Digital Product Management Specialization (University of Virginia)

You are managing product development for a financial services company. You have narrowed down your ideas and are currently at the "Fledgling Business" (H2) stage of your innovation pipeline. Which of the following expectations or timeframe should you set for your project at this stage? 1 / 1 point 1 to 3 years is a typical timeframe at this stage. You can innovate on BOTH new technology AND a new business model. You can budget 90 to 120 days for your project to complete this stage. You can plan 6 to 12 months to complete this stage.

1 to 3 years is a typical timeframe at this stage. Correct Pilots at the "Idea Generation" and "Concept Testing" stages (H3) typically take 90 to 120 days; businesses at the "Fledgling Business" stage (H2) have a typical time horizon of 1 to 3 years; existing business at the "Mature Business" stage (H1) have projects within that with a time horizon of 6 to 12 months.

Accrual Accounting

Accounting that records the impact of a business event as it occurs, regardless of whether the transaction affected cash.

a user story

Is an informal, natural language description of features of a software system. They are written from the perspective of an end user or user of a system, and may be recorded on index cards, Post-it notes, or digitally in project management software.

Kanban

Kanban is a popular Lean workflow management method for defining, managing, and improving services that deliver knowledge work.

Before creating a prototype, a Product Manager should look for user patterns. How to spot patterns?

Look at current patterns our potential users currently follow Look across multiple products Look for a similar product and see how it is used

After answering "What did I accomplish yesterday?" and "What will I accomplish today?" what is the third question teams answer in a daily-standup session? 1 / 1 point "Who is impeding my progress?" "What do I want to accomplish tomorrow?" "What is impeding my progress?" "How is the schedule going?"

"What is impeding my progress?" Correct That's it. Answering this question will help you and your team identify what needs solving quickly so the product can advance in its development.

What is the difference between descriptive and prescriptive analytics? 1 / 1 point Descriptive tells us what will happen, while prescriptive gives us the facts Descriptive tells us facts, while prescriptive tells us why they are happening Descriptive tells us what will happen and prescriptive tells us what we should do about it Descriptive tells us facts, while prescriptive tells us what to do about it

Descriptive tells us facts, while prescriptive tells us what to do about it Correct Descriptive analytics tells us information like, "60% of users clicked", while prescriptive analytics tells us, "Due to the surge in user activity, you should increase your available customer services representatives by 12".

As PM, what could you do to avoid creating a false sense of visibility around your project? 1 / 1 point Lock in a long term product roadmap Have detailed estimations of how long each stakeholder will take to have their parts ready for you Have a rough sense of what your user stories look like 3-4 iterations out. Have a clear vision of your target user outcomes, but keep iterating on what that means as you progress.

Have a clear vision of your target user outcomes, but keep iterating on what that means as you progress. Correct Yes! Keep focused on discovering if your product brings value through testing and iteration. You will fail and succeed in an accelerated way by keeping this mindset.

Business Model Types

I

You are managing new product development for an agriculture business and are currently at the "Fledgling Business" (H2) stage of your innovation pipeline. Which of the following accurately describe a Fledgling/H2 business? 1 / 1 point You are allocating your resources in innovating on BOTH new technology AND a new business model. You can budget 90 to 120 days for your project to complete this stage. You can plan for 6 to 12 months to complete this stage. You are innovating on EITHER new technology OR a new business model for the business, BUT NOT BOTH.

You are innovating on EITHER new technology OR a new business model for the business, BUT NOT BOTH. Correct Correct. Companies at the "Fledgling business" (H2 stage) have either new tech or new a new business model, but not both (that's an H3 business). "Fledgling Business"/H2 will have a chance to move on to "Mature Business"/H1.

You are a Product Manager with three steps in your workflow sequence: Select, Purchase, Watch. Your supervisor tells you that she believes you should implement horizontally - across all phases. Which of the following best displays your reaction? 1 / 1 point I was thinking we can first conduct user testing, see which step is most important, and start there. I agree. Horizontal implementation will help ensure we can test something meaningful that the user can interact with. I think so too. Horizontal implementation will ensure our team members are communicating and not operating in silos. I disagree. I think we should implement everything in the "Select" phase first before we move on

I agree. Horizontal implementation will help ensure we can test something meaningful that the user can interact with. Implementing in just one step of the sequence at a time could cause future issues and the user may not ever be able to be presented with a product they can meaningfully interact with and you can meaningfully learn from.

You are PM for XYZ.com, a social learning community platform that allows members to ask and answer questions from other expert members. If we apply the Hook Framework to this company, what would be an "Action" a user might take? 1 / 1 point Facebook Post: Check out my advice on [which rabies vaccine is right for you] on XYZ.com. I am going to log into XYZ.com and post a question. I am becoming a valued member of this online community - and learning new things! Comment on Your Answer on XYZ.Com: 'Wow - that is a great answer to my question.'

I am going to log into XYZ.com and post a question. This is an action the user must take in order to get the reward.

You are PM for XYZ.com, a social learning community platform that allows members to ask and answer questions from area experts. If you apply the Hook Framework, what would be a trigger for your product?

I need an answer to this difficult question

You are a product manager who is using story mapping to help prioritize different user stories. A typical user interaction with your product is search, select, purchase, and watch. How should you implement these?

Implement user stories in horizontal slices across the entire interaction A good Product Manager will organize and implement things horizontally. This ensures the user will be presented with a full experience and something that they can interact with and you can learn from!

What is the primary benefit of using design thinking and conducting design research? 1 / 1 point Improved customer discovery To create a fluid interchange between people working at different abstraction levels Avoiding waste Improve the flow of your development output

Improved customer discovery That's right. Design research (associated with 'design thinking') tightens up your clinical practice of subject interviews that helps us to explore new ideas through

You're discussing human resource input and staffing for your new product with your boss and a few colleagues. What's your recommendation for staffing with minimum waste through the Four-Step process? 1 / 1 point In Customer Validation, a full functional organization should be involved. In Customer Discovery, a customer development team, rather than a full functional organization, is sufficient. In Customer Creation, a customer development team, rather than the full functional organization, is always best. In Customer Validation, it's a good idea to utilize Partners and Channels in the existing business.

In Customer Discovery, a customer development team, rather than a full functional organization, is sufficient. Correct Correct. In the first phase of Customer Discovery a customer development team, ideally consisting of designers, hackers, and hustlers, is sufficient.

Question 3 You're discussing human resource input and staffing for your new product with your boss and a few colleagues. What's your recommendation for staffing with minimum waste through Steve Blank's Four Steps framework? 1 / 1 point During Customer Creation, a customer development team, rather than the full functional organization, is best. In the Customer Creation phase, a full functional organization, rather than a customer development team, is mostly likely to be the best fit. During Customer Validation, it's a good idea to utilize Partners and Channels in the existing business. During Customer Validation, a full functional organization should be involved.

In the Customer Creation phase, a full functional organization, rather than a customer development team, is mostly likely to be the best fit. Correct After product/market fit is validated and you're ready to scale it, a more functional organization with distinct roles is likely to be a very good fit with the needs of the product and the business.

As a Product Manager, what information should you seek out from your data science team?

Inferences and potential ideas for how to improve and/or better monetize the customer experience

What Business Model Type does Enable Quiz fall into? Infrastructure Service Scope Product Correct

Infrastructure That's right. Enable Quiz's main concern is "How many people can we get to use our tool?". Their main profit driver is how much of their service they sell.

What would you expect is a business model type for a product with a highly standardized sales structure? 1 / 1 point Infrastructure-driven Sales-driven Scope-driven Product-driven

Infrastructure-driven Correct Yes! Sales processes for infrastructure driven companies are normally highly standardized, one of the requirements for being volume/scale oriented.

A product backlog

Is a prioritized list of work for the development team that is derived from the roadmap and its requirements. The most important items are shown at the top of the ______________ so the team knows what to deliver first.

What are some of the characteristics of a good core analytics objective? 1 / 1 point It's actionable and can be broken into a set of steps Is built around the data analytics already in place in the company It has a very large sample size Is built only to validate already existing data in the company

It's actionable and can be broken into a set of steps Correct That's right. A good analytics objective will let you discover more data points that will be translatable into discrete actions to achieve your end goal, which generally should be some observable outcome related to customer behavior.

What common issue does this snippet from a persona interview demonstrate? Interviewer: So, we're trying to come up with a way to minimize all these forms you have to fill out over and over at the doctor's office, you know, some kind of app that will have everything you need. Interviewee: That sounds interesting. Talking too much Leads the subject with a solution Asking a leading question Settling for agreement from the interviewee rather than pushing for a deeper understanding of the interviewee's perspective

Leads the subject with a solution When you begin your interview with a solution, you miss opportunities to learn more about your subject and what they really need. They're going to tell you what you want to hear and work hard to exit the interview ASAP because they'll feel you're selling to them.

What is the primary purpose of managerial accounting?

Managerial accounting is used by internal company stakeholders to make daily decisions. Some examples are forecasting and planning.

What business model is most likely to be enhanced by a relatively flexible sales structure? 1 / 1 point Infrastructure-driven Sales-driven Product-driven Scope-driven

Scope-driven Correct Yes! Part of the value of scope-driven products is that they can tailor their solutions to fit their target users needs, including the sales.

You are managing product development for a company and have decided to use Steve Blank's Four Steps to organize your exploration of a new idea. What's the last thing you will focus on during the product development timeline? 1 / 1 point Set up a company or division with interlocking interdisciplinary teams to start developing a potential product. Focus on keeping an open mind, doing generative discovery with real subjects in their natural environment, watching what is on their A-list, and identifying what they care about most. Focus on improving the product and customer experience and making it more efficient for feasibility and viability of the product. Focus on testing a set of structured assumptions about customers and products.

Set up a company or division with interlocking interdisciplinary teams to start developing a potential product Correct Company Building is the last step of the four, when you build capabilities around the new business and it becomes feasible to think about scaling the organizations.

You are trying to develop a new product and have just completed Customer Creation. Where should you focus next? 1 / 1 point Customer Discovery: focus on keeping an open mind, doing generative discovery with real subjects in their natural environment, watching what is on their A-list, and identifying what they care about most. Set up an interdisciplinary team and scale the organization. Develop an MVP (Minimum Viable Product) to test and validate a set of structured assumptions about customers and our product, and conclude whether there is a product/market fit. This is an inflection point: either pivot or persevere.

Set up an interdisciplinary team and scale the organization. Correct After Customer Creation, when the product and customer experience are improved and it becomes more efficient for feasibility and viability of the product, it is time to start scaling the business.

Why is it important to co-create user stories with your teams as a PM? Select three.

Share visibility by osmosis/organically Correct Yes. Working a project room, or "information radiator," is a good way to get them in sync by letting them co-create work you want them to do down the line. It helps us decide what and how to build better Correct Yes. If you create the stories by yourself the developers might be only understanding 10% of what you are saying (remember the tapper experiment!). Co-creating eases collaboration and accuracy of objectives down the line. The team will develop a shared understanding of the stories users a facing. Correct Yes. Even though the outcome might be similar, there may have been a 10X increase on understanding on your developer's part. Information asymmetry is bigger than you think!

What is prototyping not good for

Testing customer motivation. Because customers lie.

You have just received some quantitative data on click-through rates for a Google AdWord campaign. How is this data useful to you? The data will show you which aspect(s) of your product your potential customers find most usable. The data will show you to what degree the potential customers like the product you've developed. The data will show you if and how you have caught the attention of potential customers. The data will show you if you are or are not able to keep your customer's attention.

The data will show you if and how you have caught the attention of potential customers Quantitative data is very useful in telling you what happened- getting customers' attention, in this case.

Which descriptor below contains elements of an effective persona? 60% said they would use an app to remind them when they need to take medications Looking forward to enjoying their golden years Senior citizens ages 70-85 Sally the Senior Citizen

Sally the Senior Citizen Naming a persona is a first-step toward developing a specific and fully developed sense of who this persona is and what makes them tick.

A company purchases an annual subscription for which they are billed $600 in January and $600 in July. The company records a $100 expense each month for the whole year. What type of accounting is this an example of?

Accrual accounting In the accrual method of accounting, companies match the expense to the period in which it was incurred (in this example, $100 for January, $100 for February, etc.) rather than when they actually pay the bill.

jtbd

jobs to be done

A brand new PM comes to you and asks if you can explain why they should use a design sprint. Which of the following answers bests describes why a Product Manager should use a design sprint? A design sprint is a quick way for a product manager to run an MVP experiment. A design sprint will help you to investigate your customer at a deeper level. A design sprint is a way to create time, space and focus for exploring new ideas (before you develop). A design sprint will help you create a successful product if you are short on time.

A design sprint is a way to create time, space and focus for exploring new ideas (before you develop). . A design sprint is a way for a Product Manager to create enough time and space to do things right. A design sprint uses time boxing, which helps you create enough time to get through a task, but not so much time that you or your team become distracted.

Your company is considering launching an eco-friendly rodent deterrent spray and so you work with the product development team to develop problem scenarios, alternatives, and Value Propositions. Which of the following proposals by your team would you agree with? 1 / 1 point A problem scenario (job they can do for the customer) might be: Keep out rodents. The problem scenario (jobs they can do for the customers) can be: It's too hard to lay down traps. The problem scenario (job they can do for the customers) might be: It doesn't use electric fences to keep out rodents or snap traps to kill rodents, which are alternatives customers are currently using. The problem scenario (jobs they can do for the customers) can be: Make sure to use spray to keep out rodents.

A problem scenario (job they can do for the customer) might be: Keep out rodents. Correct Correct. The problem scenario should be neutral, unbiased, and objective. Make sure the problem scenarios apply equally well to the alternatives and Value Propositions.

As product manager for an industrial device company, you want to learn as much as possible about how users might interact with your new product idea. Which of the following MVPs would best help you answer these questions: Do your customers use the MVP--and if they do, what happens and how often do they use it? 1 / 1 point An online demo of the product's features The sales and marketing team offers customers free samples after a new product is launched in the market. To offer a customer discounts and see if she is willing to deposit and wait for the new product to be launched in the market. A version of the product experience that is hand-created, so that the product development team can observe the customer experience.

A version of the product experience that is hand-created, so that the product development team can observe the customer experience. Correct Correct. A concierge MVP allows you to see how users interact with your product since you are there creating the experience for them.

You are managing product development for a medical device company and exploring a new product for people who have Raynaud's syndrome (a condition where people's hands and feet go numb in response to cold or stress). You are thinking about a lightweight glove that can sense the temperature of and then warm the hands of people. You want to evaluate whether you can reach buyers for this product, get their attention, and that they have at least a basic level of interest in such a product. Which of the following MVPs would best help you get that kind of answer? 1 / 1 point The sales and marketing team offers customers deep discounts on the new product, a lightweight glove that senses the temperature of and then warms the hands of people, after it is launched in the market. See if you can sell it to retailers. An online video demonstrating the product design - a lightweight glove that senses the temperature of and then warms the hands of people - with a field for people to opt-in to receive more information. Provide users with fingertip stickers that sense the temperature of the fingers, and when the temperature drops, give them pre-warmed gloves.

An online video demonstrating the product design - a lightweight glove that senses the temperature of and then warms the hands of people - with a field for people to opt-in to receive more information. Correct This combination of Wizard of Oz and sales MVP helps you gauge user interest (though it does not give much insight into how they might use the glove).

As a PM, which best practice should you engage in to improve the effectiveness of your meetings and product planning? 1 / 1 point Ask developers to spend time writing user stories with you. Ask for clear time estimates from my stakeholders across project deliverables. Focus on a suite of additional features for our current version that could help us achieve more users in the future. Close oversight

Ask developers to spend time writing user stories with you. Correct Yes, this could improve your chances of success! By having developers co-create the stories you get their buy-in and, most important, increase the team's shared understanding of user needs.

Question At a high level, how might you make sure your analytics and actionability align and your plans are working? Have an end-to-end plan of how the big project will go Have a perfect data set that gives me whole visibility Begin with the end in mind and iterate Make sure managers are looking at my conclusive data

Begin with the end in mind and iterate Correct Yes. By beginning with the end you are framing your analytics strategy in the correct way. This will allow you to reach your goal in actionable ways by constantly iterating on them.

As a Product Manager, what is your most critical job in agile? 1 / 1 point Bring strong inputs to describe what would be valuable to users. Create the development backlog. Manage deadlines. Organize demonstrations.

Bring strong inputs to describe what would be valuable to users. You've got it. Sure, there are a lot of things you might do, but this is the most critical.

Question 8 In your interview for the PM role, you are asked about product management approaches that could endanger progress. Which of the following would be an approach that would create a false sense of visibility? 1 / 1 point Having clearly developed epic and child stories for users Not being locked-into a specific product development roadmap Having a rough sense of where the product is going and a clear view of customer outcomes Working to have defined, fixed timeline of how the whole project should progress

Correct This is one of the worst things you can do as PM. In your quest for precision, you will possibly create a lot of wasted time and effort, as you are now accounting for product discoveries, iteration and many other activities that make a superior product. Remember, to be flexible does not mean to be slow - quite the contrary! By following agile, you will fail and succeed more clearly and in the long term.

What should a PM do to get the most from their design team?

Create an environment where your team is encouraged to ask hard questions about desirability

A company is planning to introduce a brand new product. What is the order of the four steps, adapted from "Four Steps to the Epiphany", to explore a new idea? Customer Discovery -> Customer Validation -> Customer Creation -> Company Building Customer Discovery -> Customer Creation -> Customer Validation -> Company Building Customer Validation -> Customer Discovery -> Customer Creation -> Company Building Company Building -> Customer Discovery -> Customer Validation -> Customer Creation

Customer Discovery -> Customer Validation -> Customer Creation -> Company Building This is the order of steps if you are a Product Manager working on either a new product or a substantive new feature extension to your product.

As PM for a software company, you are using the Business Model Canvas to outline a project proposal to the management of your company. You have listed Customer Segments and Value Propositions. Now you want to proceed with Customer Relationships and Channels to add more color to your proposal. Which of the following content might be a plausible description of a 'Customer Relationship'? 1 / 1 point Dedicated personal service for corporate accounts Google Adwords for promotion Landing page to drive sign-ups Television advertisements to make your product known to the customers

Dedicated personal service for corporate accounts Correct Correct. Customer Relationships describe the way that businesses interact with customers at various points of the customer journey, such as phone support or personal service.

As PM for a software company, you have developed a new accounting software that has a strong product/market fit with its core functionality. Now you want to test a few possible ideas for product extensions. What is the best way to validate your core assumptions before actually investing in programming and developing? 1 / 1 point Develop an interactive prototype you can test with users. Providing users a beta testing version of the software package that the product development team can observe the customer using. Develop a content strategy, testing focal blog posts and/or webinars on the topics you're considering. Measure relative attendance as well as qualitative input like questions and comments. Attending finance and accounting conferences to display demos of the possible new functionality.

Develop a content strategy, testing focal blog posts and/or webinars on the topics you're considering. Measure relative attendance as well as qualitative input like questions and comments. Correct This MVP is probably best described as 'concierge', but the real point is that content can be a great way to test and explore interest in new areas.

You are trying to test product/market fit for a new product idea and have just completed customer discovery. Where should you focus next? 1 / 1 point This is an inflection point: either pivot or persevere. Start building the product based on what you learned in Customer Discovery. Create customers by scaling the product/market fit through product and experience updates while tuning feasibility and viability of the product. Develop an MVP (Minimum Viable Product) to test and validate a set of structured assumptions about how you'll achieve strong product/market fit.

Develop an MVP (Minimum Viable Product) to test and validate a set of structured assumptions about how you'll achieve strong product/market fit. Correct An MVP (Minimum Viable Product) is developed to test and validate a set of assumptions (e.g., if we do this for the customers, they will respond in this way, etc.) after the first phase of "Customer Discovery".

What are some of the main profit drivers of companies with a product-driven business model? 1 / 1 point Share of demand and retention Product category and advertising Volume/scale of users and sales Differentiation and premium pricing

Differentiation and premium pricing Correct Yes! Product-driven companies create value through providing a unique product that captures a price premium or connects with new demand. As a PM, it's important to know how which decisions could affect the performance and profits the most.

As PM for a software company, you want to find out if users are really interested in your product idea before actually investing in building anything. Which of the following MVPs would best achieve your goal? 1 / 1 point Directing potential customers to a webpage that outlines key steps of this new service and calls on them to sign-up for an early bird discount. Hand-create the user experience and collect relevant observations about what was valuable and why before thinking about standardizing a new service into the software. Just build a very simple version of the product and see if anyone buys it Opening a pop-up shop in the neighborhood to sell demos and allow sign-ups for alerts, once the new product is available.

Directing potential customers to a webpage that outlines key steps of this new service and calls on them to sign-up for an early bird discount. Correct Correct. This Sales MVP allows you to test motivation before you invest in building something that the market may not want.

epic vs child stories

Epic stories describe a user action and the child stories detail that action.

As a product manager for a medical device company, you have decided to use Steve Blank's Four Steps as a way to organize your exploration of a new idea. What would you do to start off? 1 / 1 point Focus on keeping an open mind, doing generative discovery with real subjects in their natural environment, watching what is on their A-list and identifying what they care about most. Set up a company or division with interlocking interdisciplinary teams to start developing a potential product. Focus on testing a set of structured assumptions about customers and products. Focus on improving the product and customer experience, scaling your product/market fit and tuning the feasibility and viability of the product.

Focus on keeping an open mind, doing generative discovery with real subjects in their natural environment, watching what is on their A-list and identifying what they care about most. Customer Discovery is the first step you would take to apply the framework, whether you're working on a new product or a substantive new feature extension to your product.

The software product you recently released already has some quantitative data about click-through rates that show you have gained attention from customers. What should be your next step with customers? 1 / 1 point Take a look at the action your customer has to take to use your product and try to make it easier! Focus on keeping the interest of your customers and moving them to action. Place your efforts on customer retention. Start to research retention rates across cohorts.

Focus on keeping the interest of your customers and moving them to action. That's it! Customers today are over-stimulated, meaning they have many choices and many products pull their attention in different directions! It is very important to keep their attention on your product and cultivate enough interest to drive to action.

Principles of Scientific Management (4 main principles)

Frederick Taylor, 1911 Using scientific methods to determine and standardize the one best way of doing a job. A clear division of tasks and responsibilities. High pay for high-performing employees. A hierarchy of authority and strict surveillance of employees.

What should be your motivation of holding a "fake feature" test? Conclude if the feature is desirable or not Get a sense if the users react and take note of it Understand user behavior through long periods of time Get statistical validation that it's desirable

Get a sense if the users react and take note of it Correct Great! The purpose of this is to understand quickly if there is something of interest here for the user - it doesn't need to be a huge sample size or conclusive - but enough to move along and keep interating.

Why would you want to use a story point system when planning? Create more software for more people Roughly prioritize stories balancing their level of desirability with their rough level of effort Get really specific on delivery estimates Precisely schedule product roadmap

Roughly prioritize stories balancing their level of desirability with their rough level of effort Correct You want to make sure you and your team are on the same page regarding the relative importance of each specific user stories so that you can prioritize what parts of the product should be given focus first.

As PM for an organic fertilizer product, you have identified and validated product/market fit and have reached the point of bringing business to scaling and thinking about profitability and optimization, i.e. you are ready to move from H3 to H2. You decide to use the Business Model Canvas to outline your business plan and hand it in for management review. What might be a good first step to outline your ideas for the business? 1 / 1 point Try to keep a lean team - a customer development team, rather than the full functional organization, is sufficient for scaling product/market fit and tuning feasibility and viability for business. Mapping Customer Segments to Value Propositions to explain what you're validated on product/market fit. Customer Discovery: focus on keeping an open mind, doing generative discovery with grain farmers and gardeners, watching what is on their A-list, and identifying what they care about most. Develop an MVP (potting mix with your product) to test and validate a set of structured assumptions about customers and our product.

Mapping Customer Segments to Value Propositions to explain what you're validated on product/market fit. Correct After you have already tested concepts, Validated Propositions and are ready to move from H3 to H2, you should start thinking about feasibility and viability of the product. Analyzing Customer Segments and Value Propositions is a good first step for using the Business Model Canvas.

What are some of the main profit drivers of companies with a scope-driven business model? 1 / 1 point Volume of users and sales Market share and retention Differentiation and demand Product categories and advertising

Market share and retention Correct Yes! Scope-driven create value by providing superior services or products that capture a higher market share from a user's total spending on their category. As a PM, it's important to know how which decisions could affect the performance and profits the most.

What does lean startup test for?

Motivation Lean Startup is about testing motivation. It asks, "Does the customer want what we have?" and "Are we better than the alternative?"

You are Product Manager and you are not sure that your product proposition is better than the alternatives your customer considers. You have one week to do a design sprint. Which of the following design sprint types should you execute? Personas and Problem Scenarios Design Sprint Architecture Sprint Usability Design Sprint Motivation Design Sprint

Motivation Design Sprint Good job. A Motivation Design Sprint is what you want to use if you need to run an MVP experiment and determine if your proposition is better than the alternative choices your customers have.

You are managing product development for a pharmaceutical company. You just started looking for some ideas of or inspiration for Zika treatment in Florida and potentially in South America. If you are currently not in those areas and you have limited resources to either send out your own team there or fly potential customers in, what approach would you use to understand the daily life of local residents and look for potential treatment? 1 / 1 point Training your team members and interviewing the residents in the field Reverse hackathon Studying the disruption catalysts in the healthcare sector Partnership with local startups to run pilot projects and get answers to your questions

Partnership with local startups to run pilot projects and get answers to your questions Correct If you are not around these areas, you can find some local companies to do the research for you.

What is the best definition of "non-titular" as applied to product managers?

People with other titles who act as Product Manager That's right. In a lot of start-ups, the Product Manager role is filled by the CEO or others in the organization.

As PM for a cosmetics company, you are using the Business Model Canvas to outline your business proposal to the management of your company. You have listed Customer Segments and Value Propositions. Now you want to proceed with Customer Relationships and Channels to add more depth to your explanation. Which of the following content would be a valid channel? 1 / 1 point Ease irritation and allergic reaction on the skin Teens in small markets Dedicated personal service for large accounts (e.g. Sephora) Promotion via Google Adwords, sales on corporate website, and service via a call center

Promotion via Google Adwords, sales on corporate website, and service via a call center Correct Channels indicate how the company is going to deliver the product/service, such as through promotion, sales channels, and service tools.

You have a new team member who isn't clear about why incremental innovation tools like the fake feature test or the concierge test are useful. How would you explain it? 1 / 1 point Doing statistically significant tests of new features Fine tuning usability Providing us with enough information to learn what our users might be interested in so we don't build something no one wants Getting conclusive evidence of the desirability of new features

Providing us with enough information to learn what our users might be interested in so we don't build something no one wants Correct Yes. Implementing these tools helps us to be on a "learning mission" where we're quickly discovering what our users want. Doing more exhaustive tests, wouldn't be helpful at this point since they would lead us more to a scaling mission.

aidaor funner model

Qualitative and quantitative framework for understanding customer progress

You are managing new product development for an agriculture business. If you want to actively seek as much first-hand feedback as possible from customers, what approach would you use? 1 / 1 point Reverse hackathon Studying disruption catalysts in the agriculture sector Feedback collected by other product teams in your company Partnership with local startups to run pilot projects Correct Correct. Reverse hackathons enable a face-to-face discussion and problem/job exploration among customers, providing more first-hand information about customers' thoughts.

Reverse hackathon Correct. Reverse hackathons enable a face-to-face discussion and problem/job exploration among customers, providing more first-hand information about customers' thoughts.

Question 6 Your company is considering launching an eco-friendly rodent deterrent spray and so you work with the product development team to develop problem scenarios, alternatives, and Value Propositions. Which of the following statements by your team would you agree with? 1 / 1 point The problem scenario (jobs they can do for the customers) might be: It doesn't keep out rodents with electronic fences, which is one of the alternatives customers are currently using. The problem scenario (jobs they can do for the customers) might be: Cats not eating your rats? Our spray will keep them out- no caveats. The problem scenario (jobs they can do for the customers) might be: Make sure to use spray to keep out rodents. The problem scenario (jobs they can do for the customers) should be neutral, unbiased and objective, such as keep out rodents.

The problem scenario (jobs they can do for the customers) should be neutral, unbiased and objective, such as keep out rodents. Correct The problem scenario (jobs they can do for the customers) might be: Keep out rodents.

Jobs to be done

The_________ framework is an approach to developing products based on understanding both the customer's specific goal, or "job," and the thought processes that would lead that customer to "hire" a product to complete the job.

Issue with asking customers

They can misrepresent their desires, also their output is not a replacement for an actual test

How do actionable personas and problem scenarios help development teams avoid waste? They help humanize things They focus the team's energy on evolving problems and complex solutions They keep the team focused on solving problems that truly matter to the user They help the team focus on solutions right from the start

They keep the team focused on solving problems that truly matter to the user By developing a deep understanding and empathy for the user, the team can develop creative solutions to user problems that truly matter.

As a Product Manager, you use the AIDAOR framework to manage your customer funnel. Which of the following is the best description of what this framework does for you? This framework gives you qualitative data about your potential customers. This framework gives you a place to focus and operationalize both quantitative and qualitative observations. This framework gives you quantitative data about your potential customers. This framework gives you data about how your potential customers feel about your product.

This framework gives you a place to focus and operationalize both quantitative and qualitative observations. The AIDAOR framework will supply you, a PM, with the quantitative and qualitative lattice you need to think through how you're managing the customer journey. While it is very important to have a deep qualitative understanding of your customer, you need quantitative numbers to back that up and know what's really happening. Numbers can show you things like click through rates, or where you might be losing customers.

What does an over-investment in training help you accomplish?

Training is very helpful to both you and your users. It allows you to guide their experience and learning so that they find your product easy to interact with. At the same time, you can learn more about the customer experience and use that knowledge to improve your product and perhaps identify new product needs.

You have created a somewhat reliable product/market fit and are ready to scale the business and focus on profitability, to move from H3 to H2. What might you do to start off? 1 / 1 point Keep a lean team rather than the full functional organization Develop an MVP (Minimum Viable Product) to test and validate a set of structured assumptions about customers and our product Complete customer discovery: focus on keeping an open mind, doing generative discovery with real subjects in their natural environment, watching what is on their A-list, and identifying what they care about most Tune feasibility and viability, defining in more detail and testing facets of the business model

Tune feasibility and viability, defining in more detail and testing facets of the business model Correct Correct. After you have already tested concepts, validated propositions and are ready to move from H3 to H2, you should start thinking more about feasibility and viability of the product. Using the Business Model Canvas is a great way to analyze Customer Segments and Value Propositions.

Question 4 One of the design team leads brings up her concerns regarding a possible lack of customer motivation. They are looking for insight from you, the PM. What do you suggest? 1 / 1 point Immediately begin user testing to determine the cause Go to your engineering team so they can make changes to the current product Use a prototype to see what the customer thinks Using Minimum Viable Products (MVP's) to test for motivation

Using Minimum Viable Products (MVP's) to test for motivation That's right. Using MVP's will enable you to test for motivation. Three common archetypes are Concierge, Wizard of Oz, and Sales.

You are a Product Manager and you want to explain to your team what you think is the most important initial focus of testing a new product idea. Which of the following would you suggest as the best starting point? We must initially test to see if the product delivers. We must initially test to see if the product works. We must initially test to see whether our target user might finds the new product/feature valuable. We must initially test to see if the product is usable.

We must initially test to see whether our target user might finds the new product/feature valuable. You want to make sure your team understands that, first and foremost, you must test to determine if the product is valuable. Would the customer actually prefer it over their next best alternative? Testing the value of the product will help you and your team determine what motivates the user and avoid waste.

Question 7 Your customer is a large company and they ask you to help develop new feature on the enterprise software you've sold them. They tell you they want all of the font to always be bold. As product manager, which of the following should be your reaction when they tell you this? 1 / 1 point You should not implement that feature because it does not seem practical to you. Your company is more of an expert in these matters and the customer should trust your judgement. You need to first ask them why they want the font to always be bold to try and understand the why and what outcome would constitute success. You should quickly create a prototype and start testing it! That way you can see how users react to this change. You should start by giving them what they want since they are the customer. You can address issues later.

You need to first ask them why they want the font to always be bold to try and understand the why and what outcome would constitute success. You've got it. As Product Manager, you first want to anchor to problems - not solutions. You need to understand more about your customer and the current problem they are facing and why they want the font to always be bold.

Question 9 You are a Product Manager and you receive data that shows your customers are continuing to use the product for 30 days. You are a bit unsure of what to do next. Which of the following best describes what you should do next? 1 / 1 point You should begin to look at outcomes and customer retention. It would be best to move onto a better understanding how to get the attention of new customers. There is no next step since you have successfully used the AIDAOR framework to bring in customers and monetize them. Next you should focus on minimizing the amount of work the customer has to do to buy the product and get that reward.

You should begin to look at outcomes and customer retention. Great. The customers are continuing to use the product for 30 days, which is good. But, are they getting the rewards they've had in mind? Are those valuable?

How is being a Growth Product Manager different from being either traditional Marketing role in a company? You are a champion for the users in the company You stand at the intersection of desirability, feasibility and viability You work tirelessly to determine product market fit

You stand at the intersection of desirability, feasibility and viability Correct Yes! The key for this type of roles is to be at this interdisciplinary sector and take charge in both shaping, creating and executing the vision for your product.

Just before launch, you discover that the interface you're building might be confusing to the end customer. Which of the following would be your initial reaction if you were practicing agile? 1 / 1 point You do not rethink the product feature. It is too late. You talk to your counterpart and share your concerns. You stop working on it and move to something less controversial. While you'd like to get additional perspective, you don't want to get in trouble so, you just make the change.

You talk to your counterpart and share your concerns. Yes! This is a great example of a highly functioning agile team. Talking to counterparts about inconvenient changes in perspective/learning is a part of responding to change.

Business Model Canvas

a diagram of how a company creates value for itself and its customers

Personas

are fictional characters that help product managers make these decisions and guide how the team will build features that customers love. ... User _______ represent the people who directly use your product, bringing them to life in a memorable way that everyone can understand.

A scope-driven business

creates an 'economy of scope', doing a bunch of things for a particular type of customer.

A product-driven business

creates something unique and proprietary which inherently delivers a proposition relevant to one or more segments.

An infrastructure-driven business

has a large fixed asset or system that it's looking to sell to as many different segments as possible.

MVPs

or Minimum Viable Products to test if people care about the product we are building. An MVP is simply a very early version of the product (it might not even have working software) that allows the team to learn very quickly about how users interact with and respond to the product idea.

3 engines of growth

paid, sticky and viral.

fake feature test

test in digital product that can lead to a coming soon announcement, is aimed to simply gauge interest in that think but does not validate customer need

How to communicate BM effectively with stakeholders without boring them?

use business model canvas, print it out and hang it so it's all encompassing yet concise

If you're the Product Manager for a mobile videogame that is Product Driven, what layer is probably the most important for your development team to focus on to ensure desirability? View Layer API All three of them! Core Application

view layer Correct Correct. For the product to be successful it requires top notch, accessible UI and unique audio-visual features.