What is the #1 reason for new product failure? - Answer Weak value proposition
and/or differentiation
What are other reasons for new product failure? -
... [Show More] Answer Insufficient up-front
homework, lack of customer input, scope creep, functional silos, lack of focus, lack of
competency
What are the four "Ps" of Marketing? - Answer Product, Price, Place, Promotion
What is Promotion? - Answer How to market the product
What is Place? - Answer Channel we sell product to customers on
What is Price? - Answer Pricing strategy i.e. chargebacks
What does a product lifecycle management include? - Answer 1) Determining likely
models for each product (understanding potential revenue and cash flow patterns) 2)
Identifying when product needs support, redesign, renewal, withdrawal
What are the benefits of product life cycle management? - Answer 1) Provides input
to strategic marketing planning and portfolio management 2) Provides insight into
tactical requirements
Best to what and on what drives product success? - Answer Best to market, on time
What drives on-time launch? - Answer Cross-functional teams
What drives profitability? - Answer Unique, superior product quality
What are the 7 keys to successful product management? - Answer 1) Customer
focus 2) Front-end loaded 3) Positioning 4) Product strategy and roadmap 5) CFT 6)
Investment mind-set 7) Metrics, accountability, and continuous improvement
What is a product manager typically more focused on? - Answer Marketing-focused
and externally-facing
What is a product owner typically more focused on? - Answer Engineering-focused
and internally-facing
How do a Project Manager and Product Manager role differ? - Answer A project
manager should manage work. A product manager should manage assets.What is the best measure of progress for software products? - Answer Working
software
What is one important thing sprint retros can be used for? - Answer Coming back to
story point estimates and looking at how to improve forecasting for future sprints
What are the responsibilities of a Product Manager? - Answer 1) To be
market/customer-facing 2) To be collocated and typically reports to
marketing/business 3) Focuses on market segments, portfolio, positioning and ROI
4) Collaborates with POs 4) Owns the vision 5) Drives the release
What are the responsibilities of the Product Owner? - Answer 1) To be
product/technology-facing 2) To be collocated & typically reports to
development/technology 4) Focuses on product and implementation technology 5)
Collaborates with PdMs 4) Owns the implementation 5) Drives the iteration
What are the basic product lifecycle stages? - Answer 1) Introduction 2) Growth 3)
Maturity 4) Decline [Show Less]