterate on the feature based on user feedback and data insights to optimize its effectiveness and impact.

Question 6

terminology

User Engagement

Answer 6

The level of interaction and involvement users have with a product or service.

Frequency, Depth, Duration, Sentiment

User Engagement is a fancy term for User enthusiasm.

Question 7

User engagement

List some ways to measure User engagement

Answer 7

• Website traffic and session duration
• App downloads and usage time
• Number of clicks, shares, and comments
• Completion rates for features and tasks
• User feedback and sentiment analysis

Question 8

terminology

Value Proposition

Answer 8

A value proposition is a concise statement that clearly explains why a customer should choose your product or service over your competitors. It’s essentially a promise of value that you make to your target audience

Question 9

terminology

Adoption

Answer 9

The process by which people learn about, start using, and eventually integrate a new product or feature into their lives. It’s the journey from initial awareness to regular and meaningful use.

Question 10

Explain the 6 steps of Product adoption

Answer 10

1. Awareness
2. Interest
3. Consideration
4. Trial
5. Adoption
6. Advocacy

Question 11

terminology

Advocacy

Answer 11

Satisfied users become vocal supporters of the product and recommend it to others. This stage represents true loyalty and can significantly boost user acquisition through organic growth.

Advocacy falls under adoption of a product

Question 12

terminology

**Acquisition

Answer 12

Attracting of new users and drive adoption of a particular product or service.

expanding the reach of a product & building a larger, engaged user base

Question 13

calculations

How do you work out weighted averages?

Answer 13

multiply each item (e.g. number x value)
Sum the items totals
Divide by the number of items

Question 14

Calculation

On a Profit : Revenue graph which item goes on the x axis?

Answer 14

Revenue