Top 6 Product Strategy Interview Questions Flashcards
What Businesses Would You Build on Top of X?
Off the Top of My Head… I would take the following steps
Establish a List of Top Competitors (Foreign + Domestic)
Research Additional Business Lines from Competition (ie Uber & Uber Eats)
Run Cost Benefit Analysis
Present Findings to Team within 7 to 10 Business Days
Pro Tip: Don’t Reinvent the Wheel
How Would You Expand this Business to a Foreign Market?
Off the Top of My Head… I would take the following steps
Create a Shortlist (ie Top 3 or 5) of Viable Foreign Markets
Research Barriers to Entry from Existing Competitors
Determine Work Our Way In or Buy Our Way In
Present Findings to Team within 7 to 10 Business Days
How Would You Drive Down the Cost of X?
Off the Top of My Head… I would take the following steps
Aggregate Existing Costs
Determine Pros and Cons of Cost Cutting
Present Example 1 - Cost Cutting Was the Right Option
Present Example 2 - Cost Cutting Was the Wrong Option
Gather Supporting and Opposing Arguments for Cost Cutting from Team
Present Findings to Team within 7 to 10 Business Days
Imagine You Are the CEO of XYZ Co. What is Your Strategy for the Next 10 Years?
What Would End or Kill the Business in 10 Years
Offer New Products and Features to Offset the Threat
Acquire New Businesses to Offset the Threat (ie Facebook Acquiring Instagram)
PRO TIPS
You Do Not Know What You Do Not Know
Expect the Question
Create a Short List of Failed and/or Redundant Business
- Blockbuster Versus Netflix (Content Creator)
- Match.com or eHarmony Versus Tinder, or Dating Apps (Mobile)
- Facebook Acquiring Instagram
Capturing the Next Generation of Users
How Would You Revolutionize the Car Wash Industry?
How and When Do Car Washes Make Money?
Determine Customer Pain Points
Busiest Time for Car Wash is the Weekend
Best Time for Customers to Schedule Car Wash is on the Weekdays
Build an App for Car Wash Owners and Car Wash Customers
App Would Allow Customers to Schedule Car Wash Pick Up and Drop Off
How Can Tesla Sell More Cars?
Review the KPIs for Success of Tesla in Past 2 Quarters
New Factories (Giga Austin and Giga Berlin) ~ Margin of Impact
Full Self Driving (FSD) ~ Charge More for Cars
Batteries
Gene Munster breaks down Tesla earnings
FINAL TIPS
Follow Up with Companies with Better Responses
Product Strategy is Business Strategy (Art and Science of Making Money)
Strategy is a Skills Every Product Manager Can and MUST Learn
Make Learning Strategy Part of Your Daily Life
Invest!!!
