The PM may fulfill the role of the _____?
Product owner: defining stories, prioritizing team backlogs, accepting stories, etc.
T or F? PM supports ... [Show More] all product aspects
True - Acts as marketing, contact for ales, reviews legal agreements, responses to service requests, manages valuesteam economics
PMs rely on ___ for development facing concerns
Product Owners
Four dimensions of product management stakeholders
Business goals, getting it off the shelf (shipped), getting it built and leveraging support
____________ ____________ is an iterative solution development process that promotes a holistic approach to delighting all stakeholders
Design thinking
Desirable, sustainable, feasible and _________ are the four areas of design thinking
viable
Driving product strategy and execution, communicating vision, managing program backlog all have to do with what APM area?
Feasible
What are the 2 populations of Geoffrey Moore's Crossing the Chasm?
Early adopters and late adopters
What is Design Thinking's double diamond?
Understand the problem, design the right solution
What are the two steps of Understanding the Problem in Design Thinking?
Discover (diverge), Define (converge)
What the two steps of Designing the right solution in Design thinking?
Develop (diverge), Deliver (Converge)
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 is what research area?
Market Research
Fuses on the how, observes and evaluates what customers and users do, determines how customers use or will use the product, influences capabilities and features is what research area?
User research
What research area generally aligns to long-term product development planning horizions?
Market research
T or F. Continuous exploration is market research
True
What are the 5 populations of diffusion of innovation?
Innovators, early adopters, early majority, later majority and laggards
What kind of data is: Previously collected and published data, and may or may not address specific questions
Secondary data
What kind of data is: custom designed and implemented to answer specific questions as best as possible?
Primary data
Usage analytics/product telemetry, government data and libraries are all examples of what kind of data?
Secondary data
A/B testing, questionnaires/surveys are examples of what kind of Primary data?
Quantitative
SImple surveys, Gemba, innovation games and trade studies are examples of what kind of Primary Data?
Qualitative
What of these are considered user research: Usage analytics, government data, libraries, syndicated/private data?
syndicated/private data
Which of these are considered market research? Choice modeling, conjoint analysis, questionnaires/surveys or A/B testing?
None - they are all primary market research
Builds customer empathy with 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' are all strengths of what kind of research?
Qualitative research
Is less objective than other market research methods, does not scale to large numbers of people is not statistically significant are all weaknesses of what kind of research?
Qualitative research
Using segmentation or sampling helps in what area of product management?
research, among other areas
__________ research is often more obtainable and useful with large complex solutions having: relatively small numbers of customers, a small number of transactions with each customer, transactions costing hundreds of thousands to millions of dollars
Qualitative
A ______ ________ is a series of questions or data characteristics that are used to determine if a given person meets the desired respondent profile
Respondent screener
If you have ____ customers in your qualitative study, you can expect to represent 70-75 percent of market needs
12
If you have ____ customers in your qualitative study, you can expect to represent 90 percent of market needs
30
Innovation games are _____, serious games designed for _____ market and customer research
collaborative, qualitative
Innovation games leverage cognitive psychology and ____ ____ to create highly actionable results
Organizational behavior
Name one 'What is minimal valuable product' game
20-20 vision, buy a feature, prune the product tree
Name one Innovation Game that helps identify what solution customers need?
Product box, give 'em a hot tub, remember the future
Speedboat and spiderweb are innovation games that identify what in the design thinking flow?
What is their problem?
___ ____ is the process of dividing a potential market into distinct subsets with common needs or characteristics in order to focus effort on the most attractive segment
Market segmentation
Define from a market segmentation perspective, what Identifiable is
We can identify its members
Define from a market segmentation perspective, what Measurable is
We can determine its size
Define from a market segmentation perspective, what Significant is
It is large enough to be economically feasible
Define from a market segmentation perspective, what Homogenous is
Members within a segment are similar
Define from a market segmentation perspective, what Heterogenous
Memebers between sgements are distinct
Define from a market segmentation perspective, what Reachable is
Contacted through promotion and distribution efforts
Define from a market segmentation perspective, what Compatible is
Aligned with our mission, strengths and ability
A __ __ __ __ is not a product, service or a specific solution; its the higher purpose for which customers buy products, services and solutions
Job to be done
This market segmentation tool helps to create segments of customers facing similar problems, improve the design of operational value streams and customer experiences and creates opportunities for innovation
Job to be done
What key factors play into the value of a market segment?
current and future size of segment, amount customers are willing to pay for your product or service, compeitors, substitutes and compliments
What questions about market segment value inform strategy?
Is the segment valuable enough? Does it align with our enterprise/portfolio strategy? What would it take for us to win? Could we do it with our current team, offereings go-to-market structures, etc?
___ are finctional characters based upon research - they represent the different people who might use your product or solution in a similar way
personas [Show Less]
