Product

Management Compendium
by

bITeSys
The Systems and Analytics Club of IIM Shillong
TABLE OF CONTENTS

INTRODUCTION 3
GETTING STARTED 6
PM CONCEPTS 7
TECH CONCEPTS 11
PRODUCT DESIGN 25
CIRCLES Framework 26
Pysch Conversion Framework 28
Hook Model 28
FEATURE PRIORITIZATION 29
RICE Model 29
MoSCoW Model 30
Kano Model 32
METRICS 33
HEART Framework 33
AARRR Pirate Metrics Framework 34
GUESSTIMATES 36
ROOTCAUSE ANALYSIS 44
PRODUCT SENSE 51
Metrics 51
App Teardowns 53
Product Improvement 71
New Product Development 75
Go To Market Strategy (GTM) 77
INTERVIEW QUESTIONS 79
PM GLOSSARY 84

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INTRODUCTION

Product Management: The Art and Science of Creating Value

What is a Product?
In essence, a product is anything a company offers to its customers – whether it's
a tangible good or an intangible service. It's designed to meet a specific need or
desire.
What is Management?
Management involves planning, organizing, and coordinating activities to achieve
a defined goal.

The Fusion: Product Management Defined

Product management is the strategic and tactical discipline of guiding a
product through its entire lifecycle, from ideation to launch and beyond. It's
about ensuring the product not only meets customer needs but also aligns with
business objectives.

The Product Manager: A Multifaceted

Role

Often described as the "CEO of the product," the product manager is responsible
for a wide array of tasks, including:

Market Research: Understanding customer needs and industry trends.

Vision and Strategy: Defining the product's purpose and charting a roadmap for
success.
Product Ideation: Generating innovative ideas and refining them into viable
solutions.
Product Design & Execution: Collaborating with designers and engineers to
bring the product to life.
Marketing & Launch: Working with marketing teams to craft launch strategies
and create awareness.
Post-Launch Analysis: Monitoring key metrics and gathering user feedback to
drive continuous improvement.

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INTRODUCTION

Key Traits of a Successful Product Manager:

Strategic Thinking:
• Ability to see the big picture and align product decisions with overarching
goals.
Decisiveness:
• Confidence in making tough choices, even with limited information.
Customer Empathy:
• Understanding user needs and pain points at a deep level.
Communication Skills:
• Ability to effectively communicate with diverse stakeholders.
Technical Acumen:
• Basic understanding of technology to collaborate with engineers and
designers.

Product Management's Diverse Landscape: The Products You'll Encounter

A product manager's journey is marked by the diverse array of products they
encounter throughout their career. Understanding these different types is crucial for
tailoring your skills and strategies to succeed in each context:

Business-Focused Solutions (B2B): These products are designed to address the

specific needs of other companies, often streamlining operations, enhancing
productivity, or solving complex financial challenges. Examples include enterprise
software like Salesforce or SAP.

Mass Consumer Apps: These products cater to the everyday needs of a vast
audience, focusing on user-friendly interfaces and engaging experiences. Think of
social media platforms like Instagram, ride-hailing services like Uber, or
entertainment apps like Spotify.
Feature Enhancements: These products are not standalone offerings but
enhancements or additions to existing products. Their purpose is to improve the
overall user experience and drive value through incremental improvements. Think
of the "shopping cart" feature on an e-commerce site or a new editing tool within a
photo app.
Minimum Viable Products (MVPs): These are early-stage products designed to
test a concept with the core set of features. The focus is on rapid development and
gathering user feedback to iterate and improve. Many startups begin with an MVP
to validate their ideas.

Tech-Driven Products: These products leverage cutting-edge technologies like

the Internet of Things (IoT), machine learning, or artificial intelligence (AI) to
solve problems or create innovative experiences. Examples include smart home
devices, self-driving cars, or AI-powered chatbots.

Marketplace Platforms: These products create a digital space where buyers and
sellers can connect and transact. The key to success lies in understanding user
psychology, supply and demand dynamics, and building trust between
participants. Amazon, eBay, and Airbnb are prime examples.

Each of these product types demands a unique set of skills and knowledge from
product managers.

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INTRODUCTION

Product Management Career Path

This diagram illustrates a typical career progression for product managers within
an organization.

•Assistant Product Manager (APM): Entry-level role, often focused on

supporting senior PMs with research, data analysis, and project coordination.

•Product Manager: Core role, responsible for managing a product's lifecycle

from ideation to launch and beyond.

•Senior Product Manager: More experienced PMs who handle complex

products, lead cross-functional teams, and may mentor junior PMs.

•Director of Product: Oversees a group of product managers, sets strategic

direction for multiple products, and aligns them with company goals.

•VP of Product: Executive-level role, responsible for the overall product strategy
and vision, resource allocation, and driving product-led growth.

•Chief Product Officer (CPO) and Beyond: Highest-ranking product leader,

setting the company's product vision, managing the entire product portfolio, and
reporting directly to the CEO.

The dotted line indicates that career paths can vary, and some individuals may
progress through different roles or move laterally to gain diverse experience.

Ultimately, the product management career path offers a variety of opportunities

for growth and specialization, depending on individual skills and interests.

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GETTING STARTED

Understanding the Role

• Read Foundational Books:
• "The Lean Product Playbook" by Dan Olsen
• "Cracking the PM Interview" by Gayle Laakmann McDowell and Jackie
Bavaro
• Blogs from Mind the Product, Exponent and Medium articles from prominent
PMs.
Practical Experience
• Case Studies and Simulations: Engage in case studies or product management
simulations with your college mates. Analyze real-world problems, propose
solutions, and discuss your findings to gain practical insights.

Skill Development
• Technical Skills: Basic understanding of working of software, data analysis,
and UX design tools like Figma can be beneficial.
• Analytical Skills: Learn tools like Excel, Google Analytics, and Tableau and
develop data-driven decision making
• Soft Skills: Focus on communication, leadership, and negotiation skills ,
stakeholder management and teamwork.
Stay Updated
• Subscribe to Newsletters and Podcasts:
• Product Management Insider, Mind the Product, and This is Product
Management.

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PM CONCEPTS

Lifecycle of a Product
Introduction:
• Generating Concepts and Ideas: Market research, competitive analysis,
customer feedback, corporate brainstorming sessions, and developing trends
are some of the sources of ideas.
• Idea screening: It involves assessing each idea's viability, desirability, and
feasibility.
• First Concept Testing: To improve the idea, get early input from possible
users.
• Product Development: Necessary Conditions Collecting: Outlining use
cases, user stories, and product requirements.
• Design: Producing prototypes, mockups, and wireframes to help with product
visualization.
• Development: Using agile approaches, this phase includes coding, testing,
and product construction.
• Alpha/Beta Testing: Sending out preliminary copies to a small group of
people in order to find bugs and get input.
• Marketing Plan: Creating campaigns, content, and promotional strategies to
build awareness.
• Sales Strategy: Developing pricing models, sales collateral, and training for
the sales team.
• Distribution: Ensuring the product is available through appropriate channels
(e.g., online, retail).
Growth:
• Customer Acquisition: Implementing strategies to attract new users, such as
paid advertising and SEO.
• Retention: Enhancing customer experience through updates, support, and
loyalty programs.
• Scaling: Expanding infrastructure and capabilities to handle increased
demand.
• Maturity:
• Optimization: Refining features, improving performance, and maximizing
profitability.
• Market Defense: Enhancing differentiation and responding to competitive
threats.
• Diversification: Exploring new markets, segments, or product extensions.
Decline:
• Assessment: Evaluating whether to rejuvenate, pivot, or discontinue the
product.
• End-of-Life Planning: Managing the phase-out process, including customer
communication and support transitions.

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PM CONCEPTS

Product Vision and Strategy

• Purpose: Articulating the product’s long-

term goal and the problem it solves for
users.
• Alignment: Ensuring the vision aligns with
Vision: the company’s mission and overall
strategy.
• Inspiration: Creating a compelling
narrative that motivates and guides the
team.

• Market Definition: Identifying the target

market and customer segments.
• Positioning: Defining the unique value
proposition and competitive
Strategy: differentiation.
• Roadmap: Outlining major milestones,
feature releases, and strategic initiatives.
• Metrics: Establishing success criteria and
key performance indicators (KPIs).

User Personas and Customer Segmentation

• Creation: Developing fictional but detailed

profiles representing different user types.
• Attributes: Including demographics,
User Personas: behaviors, goals, challenges, and
preferences.
• Usage: Guiding product design,
development, and marketing decisions.

• Criteria: Dividing the market based on

characteristics like age, location, behavior,
and needs.
• Targeting: Identifying high-potential
Customer Segmentation: segments to focus marketing and product
efforts.
• Customization: Tailoring features,
messaging, and experiences to meet the
specific needs of each segment.

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PM CONCEPTS

Product Roadmap
• Long-Term Goals: Defining the major
objectives for the product over the next 1-3
years.
• Feature Prioritization: Ranking features
Roadmap Planning: based on customer value, business impact,
and feasibility.
• Timeline: Creating a visual timeline that
outlines when each feature or initiative will
be delivered.

• Frameworks: Using methods like

MoSCoW (Must-have, Should-have,
Prioritization: Could-have, Won’t-have), RICE (Reach,
Impact, Confidence, Effort), and Kano
Model to prioritize features.

• Balancing the needs and inputs from

Stakeholder Input: various stakeholders including customers,
sales, and engineering.

Agile and Lean Methodologies

• Principles: Emphasizing customer

collaboration, responding to change, and
delivering working software iteratively.
• Scrum Framework: Using sprints, daily
Agile:
standups, sprint reviews, and retrospectives
to manage work.
• Kanban: Visualizing work on a board to
manage flow and optimize the process.

• Principles: Focusing on value creation,

eliminating waste, and continuous
improvement.
• MVP (Minimum Viable Product):
Building the simplest version of the
Lean:
product that can be released to gather
feedback.
• Experimentation: Rapidly testing
hypotheses through experiments and
learning from results.

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PM CONCEPTS

User Experience (UX) and Design

• Research: Conducting user research to

understand needs and behaviors.
• Information Architecture: Organizing
content and features to make the product
UX Design:
intuitive.
• Interaction Design: Designing the
interface and interactions to ensure a
seamless user experience.

• Prototyping: Creating low-fidelity

(wireframes) and high-fidelity (interactive)
prototypes.
• User Testing: Gathering feedback on
Prototyping and Testing:
prototypes through usability testing
sessions.
• Iteration: Refining designs based on user
feedback and testing results.

Data-Driven Decision Making

• Data Collection: Implementing tools like

Google Analytics, Mixpanel, or
Amplitude to track user behavior.
• KPIs: Identifying key performance
Analytics: indicators such as user engagement,
retention, conversion rates, and revenue.
• Dashboards: Creating visual dashboards
to monitor and analyze product metrics in
real time.

• Experiment Design: Creating different

versions of a feature or page to test with
users.
• Measurement: Comparing performance
A/B Testing: metrics between the control group and test
group.
• Analysis: Using statistical methods to
determine the significance of results and
make data-driven decisions.

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TECH CONCEPTS

Agile

What is Agile?

The agile methodology is a project management technique that prioritizes

teamwork and project improvement while enabling the project to be completed
successfully and efficiently. The method can be used in software development to
promote cooperation, adaptability, and customer satisfaction. It describes the
application of a set of ideas that work by taking a gradual and participatory
approach. When it comes to software development, the Agile methodology places
a strong emphasis on teamwork and meeting customer expectations by delivering
a functional product on time.

How does Agile Software Development Work?

The Agile software development process is a series of actions that must be
taken sequentially. Sequence matters because of the following reasons:

•Requirements: The businesses here compile data on the needs of their clients and
rank them according to various criteria. It is necessary to comprehend the project's
direction and advancement at the outset.

•Planning: Creating a plan is a crucial step in providing the full version of the
software, complete with all of its features. Time is allotted in the plan for each
iteration's development and delivery.

•Development: The development team uses frequent, fast iterations to carry out
the program development.

•Testing: Software is tested to ensure that it satisfies the organization's quality

standards and the expectations of the client.

•Deployment: In this case, the company fulfils its primary goal of enabling
software utilization.

•Maintenance: To make sure that clients' needs and expectations are satisfied, the
software is regularly maintained.

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TECH CONCEPTS

Core Principles of Agile Software Development Methodology

•Achieving customer satisfaction by timely and regular delivery fitting the

customer requirements
•Delivering working software with minimal or no errors
•Earning a competitive edge by adapting to the changes in the market
•Sticking to the shortest time delivery with quality
•Including motivated and passionate individuals in building and developing the
project
•Accepting change in requirements and deliveries despite nearness to delivery
date
•Choosing the face-to-face communication method for efficient and effective
information disbursal
•Embracing excellence while estimating and improving the progress

Key Agile Development Concepts

Adaptability
The project must be flexible to meet the ever-evolving demands of the
development process. It saves time, boosts team confidence, helps the project
get back on track, and reduces productivity because of the mess. In order to
provide results on schedule, it also permits modifying the development and
deployment paths.
Disruption
Agile technique promotes adaptability in order to increase customer satisfaction
and produce high-quality results. It involves adjusting goals, priorities, and
culture. Even though the changes are difficult and unpleasant, managing
collective agreements improves performance while becoming simpler.
Collaboration
It is yet another highly regarded Agile idea that supports the development of
responsibility and trust. It facilitates the exchange of ideas and group debate to
enhance weak but potentially viable concepts.
Iterative Developments
In software development, rework for enhancements is a typical occurrence.
Here, the iterative method adheres to a close-knit feedback loop for ongoing
progress. It is the fundamental idea of agile development.

Incremental Development
It entails developing a rudimentary software version that has all the necessary
functionalities. As voted upon during the conversations or meetings, more
enhancements are done. The components of the software are updated, and new
features that are easy to use are added.
Milestone Checks
Its goal is the growth and development of both clients and teams. Once the
teams reach a particular and important point in the project, they examine the
earlier advancements.

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TECH CONCEPTS

Popular Agile Methodologies

Scrum
In the context of agile software development, Scrum is fairly popular. For those
who are not familiar with it, it's a very complex procedure, but the fundamentals
involve repeated sprints with a fixed amount of work to be completed.
A sprint in a scrum lasts two to four weeks. The product owner selects the tasks
that will go from the main list (product backlog) to the sprint to-do list (sprint
backlog) at the start of the sprint. The development team strives to finish the
sprint backlog in the allotted time, under the direction of a Scrum Master who is
knowledgeable about the Scrum process.
Every day, the Scrum team gets together for stand-ups or scrums to make sure
everyone is in agreement regarding potential obstacles and the next tasks that
need to be finished. Until a product is finished or all stakeholders are satisfied,
this procedure is repeated. A retrospective is done at the conclusion of the sprint
to assist the team in understanding what went well and what they can do better.

Kanban
A very straightforward agile procedure, Kanban is frequently used in
conjunction with other agile techniques like Scrum. This task management
application limits the amount of work that may be done at any one time and
visualizes all of the necessary tasks to maximize efficiency.
Tasks are arranged visually on Kanban boards in a Kanban process, allowing
work items to proceed without interruption even when modifications are made
along the way.
A Kanban board can be as simple as three columns (To-Do, Doing, and Done),
which let work move freely from one stage to the next. One example of an
online Kanban board is Trello.
The team should be able to see the kanban boards when they are positioned in a
visible area of the office. This can appear to be an open-access internet resource
for virtual teams. This facilitates a consensus regarding action items among all
stakeholders in a top-down manner. To find out the most crucial task for the day,
one only needs to glance at the Kanban board.

Lean
In conjunction with the five lean principles, which were first developed by
Toyota, lean is a guiding philosophy that facilitates teams' increased
productivity, effectiveness, and efficiency. It can be used with many software
development and agile approaches.
The core idea of lean software development is to increase productivity by
cutting out unnecessary tasks and activities. It offers a straightforward method
for implementing agile concepts in sizable or expanding companies.

Extreme Programming
The agile methodology known as "extreme programming" (XP) aims to enhance
software responsiveness and quality while adapting to changing client needs.
Extreme programming's ultimate goal is to produce excellent outcomes in all
areas of the project, not just the finished product.
The five XP values of communication, simplicity, feedback, courage, and
respect serve as the foundation for decision-making. The intricacies of XP won't
work in every circumstance, but the overall structure can benefit any team.

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TECH CONCEPTS

Introduction to Artificial Intelligence (AI)

Definition:
The simulation of human intelligence processes by machines, particularly
computer systems. These processes include learning (the acquisition of
information and rules for using the information), reasoning (using rules to reach
approximate or definite conclusions), and self-correction.

Core Concepts in AI

Machine Learning (ML): A subset of AI that uses statistical techniques to give

computers the ability to learn from data without being explicitly programmed.
The aim is to enable machines to improve their performance on a given task with
experience.

Types of Machine Learning:

Supervised Learning: Learning from labelled data where the algorithm is

trained on input-output pairs. Common algorithms include linear regression,
logistic regression, and support vector machines.
Unsupervised Learning: Learning from unlabeled data to identify patterns and
structures within the data. Common algorithms include k-means clustering,
hierarchical clustering, and principal component analysis (PCA).
Reinforcement Learning: Learning through interactions with an environment to
maximize some notion of cumulative reward. Techniques include Q-learning,
deep Q-networks (DQN), and policy gradient methods.
Deep Learning: A subset of machine learning involving neural networks with
many layers (deep neural networks). It excels in tasks like image and speech
recognition.

Key Architectures:

Convolutional Neural Networks (CNNs): Primarily used for image recognition

tasks. They automatically and adaptively learn spatial hierarchies of features
through backpropagation.

Recurrent Neural Networks (RNNs): Used for sequential data such as time
series and natural language. They have loops in their architecture, allowing
information to persist.

Transformers: A type of model that relies on attention mechanisms to handle

long-range dependencies in data, used extensively in NLP tasks (e.g., BERT,
GPT).

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TECH CONCEPTS

Generative AI (Gen AI)

Definition: Generative AI refers to AI systems that can create new content, such
as text, images, music, and video, based on the data they have been trained on.
Applications:

Natural Language Generation (NLG): Creating human-like text for

applications such as chatbots, article generation, and language translation (e.g.,
GPT-3, GPT-4).

Image Generation: Creating realistic images from textual descriptions or from

other images (e.g., DALL-E, StyleGANs).

Music and Art Generation: Composing music and creating artwork

autonomously or in collaboration with humans (e.g., AIVA for music, DeepArt
for art).

Key Technologies
Generative Adversarial Networks (GANs): Consist of two neural networks, a
generator and a discriminator, that contest with each other. The generator
creates data, and the discriminator evaluates it, leading to the generation of
highly realistic data.

Variational Autoencoders (VAEs): Encode input data into a latent space and
then decode it back to reconstruct the data, used for generating data similar to
the training set.

Transformer Models: Use attention mechanisms to process input data in

parallel rather than sequentially, making them efficient for tasks like text
generation and understanding (e.g., GPT-4, BERT).

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TECH CONCEPTS

Cloud Computing
Cloud computing is the on-demand access of computing resources—physical
servers or virtual servers, data storage, networking capabilities, application
development tools, software, AI-powered analytic tools, and more—over the
internet with pay-per-use pricing.
Benefits:
On-demand self-service: Users can provision computing resources as needed
automatically without requiring human interaction with each service provider.

Broad network access: Cloud services are available over the network and
accessed through standard mechanisms, promoting use by heterogeneous thin or
thick client platforms.
Resource pooling: The provider’s computing resources are pooled to serve
multiple consumers using a multi-tenant model, with different physical and
virtual resources dynamically assigned and reassigned according to consumer
demand.

Rapid elasticity: Capabilities can be elastically provisioned and released to

scale rapidly outward and inward commensurate with demand.

Measured service: Cloud systems automatically control and optimize resource

use by leveraging a metering capability at some level of abstraction appropriate
to the type of service (e.g., storage, processing, bandwidth).

Types of Cloud Computing Services

Infrastructure as a Service (IaaS): Provides virtualized computing resources

over the internet. Users can rent virtual machines, storage, and networks as
needed.

Examples:

•AWS EC2: Offers scalable computing capacity in the cloud.

•Google Compute Engine: Provides virtual machines running in Google’s data
centers.
•Microsoft Azure Virtual Machines: Allows users to deploy and manage
virtual machines in the cloud.

Benefits:
•High flexibility and scalability.
•Cost savings on hardware and infrastructure.
•Control over computing resources.

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TECH CONCEPTS

Software as a Service (SaaS): Delivers software applications over the internet

on a subscription basis. Users can access the software from any device with an
internet connection.

Examples:

•Salesforce: Provides customer relationship management (CRM) services.

•Google Workspace: A suite of productivity and collaboration tools, including
Gmail, Docs, Drive, and Calendar.
•Microsoft Office 365: Cloud-based subscription service offering office
applications and productivity services.
Benefits:
•Accessibility from any device with internet access.
•Automatic updates and patch management.
•Reduced need for internal IT resources to manage software.
Function as a Service (FaaS): A serverless computing service that lets
developers execute code in response to events without managing the underlying
infrastructure.

Examples:

•AWS Lambda: Runs code in response to events and automatically manages the
compute resources.
•Google Cloud Functions: Executes code in response to events from Google
Cloud services.
•Azure Functions: Allows users to run event-triggered code without having to
explicitly provision or manage infrastructure.

Benefits:
•Pay only for the compute time you consume.
•No need for server management.
•Automatically scales with the number of events.

Deployment Models in Cloud Computing

Public Cloud: Cloud infrastructure and services provided by third-party vendors
over the internet, shared across multiple organizations.

Examples: AWS, Microsoft Azure, Google Cloud Platform.

Benefits:
•Cost-effective as you pay for what you use.
•High scalability and flexibility.
•Wide range of services and tools available.
Challenges:
•Limited control and customization.
•Potential data security and privacy concerns.

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TECH CONCEPTS

Private Cloud: Cloud infrastructure operated solely for a single organization,

either managed internally or by a third-party, and hosted either on-premises or
off-site.

Examples: VMware vSphere, Microsoft Private Cloud.

Benefits:
•Enhanced security and privacy.
•Greater control and customization over resources.
•Can meet specific compliance requirements.
Challenges:
•Higher cost due to the need to purchase and maintain hardware.
•Limited scalability compared to public clouds.

Hybrid Cloud: Combines public and private clouds, allowing data and
applications to be shared between them.

Examples: Azure Stack, AWS Outposts.

Benefits:
•Flexibility to choose the optimal deployment model for each workload.
•Enhanced disaster recovery and business continuity.
•Cost-efficient use of public cloud resources while maintaining critical
applications on private clouds.
Challenges:
•Complexity in managing and integrating different environments.
•Potential security and compliance issues.

Multi-Cloud: Use of multiple cloud computing services in a single architecture,

often from different providers.

Benefits:
•Avoid vendor lock-in by using services from multiple providers.
•Optimized service selection to match specific requirements.
•Redundancy and risk mitigation by distributing workloads across multiple
clouds.
Challenges:
•Complexity in managing multiple cloud environments.
•Integration and interoperability issues.
•Consistent security and compliance across different platforms.

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TECH CONCEPTS

Cloud Computing Architectures

Microservices Architecture: An architectural style that structures an application

as a collection of small, loosely coupled services, each running in its own process
and communicating via lightweight mechanisms.

Benefits:
•Improved scalability and fault isolation.
•Faster development and deployment cycles.
•Independent deployment of services.
Challenges:
•Increased complexity in managing inter-service communication.
•Requires effective monitoring and logging solutions.
•Potential performance overhead due to network latency.

Serverless Architecture: A cloud-computing execution model where the cloud

provider runs the server, dynamically managing the allocation of machine
resources.

Benefits:
•No server management required.
•Automatic scaling based on demand.
•Cost-effective as you pay only for the compute time used.
Challenges:
•Limited control over the underlying infrastructure.
•Potential cold start latency.
•Requires event-driven programming paradigms.

Containers : Lightweight, portable, and consistent runtime environments for

applications, encapsulating an application and its dependencies into a single
package.

Technologies:
•Docker: A platform that enables developers to easily create, deploy, and run
applications using containers.
•Kubernetes: An open-source system for automating deployment, scaling, and
management of containerized applications.

Benefits:
•Consistent environments across development, testing, and production.
•Improved resource utilization and efficiency.
•Simplifies application deployment and scaling.
Challenges:
•Requires orchestration and management tools like Kubernetes.
•Security concerns with container images and runtimes.
•Learning curve for containerization and orchestration technologies.

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TECH CONCEPTS

Virtualization:

Creating virtual versions of physical components like servers, storage devices,

and network resources, allowing multiple virtual instances to run on a single
physical device.

Benefits:
•Improved resource utilization by running multiple virtual machines on a
single physical server.
•Isolation between virtual machines enhances security and fault tolerance.
•Flexibility to run different operating systems and applications on the same
hardware.
Challenges:
•Overhead of managing virtual machines.
•Performance overhead due to virtualization.
•Requires robust management and monitoring tools.

Augmented Reality (AR) and Virtual Reality (VR)

AR: Augmented Reality (AR) combines the digital world with real elements. It is
a technology that is equally suitable for mobile devices and desktops. What
makes it special is the fact that it offers the possibility of reflecting digital
components in the real world.

Examples: Pokémon GO, Snapchat filters, IKEA Place.

Usage: Enhancing the real-world environment with contextual information,
interactive experiences, and immersive interfaces.

VR: VR creates a completely immersive digital environment that replaces the

user's real-world surroundings. Users interact with this artificial environment
using specialized equipment like VR headsets and controllers.

Examples: Oculus Rift, HTC Vive, PlayStation VR.

Usage: Immersive gaming, virtual tours, simulation training, and therapeutic
application

Key Components and Technologies

Hardware:

•AR Devices:
•Smartphones and Tablets: Commonly used for AR apps due to their
cameras and processing power.
•AR Glasses and Headsets: Devices like Microsoft HoloLens and
Google Glass provide hands-free AR experiences.
•Smart Lenses: Emerging technology that integrates AR directly into
contact lenses.

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TECH CONCEPTS

•VR Devices:
•Head-Mounted Displays (HMDs): Devices like Oculus Rift and HTC
Vive that provide immersive visual and auditory experiences.
•Motion Controllers: Handheld devices that track the user's hand
movements and provide haptic feedback.
•VR Gloves and Suits: Wearable technology that provides tactile
feedback and full-body tracking for more immersive experiences.
•360-Degree Cameras: Capture immersive video content for VR
environments.

Software:

•AR Software Development Kits (SDKs):

•ARKit (Apple): Provides tools for developers to create AR experiences
on iOS devices.
•ARCore (Google): Enables AR applications on Android devices.
•Vuforia: A widely-used platform for developing AR applications across
different devices.

•VR Software and Engines:

•Unity: A versatile game engine commonly used for creating both AR and
VR experiences.
•Unreal Engine: A powerful game engine known for high-fidelity
graphics and VR development capabilities.
•Blender: An open-source tool for creating 3D models and environments
used in VR.

Applications of AR and VR

Healthcare:

•AR Applications:
•Surgical Assistance: Overlays critical information on surgeons’ view
during procedures.
•Medical Training: Provides interactive 3D models for anatomy
learning and surgical simulations.
•Rehabilitation: Offers gamified physical therapy exercises to engage
patients.

•VR Applications:
•Mental Health Therapy: Uses virtual environments for exposure
therapy in treating PTSD, anxiety, and phobias.
•Pain Management: VR experiences can distract patients from pain
during medical procedures.
•Medical Training: Immersive simulations for practicing complex
surgical procedures.

PM Compendium - bITeSys 21
TECH CONCEPTS

Retail and E-Commerce:

•AR Applications:
•Virtual Try-Ons: Allows customers to see how products like clothes,
glasses, and makeup will look on them.
•Product Visualization: Enables users to see how furniture and home
decor will look in their space.

•VR Applications:
•Virtual Stores: Immersive shopping experiences where users can browse
and purchase products in a virtual environment.
•Product Demos: Interactive product demonstrations and experiences in
VR.

Entertainment and Gaming:

•AR Applications:
•Mobile Games: Games that integrate the real world with digital
elements, such as Pokémon GO.
•Interactive Experiences: Augmented experiences at live events and
theme parks.

•VR Applications:
•Immersive Gaming: Fully immersive gaming experiences with rich,
interactive environments.
•Virtual Cinemas: Watching movies and videos in a virtual theatre
setting.

PM Compendium - bITeSys 22
TECH CONCEPTS

Edge Computing

•Definition: Edge computing refers to processing data closer to the location

where it is generated, rather than relying on a central data-processing warehouse.
This approach minimizes latency, improves speed, and enhances real-time data
processing capabilities.
•Concept: By moving computation and data storage to the "edge" of the network
(near the data source), edge computing reduces the amount of data that needs to
be transmitted to the cloud or a central data center.
•Applications: IoT devices, autonomous vehicles, smart cities, and real-time
analytics.

Key Components and Technologies

Edge Devices:

IoT Devices:
•Internet of Things (IoT) devices are equipped with sensors and
actuators to collect and transmit data.
•Examples: Smart thermostats, wearable fitness trackers,
industrial sensors.
•Role in Edge Computing: Generate data that can be processed
locally or at nearby edge servers to reduce latency.
Edge Servers and Gateways:
•Intermediate devices that provide local processing, storage, and
filtering of data before it is sent to the cloud.
•Examples: Local servers, gateway devices in industrial IoT
setups.
•Role in Edge Computing: Perform preliminary data
processing, analytics, and decision-making tasks closer to the
data source.

Edge Networks:

5G Technology:
•The fifth generation of mobile network technology that offers
higher speeds, lower latency, and greater connectivity.
•Role in Edge Computing: Enhances the capability of edge
computing by providing faster and more reliable data
transmission, enabling real-time applications.
Fog Computing:
•An extension of cloud computing that involves a decentralized
computing infrastructure, where data, compute, storage, and
applications are distributed in the most efficient place between
the data source and the cloud.
•Role in Edge Computing: Facilitates intermediate processing
between edge devices and the cloud, reducing latency and
bandwidth usage.

PM Compendium - bITeSys 23
TECH CONCEPTS

Applications of Edge Computing

Industrial IoT (IIoT):

•/Smart Manufacturing:
•Real-time monitoring and analytics of manufacturing processes to improve
efficiency and reduce downtime.
•Example: Predictive maintenance systems that analyze data from machinery
sensors to predict failures before they occur.

Supply Chain Management:

•Application: Enhances visibility and control over the supply chain through real-
time tracking and analytics.
•Example: IoT sensors on shipping containers providing real-time location and
condition monitoring.

Autonomous Vehicles:
•Real-Time Data Processing:
•Application: Vehicles equipped with sensors and processors to make real-time
driving decisions.
•Example: Autonomous cars that use edge computing to process data from
LiDAR, cameras, and other sensors for navigation and obstacle avoidance.

Benefits:
•Reduced Latency: Processing data closer to the source reduces the time it takes
for data to travel to the cloud and back, which is critical for time-sensitive
applications.
•Example: Autonomous vehicles need immediate data processing to ensure safe
and efficient operation.
•Bandwidth Optimization: By processing data locally, edge computing reduces
the amount of data that needs to be transmitted to central servers, saving
bandwidth and reducing costs.
•Example: Video surveillance systems that analyze footage at the edge and only
send relevant clips to the cloud.

Challenges:
•Complexity in Deployment: Setting up and managing a distributed network of
edge devices can be complex and requires robust infrastructure.
•Example: Coordinating between numerous edge devices in a smart city setup.
•Security Concerns: While edge computing can enhance security, it also
introduces new vulnerabilities that need to be managed.
•Example: Ensuring that edge devices have up-to-date security patches and
protections against cyber threats.
•Data Management: Handling and processing large volumes of data locally
requires efficient data management strategies.
•Example: Filtering and prioritizing data at the edge to ensure critical
information is processed in real-time.

PM Compendium - bITeSys 24
PRODUCT DESIGN

Product design questions are a staple in product management interviews. These

open-ended questions assess your ability to understand user needs, channel
creativity, align solutions with business goals, and prioritize effectively—all
essential skills for a successful product manager. Whether you're asked to
improve an existing product or design one from scratch, a structured approach is
key to delivering a compelling answer.

Two Common Types of Product Design Questions:

Product Improvement:
How would you enhance an existing product like WhatsApp or Spotify?

New Product Design: Design a smart shoe or an app for trekking enthusiasts.

Pitfalls to Avoid:

• Don't jump straight • A disjointed answer • Seek clarification if

into listing features without a clear the question is vague
without establishing structure won't or about an
the problem you're impress the unfamiliar product.
solving and the target interviewer.
audience.

Feature Unorganized Forgetting to

Fixation: Rambling: Ask Questions:

PM Compendium - bITeSys 25
FRAMEWORKS

CIRCLES Framework

The CIRCLES method is a problem-solving framework that helps product

managers (PMs) make a thorough and thoughtful response to any design
question. The seven linear steps of the process from the CIRCLES acronym:
Comprehend the situation; identify the customer; report the customer’s
needs; cut through prioritization; list solutions; evaluate tradeoffs, and
summarize your recommendation

Comprehend the Situation : A product manager should seek to gather as much

information as possible about a design question. During this stage, it’s a good time
to ask as many questions as you want to understand the context better: Who is the
product for? What problem is the product trying to solve?

Identify the Customer : The next step is to identify the customer you want to
reach. That’s going to consist of finding information such as their demographics,
challenges, goals, income level, etc.

Report Customer’s Needs : “Report customer needs” means to identify what the
customer wants to achieve with your product and the problems they want to solve.
You can use the user story format to detail this information as follows: "As a [type
of user], I want/need to [perform an action] so that [the intended result].”

Cut Through Prioritization : Ranking which feature you need you want to solve
first in the product roadmap. You can prioritize user stories based on their impact
on revenue, customer satisfaction, and effort etc

List Solutions : Start listing solutions for each user story you created. These
solutions must be features you can include in the product that will solve your
customer’s needs.

Evaluate Tradeoffs : After listing your solutions, evaluate the tradeoffs of each
solution. It involves thinking about the benefits of each solution, along with the
potential constraints.

Summarize Recommendation : The last step is to summarize everything you

discussed during the interview.

PM Compendium - bITeSys 26
FRAMEWORKS

CIRCLES Framework Example

Objective : Develop an application for lawyers like Practo.

Comprehend the Situation : The requirement for the defined situation is to
develop an application for enabling users to avail legal consultation similar to
medical consultation like Practo.

Identify the Customer : Customers for this application would be individuals or a

small group of individuals who unlike an organization, do not have legal
teams/counsels dedicated for their legal requirements

Report Customer’s Needs : A typical customer requirement set would consist of

the following :
Slot booking for legal consultation, Choose legal practitioners, Track updates on
legal proceedings, Raise concerns/issues, Maintain history of legal proceeds

Cut Through Prioritization : The various customer requirement can be

prioritized based on factors such as impact on revenue, customer satisfaction, and
effort etc

List Solutions : Based on the impact and customer satisfaction of the various
requirements mentioned, 2 key features can be shortlisted for a Minimum Viable
product (Slot booking for legal consultation, Choose legal practitioners).

Evaluate Tradeoffs : Although customers would be able to book slots and select
legal practitioners, the Minimum Viable product based on solutions listed would
not have features to track updates and maintain legal proceeds history which might
also be significant in value to the user

Summarize Recommendation : Having analyzed the customer and their range of

requirements, the below are the solutions that can be presented to them by
prioritizing and evaluating tradeoffs :

Minimum Viable Product consisting of (Slot booking for legal consultation,

Choose legal practitioners) features
Further enhancements to the app would include (Track updates on legal
proceedings, Raise concerns/issues, Maintain history of legal proceeds) features

PM Compendium - bITeSys 27
FRAMEWORKS

Pysch Conversion - U/X Design Framework

The Psych Conversion framework is a methodology to evaluate the user

experience of a product/feature by accounting for both positive (Eg. Good
and clean interface) and negative attributes (Eg. Too many fields to fill).

The idea behind the framework is to be in the shoes of the user and gauge the
changes (through psyche scores) in their energy and motivation to use the
product from the starting point.
By evaluating the Psych score of all the Psych elements,product managers can
identify opportunities to increase user excitement and growth, and hence,
conversion.

Hook Model

At its core, the Hook Model is about creating a user habit.

The more users experience hooks, the more likely that these hooks will
then become habit-forming. Companies guide users through a series of
experiences which form the basis for the hooks

Example : Snapchat’s streak feature for a user’s story creates a habit to

increase user engagement in the app through habit formation

PM Compendium - bITeSys 28
FEATURE PRIORITIZATION

Product managers are the navigators of a product's journey, constantly making

decisions about its future direction. However, this isn't a solitary endeavor. They
collaborate with stakeholders across the organization and prioritize customer
feedback to shape the product roadmap.

Without a structured prioritization framework, product decisions can easily

become subjective and prone to conflict. A well-defined prioritization process
not only brings clarity but also fosters consensus among stakeholders. It instills
confidence in the product roadmap and ensures that resources are allocated to
initiatives that truly matter. While numerous frameworks exist, some of the most
commonly used include:
RICE Model
The RICE scoring model is a prioritization framework designed to help
product managers determine which products, features, and other initiatives to
put on their roadmaps by scoring these items according to four factors. These
factors, which form the acronym RICE, are reach, impact, confidence,
and effort.
It can enable product managers to make
•better-informed decisions
•minimize personal biases in decision-making
•help them defend their priorities to other stakeholders
1. Reach 3.Confidence
•Reach understands how many people •The confidence component of your
you estimate your initiative will reach in RICE score helps you control for
a given timeframe. projects in which your team has data to
support one factor of your score but is
•For Example: if you estimate your relying more on intuition for another
project will deliver 1,200 new prospects factor.
to your trial download page within the •
next month and 30% of those prospects •For Example: When determining your
will sign up, your reach score is 360. confidence score for a given project,
your options can be:
2. Impact •100% = high confidence, 80% =
•The impact can reflect a quantitative medium confidence, 50% = low
goal, such as how many new confidence. If you reach a confidence
conversions for your project will result score below 50%, consider it a
when users encounter it. “moonshot” and assume your priorities
•The following scale can be used: must be elsewhere.
•3 = massive impact
•2 = high impact 4. Effort
•1 = medium impact •The Effort is the score that represents
•.5 = low impact the total number of resources (product,
•.25 = minimal impact design, engineering, testing, etc.) needed
to complete the initiative over a given
period of time—typically “person-
months”—and that is your score.

•For Example: if you estimate a project

will take three person months, your
effort score will be 3.

PM Compendium - bITeSys 29
FEATURE PRIORITIZATION

MoSCoW Model
The MoSCoW method is a four-step approach to prioritizing which project
requirements provide the best return on investment (ROI). MoSCoW stands
for must have, should have, could have, and will not have -- the o's make the
acronym more pronounceable.

•Resolves disputes and forms agreements with stakeholders.

•Ensures a minimum viable product is produced.
•Sets priorities at different levels of the development pipeline.
•Enables categorizing requirements to rely on the expertise of the team.
•It can be used for both existing and new projects.

1. Must Have
• It includes all the requirements necessary for the project's successful
completion. These are non-negotiable elements that provide the
minimum usable subset of requirements.
• Without this requirement, there is no point in completing the project
by its target deadline. The final product or software would not deliver
an effective solution.

2. Should Have
• If the final product doesn't include should-have requirements, then the
product still functions. However, if it includes should-have elements,
they greatly increase the product's value.
• For Example, Minor bug fixes, performance improvements, and new
functionality are all requirements that could fall into this category.

3. Could Have
• This category includes requirements with a much smaller impact
when left out of the project. As a result, could-have requirements are
often the first ones teams deprioritize.
• Teams can distinguish a should-have element from a could-have
element by assessing the pain caused by leaving the requirement out.

4. Will Not Have

• Assigning elements to the will-not-have category helps strengthen the
focus on requirements in the other three categories while also setting
realistic expectations for what the final product does not include.
Furthermore, this category is beneficial in preventing scope creep.
• The team can eventually reprioritize some requirements in the will-
not-have group and work them into future projects; others are never
used.

PM Compendium - bITeSys 30
FEATURE PRIORITIZATION

MoSCoW Model Example

Objective : Outline the feature list for an OTT platform application

1. Must Have (Non-negotiable features)

• Login/Logout
• Play
• Pause
• Close

2. Should Have (Functioning application even without these features)

• Seek Video
• Forward/Rewind during video playback
• Download video (Offline access)

3. Could Have (Less impact to functionality/Value addition to UX)

• Subtitles
• Modify speed of video playback
• Resume playback from last viewed timestamp

4. Will Not Have

• Screenshot of video playback

• Password sharing/Login from multiple devices
(as per pricing guidelines)

PM Compendium - bITeSys 31
FEATURE PRIORITIZATION

Kano Model
The Kano Analysis model (pronounced “Kah-no”), also known as the
“Customer Delight vs. Implementation Investment” approach, is an
analysis tool that enables you to understand how customer emotional
responses to products or features can be measured and explored.
The idea is that, as important as the basic functions of products or
services are, adding new attractive features will help with customer
satisfaction. For instance, when buying a new car, you’d expect the car to go
faster when you accelerate. However, adding a virtual assistant feature would
increase customer satisfaction and make you stand out from competitors.
The model assigns three types of attributes (or properties) to products and
services:

1. Threshold Attributes (Basics): These are the basic features that customers
expect a product or service to have. For example, when you book into a hotel,
you'd expect hot water and a bed with clean linen as an absolute minimum.

2. Performance Attributes (Satisfiers): These elements are not absolutely

necessary, but they increase a customer's enjoyment of the product or service.
You'd be pleased to discover that your hotel room had free superfast broadband
and an HD TV when you'd normally expect to find paid-for Wi-Fi and a standard
TV.

3. Excitement Attributes (Delighters): They are the features that customers

don't even know they want but are delighted with when they find them. In your
hotel room, you might be finding the complementary Belgian chocolates that the
evening turn-down service has left on the bed

PM Compendium - bITeSys 32
METRICS

North Star Metric

The North Star Metric is the single most important metric that reflects the value
your product delivers to customers and drives long-term business success. It
serves as a focal point for the entire organization, aligning efforts, and ensuring
every initiative contributes to overall growth.

Key Characteristics:
•Customer-Centric: Directly measures the Examples:
value customers receive.
• Revenue-focused: A leading indicator of •Airbnb: Nights booked
revenue growth. •Facebook: Daily active users
•Measurable and Actionable: Easily •Spotify: Time spent listening
quantifiable and provides a clear target. •Slack: Daily active users with
messages sent

HEART Framework

The HEART framework is a popular method used by Product Managers to gauge

and improve the User Experience (UX) of any feature in a software. It uses a
combination of powerful metrics to measure the impact created by new/existing
features on the quality of User Experience

Happiness: Measures user satisfaction

Engagement: Quantifies user interaction frequency/intensity
Adoption: Tracks new users of a product/feature
Retention: Assesses continued product usage
Task Success: Monitors efficiency, effectiveness, and error rates

PM Compendium - bITeSys 33
METRICS

AARRR Pirate Metrics Framework

The AARRR framework, also known as the Pirate Metrics, is a model used to
measure and optimize the performance of a product or service. Each letter in
"AARRR" represents a different stage in the customer journey. Let's sail through
them together: The AARRR framework offers a structured approach to
understanding the customer journey, from acquisition to referral. It enables the
identification of areas for improvement and optimization. By tracking and
measuring key metrics at each stage, informed decisions can be made to steer
the path toward success!

1.Acquisition:
• This initial stage focuses on attracting new customers to the product. It
encompasses a range of marketing and acquisition strategies, including
advertising, search engine optimization, social media campaigns, and content
marketing. The primary objective is to attract potential customers and capture
their interest in the offering.
2. Activation:
• Once potential customers have been acquired, the aim is to activate them and
convert them into active users. This stage revolves around encouraging new
users to undertake a desired action, such as signing up, completing their
profiles, or making their first purchase. The goal is to provide a seamless
onboarding experience that highlights the value of the product, fostering
continued engagement.
3. Retention:
• Retention is when the focus shifts to retaining existing customers and
nurturing long-term relationships with them. The objective is to deliver an
exceptional user experience, continually provide value, and ensure customer
satisfaction. Strategies such as regular communication, personalized offers,
loyalty programs, and top-notch customer support can bolster customer
retention.
4. Revenue:
• The revenue stage centers on generating income from customers. It
encompasses various monetization strategies, including subscriptions, one-
time purchases, upselling, cross-selling, and advertising. The goal is to
maximize the revenue derived from each customer, ensuring the business
sustains itself financially.
5. Referral:
• A referral is when customers become enthusiastic advocates and spread the
word about the product to others. Customers can transform into brand
ambassadors by leveraging the power of word-of-mouth marketing by
providing an exceptional product experience and incentivizing referrals.
Encouraging and rewarding them for referring others can drive organic growth
and expand the customer base.

PM Compendium - bITeSys 34
METRICS

Feature Specific Metrics :

3 Step Approach –

Step 1 : Define a qualitative objective and a NorthStar metric for the feature

Step 2 : Define Level 2 metrics from the business perspective of the feature

Step 3 : Define Level 3 Metrics from the user experience perspective of the
feature

Example : What would be the key metrics to track for Netflix's

"My List" feature?

Objective : To enable access to user's personalized content

L3 : Metrics |
UX perspective of feature

Changes made to MyList

per user L2 : Metrics |
Business perspective of feature
Completion Rate of
content in MyList User adoption rate
of feature
NORTHSTAR
Frequency of usage of
feature Change in No of times My List is
engagement post accessed
feature deployment
Correlation in MyList of
user with
recommendation system User
acquisitions/Churn
Time taken/No of steps to post feature
add video title to MyList deployment

Time taken b/w content

added to mylist and the
content being watched

PM Compendium - bITeSys
35
GUESSTIMATES

During product management interviews, you might encounter "guesstimate"

questions. These questions ask you to estimate a business-related number, even
if you haven't encountered that specific metric before. Think of it as a mental
workout – these questions aren't about knowing the exact answer but showcasing
your ability to analyze, break down complex problems, and arrive at a
reasonable estimate.

Why Guesstimates Matter

While you may not face these types of questions every day on the job, the skill of
making educated guesses and using logic to solve problems is invaluable for
product managers. Consider these real-world scenarios:

"When should we release this product to maximize impact?"

"If we launch a premium subscription for our streaming service, what percentage
of existing users do you estimate would upgrade?"
"How much revenue could we generate in the first year by introducing in-app
purchases to our mobile game?"
"If we were to add a 'night mode' feature to our photo editing app, what percentage
of users do you think would utilize it?"
These decisions often need to be made without complete data. Guesstimates help
you develop the confidence to make informed choices based on reasoning and
logical deduction.

Remember:

•Don't Panic: You're not expected to know obscure metrics off the top of your
head.

•Think Out Loud: Explain your thought process to the interviewer. Your logic
is just as important as your final estimate.

•Practice Makes Perfect: The more you practice guesstimate questions, the
more comfortable you'll become with the process.

PM Compendium - bITeSys 36
GUESSTIMATES

Guesstimate – 1
Question : How much revenue does Spotify generate per month from its
Premium subscription service in India?

Step 1: Clarifying Questions

•Focus: Are we estimating revenue from Premium subscriptions only

(excluding ad-supported tier)?
•Region: Are we interested in India-specific revenue?
•Other Revenue Streams: Are we ignoring other revenue sources like
merchandise or partnerships?
Assumptions: For this guesstimate, we'll focus solely on Premium
subscription revenue in India.

Step 2: Approach

We can break down the problem into three parts:

1.Estimate the number of Spotify Premium subscribers in India.
2.Estimate the average monthly subscription price in India.
3.Calculate total monthly revenue.
Step 3: Calculations

A. Number of Premium Subscribers:

•India's Population: Roughly 1.4 billion
•Age Demographics: Assume a target market of 15-45 years old, approximately
50% of the population (700 million)
•Smartphone Penetration: Assume 60% smartphone penetration within the
target market (420 million)
•Music Streaming Users: Assume 40% of smartphone users in the target
market use music streaming apps (168 million)
•Spotify Market Share: Assume Spotify has a 25% market share among music
streaming users in India (42 million)
•Premium Conversion Rate: Assume 10% of Spotify users in India are
Premium subscribers (4.2 million)
B. Average Monthly Subscription Price:

•Standard Premium Price: Assume a standard price of ₹120 per month.

•Discounts/Promotions: Assume an average discount of 10% due to various
offers (₹108 per month)

C. Total Monthly Revenue:

•Revenue: 4.2 million subscribers * ₹108/month = ₹453.6 million
Step 4: Sense Check
•Subscriber Base: 4.2 million Premium subscribers in India seems reasonable
given Spotify's global reach and India's large population.
•Revenue: ₹453.6 million per month aligns with the fact that India is a growing
market for music streaming services.

Important Note: This is just a guesstimate. Actual figures may vary due to
numerous factors. The goal is to demonstrate a logical approach to arriving at a
reasonable estimate. PM Compendium - bITeSys 37
GUESSTIMATES

Guesstimate – 2
Question : How many orders does Swiggy, a popular food delivery app,
process per day in a major Indian city like Mumbai?

Step 1: Clarifying Questions

•Scope: Are we estimating total orders or only those from restaurants

(excluding grocery/other deliveries)?
•Location: Are we focusing specifically on Mumbai?
•Time Period: Are we interested in daily orders?

Assumptions: For this guesstimate, we'll focus on total restaurant orders

processed by Swiggy in Mumbai in a single day.

Step 2: Approach

We can break down the problem into three parts:

1.Estimate the population of Mumbai.
2.Estimate the percentage of the population that uses food delivery apps.
3.Estimate Swiggy's market share among food delivery apps in Mumbai.
4.Estimate the average number of orders per Swiggy user per day.
5.Calculate the total daily orders for Swiggy.

Step 3: Calculations

A. Population of Mumbai:
•Mumbai Population: Roughly 20 million

B. Food Delivery App Users:

•Target Demographic: Assume a target market of 18-45 years old,
approximately 40% of the population (8 million).
•App Usage: Assume 50% of the target demographic uses food delivery apps (4
million).

C. Swiggy's Market Share:

•Market Share: Assume Swiggy has a 60% market share among food delivery
apps in Mumbai (2.4 million Swiggy users).

D. Orders per User per Day:

•Average Orders: Assume an average of 0.5 orders per Swiggy user per day.

E. Total Daily Orders:

•Total Orders: 2.4 million users * 0.5 orders/user/day = 1.2 million orders

Step 4: Sense Check

•User Base: 2.4 million Swiggy users seems reasonable given Mumbai's large
population and the popularity of food delivery apps.
•Orders: 1.2 million daily orders aligns with the fact that Mumbai is a major
metropolitan area with a vibrant food culture.

PM Compendium - bITeSys 38
GUESSTIMATES

Guesstimate – 3
Question : How many active users does Paytm, a popular digital payments
app, have in India?

Step 1: Clarifying Questions

•Scope: Are we estimating the total number of registered users or only

monthly active users (MAU)?
Location: Are we focusing on India specifically?
User Type: Are we considering all types of users (consumers, merchants,
etc.) or just individual consumers?
Assumptions: For this guesstimate, we'll focus on estimating the number of
monthly active individual consumers in India.

Step 2: Approach

We can break down the problem into three parts:

1.Estimate the population of India.
2.Estimate the percentage of the population with access to smartphones.
3.Estimate the percentage of smartphone users who use digital payments apps.
4.Estimate Paytm's market share among digital payments apps in India.
5.Calculate the estimated number of active Paytm users.

Step 3: Calculations

A. Population of India:
•India Population: Roughly 1.4 billion

B. Smartphone Users:
•Smartphone Penetration: Assume roughly 50% smartphone penetration in
India (700 million).

C. Digital Payments App Users:

•Digital Payments Adoption: Assume 60% of smartphone users use digital
payments apps (420 million).

D. Paytm's Market Share:

•Market Share: Assume Paytm has a 30% market share among digital payments
apps in India (126 million).

E. Active Paytm Users:

•Active Users: Assume 80% of Paytm users are monthly active users (100.8
million).

Step 4: Sense Check

•Smartphone Penetration: 50% smartphone penetration in India seems
reasonable considering the country's digital growth.
•Digital Payments Adoption: 60% adoption of digital payment apps aligns with
the increasing popularity of digital transactions in India.
•Paytm's Market Share: 30% market share is plausible given Paytm's position
as a major player in the Indian digital payments space.
PM Compendium - bITeSys 39
GUESSTIMATES

Guesstimate – 4
Question : How many new users would adopt Apple Pay in India within the
first year of its launch?

Step 1: Clarifying Questions

•Scope: Are we estimating new Apple Pay users across all devices (iPhone,
Apple Watch, etc.)?
•Target Market: Are we focusing on the entire Indian market or a specific
segment (e.g., urban, affluent)?
•Launch Timeline: Are we assuming a simultaneous launch across India or a
Assumptions:
phased rollout? For this guesstimate, we'll assume a simultaneous launch
across India, targeting all potential Apple device users.

Step 2: Approach

We can break down the problem into three parts:

1.Estimate the number of Apple device users in India.
2.Estimate the percentage of Apple device users who are potential Apple Pay
adopters.
3.Consider factors influencing adoption (e.g., merchant acceptance, marketing
efforts, competitor landscape).
4.Calculate the estimated number of new users in the first year.

Step 3: Calculations

A. Apple Device Users:

•iPhone Market Share: Assume Apple has a 5% market share in the Indian
smartphone market.
•Total Smartphones: Assume there are 500 million smartphones in use in
India.
•iPhone Users: 500 million * 5% = 25 million
•Other Apple Devices: Estimate an additional 5 million Apple Watch, iPad, and
Mac users.
•Total Apple Device Users: 25 million + 5 million = 30 million
B. Potential Apple Pay Adopters:
•Adoption Rate: Assume an initial adoption rate of 20% among Apple device
users (6 million).
•Growth Rate: Assume a monthly growth rate of 5% for the first year.

C. Factors Influencing Adoption:

•Merchant Acceptance: Widespread acceptance at major retailers and online
platforms would be crucial for adoption.
•Marketing: Effective marketing campaigns to educate users about Apple Pay's
benefits would be essential.
•Competitor Landscape: The presence of established digital wallets like Google
Pay and Paytm could impact adoption rates.

PM Compendium - bITeSys 40
GUESSTIMATES

Guesstimate – 4 (Contd.)
D. Estimated New Users (First Year):

•Initial Adoption: 6 million users

•Monthly Growth: Calculate growth over 12 months, compounding at 5%
monthly. (This can be done using a spreadsheet or financial calculator.)
•Total New Users: Initial adoption + cumulative growth over 12 months

Step 4: Sense Check:

•Apple Device Users: 30 million seems reasonable given Apple's market

presence in India.
•Adoption Rate: 20% initial adoption is optimistic but achievable with strong
marketing and merchant acceptance.
•Growth Rate: 5% monthly growth might slow down over time as the early
adopter pool diminishes.

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GUESSTIMATES

Guesstimate – 5
Question : How many electric vehicle (EV) charging stations would be
needed in a major Indian city (e.g., Delhi) by 2030 to support the expected
growth in EV adoption?

Step 1: Clarifying Questions

•Scope: Are we estimating the total number of charging stations (public and
private) or focusing on public stations only?
•EV Types: Are we considering all types of EVs (cars, two-wheelers, buses,
etc.) or focusing on a specific segment?
•Charging Types: Are we including all types of charging stations (fast, slow,
etc.) or focusing on a specific type?
•City Size: Are we considering the entire city of Delhi or just a specific area?
Assumptions: For this guesstimate, we'll focus on estimating the number of
public fast-charging stations needed for electric cars in the entire city of Delhi
by 2030

Step 2: Approach

We can break down the problem into three parts:

1.Estimate the projected number of electric cars in Delhi by 2030.
2.Estimate the average charging frequency and duration for electric cars.
3.Estimate the optimal ratio of charging stations to electric cars.
4.Calculate the required number of charging stations.

Step 3: Calculations

A. Projected Electric Cars in Delhi (2030):

•Current Car Population: Assume Delhi has 10 million registered vehicles,
with 5% being electric (500,000).
•EV Adoption Rate: Assume a 20% annual growth rate in EV adoption.
•Electric Cars in 2030: Project the growth over 7 years (2024-2030) using
compound annual growth rate (CAGR) formula. (Calculate using a spreadsheet
or financial calculator)

B. Charging Frequency and Duration:

•Average Daily Usage: Assume an average electric car is driven 50 km per day.
•Charging Range: Assume an average charging range of 300 km per full
charge.
•Charging Frequency: 50 km/day / 300 km/charge = 0.167 charges per day
(roughly once every 6 days).
•Charging Duration: Assume an average fast-charging time of 1 hour.

C. Charging Station to EV Ratio:

•Optimal Ratio: Assume an ideal ratio of 1 charging station per 20 electric cars
to avoid long wait times.

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GUESSTIMATES

Guesstimate – 5 (Contd.)
D. Required Charging Stations:
•Total Stations Needed: (Projected Electric Cars in 2030) / 20

Step 4: Sense Check:

•EV Adoption: 20% annual growth is ambitious but possible with government
incentives and increasing awareness.
•Charging Frequency: Charging every 6 days aligns with typical usage patterns
for electric cars.
•Station Ratio: 1 station per 20 EVs is a reasonable estimate for ensuring
convenient access to charging.

Solved Examples

•1. Estimate Pixel Phone Storage Cost

•2. Estimate the number of Uber Drivers in San Francisco
•3. Estimate the size of paint market

PM Compendium - bITeSys 43
ROOT CAUSE ANALYSIS

RCA or Root-cause analysis basically deals with finding the cause of some sort
of problem within the product. Root causes test you around fundamental problem-
solving, structuring, and narrowing skills.
Examples of such questions can be -

•"Order cancellation on Nykaa is up by 20%. What do you think is

happening?"
•"The number of daily transactions on Paytm has decreased by 50%
compared to the previous stable value"

You have to maintain a delicate balance between asking questions and inferring
things from the information provided, and at the same time, your approach should
always converge. Call this a “Judgmental Round” Where you will be judged on
everything you ask, say, or infer.

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ROOT CAUSE ANALYSIS

Practice Question - 1
Question : You are the PM for a popular language learning app. You notice a
sudden 50% drop in daily active users (DAU) over the past week. How would
you investigate the root cause?

Step 1: Clarify the Issue

•Clarifying Questions:
•Is the decline consistent across all product categories or concentrated in
specific areas?
•Are there any noticeable demographic or geographic trends in the decline?
•Have there been any changes in customer acquisition or retention rates
during this period?
Problem Statement: The e-commerce platform has experienced a 20%
decrease in AOV across all product categories and demographics over the past
quarter.

Step 2: User Journey Mapping

•User visits the website/app

•User browses product categories
•User adds items to cart
•User proceeds to checkout
•User completes payment and places order

Step 3: Investigate Potential Causes

Internal Factors:

•Pricing/Promotions:
•Have there been changes to pricing strategies or promotional offers that could
be discouraging larger purchases?
•Are competitors offering more attractive discounts or deals?
•Product Assortment:
•Has there been a shift in the types of products offered on the platform?
•Are higher-priced items less visible or accessible to users?
•Shipping/Delivery:
•Have there been any changes to shipping costs or delivery times?
•Are customers facing issues with delivery delays or cancellations?

External Factors:

•Economic Conditions:
•Has there been a downturn in the economy, affecting consumer spending
power?
•Are customers more price-sensitive or looking for deals?
•Seasonal Variations:
•Is the decline in AOV typical for this time of year?
•Are there any holidays or events that could be influencing purchasing
behavior?
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ROOT CAUSE ANALYSIS

Practice Question – 1 (Contd.)

Step 4: Narrow Down and Validate
•Data Analysis: Analyze user data to identify patterns (e.g., drop-off points in the
user journey, specific lessons with decreased engagement).
•User Feedback: Gather feedback from users through surveys, social media, or
app store reviews.
•Technical Review: Check server logs and error reports for any technical
glitches.

Step 5: Root Cause Identification

•Hypothesize: Based on the investigation, form a hypothesis about the most
likely root cause (e.g., a technical bug, a new competitor's promotion, a change
in course content).
•Validate: Design experiments or gather additional data to validate the
hypothesis.
•Implement Solutions: Once the root cause is identified, develop and implement
solutions to address the issue.

Example Root Cause:

The drop in DAU was primarily caused by a recent app update that introduced a
bug causing the app to crash frequently on certain devices.

Note: There are multiple approaches to RCA, and the goal is to demonstrate a
systematic and logical thought process. This example highlights the importance of
considering both internal and external factors, using data and user feedback, and
validating hypotheses before drawing conclusions.

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ROOT CAUSE ANALYSIS

Practice Question - 2
Question :A leading e-commerce platform has observed a 20% decline in the
average order value (AOV) over the past quarter. Identify the root cause and
propose solutions.

Step 1: Clarify the Issue

•Clarifying Questions:
•Is this drop affecting all users, or specific demographics (e.g., language
learners, age groups)?
•Is the drop consistent across all platforms (iOS, Android, web)?
•Has there been a similar drop in other key metrics (e.g., time spent in app,
subscription renewals)?
Problem Statement: The language learning app has experienced a 50%
decrease in DAU across all platforms over the past week, affecting all user
demographics.

Step 2: User Journey Mapping

•User downloads the app

•User creates an account or logs in
•User selects a language course
•User engages with lessons and activities
•User tracks progress and receives feedback

Step 3: Investigate Potential Causes

Internal Factors:

•Technical Issues:
•Were there any server outages or bugs in the app recently?
•Was a new update or feature released that could be causing problems?
•Content Changes:
•Were there any changes to the course structure, content, or difficulty level?
•Was any content removed that users were highly engaged with?
•Pricing Changes:
•Were there any recent changes to the app's pricing or subscription model?

External Factors:

•Competitor Activity:
•Did a new competitor launch or offer a significant promotion?
•Did a competitor app release a major update or new feature?
•Seasonal Factors:
•Is there any seasonality in language learning that could explain the drop?
•Were there any holidays or events that could have impacted user engagement?
•External Events:
•Were there any news events or global trends that could have influenced user
behavior?

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ROOT CAUSE ANALYSIS

Practice Question – 2 (Contd.)

Step 4: Narrow Down and Validate
•Data Analysis: Analyze order data to identify trends (e.g., changes in cart
abandonment rates, popular product categories with declining AOV).
•User Feedback: Gather customer feedback through surveys, customer support
interactions, or social media.
•Competitor Analysis: Compare pricing, promotions, and product offerings of
competitors.

Step 5: Root Cause Identification

•Hypothesize: Based on the investigation, form a hypothesis about the most
likely root cause (e.g., increased price sensitivity due to economic factors, less
attractive promotions compared to competitors).
•Validate: Gather additional data or conduct experiments to validate the
hypothesis.
•Propose Solutions:
•If price sensitivity is the issue, consider offering more targeted discounts or
creating bundled deals.
•If promotions are less attractive, redesign promotions to be more appealing and
highlight value.
•If product assortment is a factor, curate collections of higher-priced items or
improve their visibility on the platform.

Example Root Cause:

The decline in AOV is primarily due to increased price sensitivity among
customers as a result of a recent economic downturn. Customers are actively
seeking discounts and deals before making purchases.

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ROOT CAUSE ANALYSIS

Practice Question - 3
Question : A subscription-based productivity software company is experiencing
a significant decline in customer lifetime value (CLTV). Identify potential root
causes and propose strategies to reverse this trend.

Step 1: Clarify the Issue

•Clarifying Questions:
•How significant is the decline in CLTV (percentage-wise or absolute terms)?
•Is the decline affecting specific customer segments (e.g., industry, company
size, subscription tier)?
•Has there been a change in customer acquisition costs (CAC) or churn rate?
Problem Statement: The productivity software company has observed a
substantial decrease in CLTV across various customer segments, with no
significant changes in CAC or churn rate.

Step 2: Understand CLTV Components

CLTV is a complex metric influenced by several factors:

•Average Revenue per User (ARPU): The average revenue generated per user
per month.
•Gross Margin: The percentage of revenue retained after deducting direct
costs.
•Churn Rate: The percentage of customers who cancel their subscriptions each
month.

Step 3: Investigate Potential Causes

Internal Factors:

•Pricing and Packaging:

•Are pricing tiers optimized for different customer segments and their needs?
•Are there opportunities for upselling or cross-selling to increase ARPU?
•Are discounts or promotions being overused, eroding long-term revenue?
•Product Features and Value:
•Are new features being added that resonate with customers and increase
usage?
•Is the product's value proposition clear and differentiated from competitors?
•Are there any technical issues or bugs impacting the user experience?
•Customer Onboarding and Engagement:
•Is the onboarding process effective in helping customers realize the product's
value?
•Are there ongoing engagement strategies to keep users active and satisfied?
•Is customer support responsive and helpful in resolving issues?

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ROOT CAUSE ANALYSIS

Practice Question – 3 (Contd.)

External Factors:

•Competitive Landscape:
•Have new competitors entered the market with more compelling offerings or
pricing?
•Are existing competitors offering innovative features or integrations?
•Market Trends:
•Are there shifts in industry trends or customer needs that are impacting the
perceived value of the product?
•Economic Conditions:
•Are economic factors affecting customers' budgets and willingness to pay for
subscription software?

Step 4: Narrow Down and Validate

•Data Analysis:
•Analyse customer data to identify segments with the most significant CLTV
decline.
•Compare usage patterns and feature adoption between high- and low-CLTV
customers.
•Analyse customer feedback surveys and support tickets for insights.
•Competitor Analysis:
•Conduct a thorough analysis of competitors' pricing, features, and positioning.

Step 5: Root Cause Identification

•Hypothesize:
•Based on the investigation, form hypotheses about the most likely root causes
(e.g., insufficient differentiation from competitors, poor onboarding experience,
lack of high-value features).
•Validate:
•Conduct user research (interviews, surveys) to understand customer needs and
perceptions.
•Experiment with pricing changes, new features, or onboarding flows.
•Propose Solutions:
•If pricing is an issue, consider adjusting pricing tiers or offering value-based
pricing models.
•If product value is unclear, develop a stronger value proposition and
communicate it effectively.
•If onboarding is weak, redesign the onboarding experience to highlight key
benefits and features.
•If engagement is low, implement targeted communication strategies and
personalized recommendations.
•If competition is a factor, consider new feature development or partnerships to
differentiate the product.

Example Root Cause:

The decline in CLTV is primarily due to a combination of insufficiently
differentiated features and a subpar onboarding experience, leading to lower
engagement and higher churn in the early stages of the customer lifecycle.

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PRODUCT SENSE

Metrics Cases
1) If you were the product manager for LinkedIn’s Job posting
feature, what key performance indicators would you focus on?

Using the 3 Step framework

Objective : To enable access to user's personalized content
L3 : Metrics |
UX perspective of feature

No: of job seekers

applying (to evaluate L2 : Metrics |
sufficient network effects Business perspective of feature
created)
Impressions per Job
Time taken to submit an application
application (ease of use)
NORTHSTAR
No: of applications
Job application-criteria Job fulfillment rate =
match similarity No: of Job fulfillments/job
organizations using applications
this feature
Frequency of feature Time taken for Job
usage fulfilment

2) How would you measure the success of Google Maps' route

planning feature?
Objective : To enable users navigate detailed routes
L3 : Metrics |
UX perspective of feature

Time taken per user to set

route L2 : Metrics |
Business perspective of feature
Avg distance for a set route
per user
Time duration of route per Churn Rate post
user feature deployment
Route completion rate NORTHSTAR
Increase in user
No of re-routes per set acquisitions No. of routes planned
route (DAU/MAU)
change post feature
Interactions/modifications deployment
to the set route

Route completion rate

correlation with no of re-
routes

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PRODUCT SENSE

Metrics Cases
1) As the PM for Google Search, what metrics would you use to
determine its effectiveness ?

Objective : To enable users to search and find relevant information they require
L3 : Metrics |
UX perspective of feature

Session Length
L2 : Metrics |
Activity/Clicks per session Business perspective of feature

Interactions of search results % Increase in

(bookmarked/shared/opened Adoption/Chum
in a new tab) Rate **
NORTHSTAR
Prompts per session Impressions/Click
(searches categorized as through rate No: of Searches
same topic)
Stickiness ratio
(DAU/MAU)

**
* Adoption is considered when the user selects the search engine as the default
* Churn is considered as vice-versa to Adoption

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PRODUCT SENSE

App Teardowns

YouTube

Value proposition : YouTube aims to provide curated and search driven video
content for users to stay entertained and informed.

User Journey :

Engagement
App download
Trending with video
from App Sign in with a
content (View,Like,
Store/Play gmail account
suggestions Share,Subscribe
Store
,Save)

User Segmentation / User Persona :

Content Seekers – Content Creator ---

Search/Explorer, Music Listener, Freelance Creator,
Learner Business/Monetization Creator

• Users who use Youtube similar • Creators who publish content

to a search engine and like to both for free and monetization
explore the maximum range of purposes
content
• Users who consume
academic/education content
consistently for learning
objectives
• Users who engage and interact
with music/songs available
through Youtube

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PRODUCT SENSE

App Teardowns

YouTube
User Persona – Feature Mapping :
Explorer Explorer Learner Learner Music Music Listener
Needs Features Needs Features Listener Features
Obtain Search by input Save and Private Recommen Music
relevant (text,voice) and collate a set of playlists, dations, recommendations
search filter results based videos Youtube's curations include My Mix
results on learning and playlists
duration,recency, module
features etc:
Track Search history Highlight AI based Share on Share to other
previous below search bar learning Key other apps with
search takeaways in a Concept apps/platfo thumbnail and
results video Feature in rms picture in picture
videos video playback
Streamline Subscription References Transcripts Autogenera Youtube
content feature from within videos and ted content generated
explored channels and timestamps channels for
content creators part of the music related
video artists/topics for
relevant user
suggestions
Categorise Category labels Summarise Yearly Wrap
content to and Explore preferences feature provides
explore section a summary of
favourite
artists/genres and
listening habits

Content Creator Content Creator Features

Needs
Source and enhance Clip,Remix,Create features to use existing videos and add library sounds
content to create content seamlessly

Data on content Channel dashboard and analytics

outreach

Support for channel Super Thanks feature for direct monetary support to channel from viewers
from viewers

Channel engagement Channel memberships provide deeper connect with subscribers

PM Compendium - bITeSys 54
PRODUCT SENSE

App Teardowns

YouTube
User Persona – Feature Mapping : Explorer
1 2 3 4
Obtain relevant Track previous Streamline content Categorise content to
search results search results explored explore

(1) Filter results based on

duration,recency, features etc:

(3) Subscription feature from

channels and content creators

(2) Search by input (text,voice)

history below search bar

(4) Category labels and

Explore section

PM Compendium - bITeSys 55
PRODUCT SENSE

App Teardowns

YouTube
User Persona – Feature Mapping : Learner
1 2 3
Save and collate a set of Highlight learning takeaways in a References within
videos video videos

(3) Transcripts
and timestamps
part of the video

(2) AI based Key Concept

(1) Private playlists, Feature in videos
YouTube’s learning
module

PM Compendium - bITeSys 56
PRODUCT SENSE

App Teardowns

YouTube
User Persona – Feature Mapping : Music Listener
1 2 3
Recommendations, Summarize
Share on other apps/platforms
curations preferences

(2) Share to other apps and

quick share to nearby devices

(1) Music recommendations include

My Mix and suggested playlists

(3) Yearly Wrap/Recap feature provides a

summary of favourite artists/genres and listening
habits

PM Compendium - bITeSys 57
PRODUCT SENSE

App Teardowns

YouTube
User Persona – Feature Mapping : Content Creator
1 2 3 4
Source and enhance Support for channel Channel
Data on content outreach
content from viewers Engagement

(3) Super Thanks feature for direct

monetary support from viewers

(1) Create, Remix and Clip

features to use existing videos
and add library sounds to
create content seamlessly

(2) Channel dashboard and analytics

(4) Channel
memberships
provide deeper
connect with
subscribers

PM Compendium - bITeSys 58
PRODUCT SENSE

App Teardowns

YouTube
Metrics
L3 : Metrics |
UX perspective

Avg Session Length per

user L2 : Metrics |
Video completion rate per Business perspective
user
Stickiness ratio
Searches per user (DAU/MAU)
NORTHSTAR
Video Interaction Rate Impressions/Click
through rate Watch Time Per Day

Activity per session per Churn Rate,

user Premium Renewals
No: of Activations

Content uploaded
daily/weekly

PM Compendium - bITeSys 59
PRODUCT SENSE

App Teardowns

Amazon

Value proposition : Amazon aims to provide an A to Z range of products at your

doorstep through a seamless online shopping experience

User Journey :

Download
from App Setup of Update Buy and
Search Add to Track
amazon delivery make
/Play product Cart delivery
account address Payment
Store

User Segmentation / User Persona :

Specific/Passive Explorer/Shopping
Sellers :
Users : Users :

• Users who have • Users who wish to • Users who require

decided on the explore the variety sale of their
product they of products and products to buyers
require and wish to decide to purchase through amazon
purchase it on based on available
Amazon options

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PRODUCT SENSE

App Teardowns

Amazon
User Persona – Feature Mapping :
Specific/ Specific/Passive Explorer/ Explorer/ Seller Seller
Passive User Features Shopping Shopping User Needs Features
User User Needs Features
Needs
Find/ Multimodal search Product Recommendation Product Sellers can
Obtain a (text,voice,image, suggestions system Listing list their
relevant Alexa) and organize suggestions products
product results in the page based on with amazon
search/purchase along with
history and category
customer labels,
clustering product
[Customers also details
bought this (images,
product] description
etc:)
Validate Product page contains Filter and Extensive Product Amazon
the product a scroll view to comparisons options on filter outreach Seller
required navigate each product (Brand,Size,Price provides
section ,Delivery,Rating analytics,
(Price,Quantity, etc) pricing,
Questions,Reviews) marketing
campaign
support
through
sponsored
products
Ease in Suggestions provided Shortlist/ Add to Customer Amazon
repeating from Account Save options customized fulfilment Seller
orders section's order history wishlists and includes
carts FBA feature
to support
the shipping
requirement
for products
from seller
to buyer

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PRODUCT SENSE

App Teardowns

Amazon
User Persona – Feature Mapping : Passive User

1 2 3
Find/Obtain a relevant
Validate the product required Ease in repeating orders
product

(2) Product page contains a scroll view

(1) Multimodal search to navigate each product section
(text,voice,image,Alexa) and (Price,Quantity,Questions,Reviews)
organize results in page

(3) Suggestions
provided from user’s
order history

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PRODUCT SENSE

App Teardowns

Amazon
User Persona – Feature Mapping : Shopping User

1 2 3
Product suggestions Filter and comparisons Shortlist/Save options

(1) Recommendation system suggestions (2) Extensive options on Filter

based on search/purchase history, product (Brand,Size, Price, Delivery,
categories, and customer clustering Rating etc)
[Customers also bought this product]

(3) Add to customized

wishlists and carts

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PRODUCT SENSE

App Teardowns

Amazon
User Persona – Feature Mapping : Seller

1 2 3
Product Listing Product Outreach Customer fulfilment

(3) Amazon Seller includes FBA (Fulfillment

by Amazon) feature to support shipping
requirements for products from seller to buyer

(1) A seller account for amazon provides

sellers to list their products with amazon
along with relevant listing, category Amazon
labels,product details (images,description Sponsored
etc:) Products

(2) Amazon Seller provides analytics,pricing, marketing campaign support through

sponsored products

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PRODUCT SENSE

App Teardowns

Amazon
Metrics
L3 : Metrics |
UX perspective

Avg Time taken to place

an order per user L2 : Metrics |
Business perspective
Avg Session Length
No: of Orders fulfilled
per user
Activity per session NORTHSTAR
Average Revenue per
User (ARPU)
Orders Completed
Churn Rate, Prime
Cart Fulfillment Duration Renewals
No: of
Cancellations/Returns
Cart Abandonment
Rate

Order Fulfillment rate

PM Compendium - bITeSys 65
PRODUCT SENSE

App Teardowns

Instagram

Value proposition : Instagram enables users to connect with a global community

and explore a wide variety of content.

User Journey :

Interact
Download Account Follow
Explore /Post content
from App creation/ contacts/
content to share with
/Play Store setup suggestions
social groups

User Segmentation / User Persona :

Scroller : Socialite : Influencer :

• User who majorly • User who wants • User who drives a

scrolls through high interaction business from
Instagram’s with peers and promoting brands
recommended feed network and stay and products
for engagement updates on their leveraging
activities and Instagram’s
interests network
capabilities

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PRODUCT SENSE

App Teardowns

Instagram
User Persona – Feature Mapping :

Scroller Scroller Socialite Socialite Influencer Influencer

Needs Features Needs Features Needs Features
Access to Follow Network Follow/Follow Monetization Influencers can
content pages/people and with a back based on leverage in-app
based on search for content community searches/ product
likes and based on of people suggestions. tagging and
interests topic,accounts, A dedicated affiliate links
hashtags. Meta's follow section is to earn
AI Llama search maintained to ease commissions
engine used for this requirement on purchases
retrieving their followers
results. make through
Instagram
Shopping
Filter and Filter Stay updated Stories feature -- Brand Instagram
switch recommendation on what your Interact with Partnership Collabs/Brand
based on feed based on network is stories, tag Collabs
required favorites/ up to people/places/time features allow
content following pages , repost stories, users to
enhance stories collaborate
with media with brand
(stickers/songs) pages on a
regular post or
an Instagram
Reel. The post
will appear on
the brand’s
feed as well as
the creator’s
feed.
Continuo Recommendation Engage with Chat/Call/Groups/ Follower Instagram
us flow systems based on your social Rooms features to outreach and Analytics track
of content topics of network/ engage and engagement impressions,
to scroll interest,people community connect with follower
followed,content network growth,
type engagement
(stories,posts/ rate for
reels) insights on
content impact.
Rooms,Live,
Polls increase
interaction
with Influencer
content

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PRODUCT SENSE

App Teardowns

Instagram
User Persona – Feature Mapping : Scroller
1 2 3
Access to content based on likes Filter and switch based for Continuous flow of
and interests required content content to scroll

(2) Filter recommendation feed based on

favorites/following pages

(1) Follow pages/people and search for

content based on topic,accounts,hashtags.
Meta's AI Llama search engine used for
retrieving results.

Grid of photos and videos Scrollable feed of posts Scrollable feed of reels

(3) Recommendation systems based on topics of

interest,people followed,content type (stories,posts,reels)

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PRODUCT SENSE

App Teardowns

Instagram
User Persona – Feature Mapping : Socialite
1 2 3
Engage with your
Network with a community of Stay updated on what your
social
people network is up to
network/community

(1) Follow/Follow back based on (2) Stories feature -- Interact with stories,
searches/suggestions. A dedicated follow tag people/places/time, repost stories,
section is maintained to ease out this enhance stories with media
requirement (stickers/songs)

(3)
Chat/Call/Groups/
Rooms features to
engage and connect
with network

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PRODUCT SENSE

App Teardowns

Instagram
User Persona – Feature Mapping : Influencer
1 2 3

Follower outreach and

Monetization Brand Partnership
engagement

(2) Instagram Collabs/Brand (3) Instagram Analytics

Collabs features allow users track post
to collaborate with brand impressions,follower
pages on a regular post or growth,engagement rate
(1) Influencers can leverage in- an Instagram Reel. The post
app product tagging and affiliate for insights on content
will appear on the brand’s impact.
links to earn commissions on feed as well as the creator’s
purchases their followers make Features like
feed. Rooms,Live,Polls/Add
through Instagram Shopping yours increase
interaction with
Influencer content

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PRODUCT SENSE

App Teardowns

Instagram
Metrics
L3 : Metrics |
UX perspective

Daily Content Shared

L2 : Metrics |
Business perspective
Avg Session Length
Stickiness ratio
Activity per session (DAU/MAU)
NORTHSTAR
Content Interaction Rate Impressions/Click
(Like/Share/Comment Through Rate Daily Time Spent
with posts/stories/reels)
Churn Rate

Influencer
Collaborations

Non-Ad Revenue
(Instagram
Shopping,Commissions)

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PRODUCT SENSE

Product Improvement
Microsoft Teams
Value proposition : Microsoft Teams enables users to collaborate together in one
place for seamless communication and shared productivity.

User Journey :

Sign-in to Connect,
Download from Teams (using Collaborate Attend/Setup
Microsoft store work or school with meetings
account) organization

User Segmentation / User Persona :

Casual Collaborator Busy Meeting Hopper Meeting Presenter/Host Needs

Needs Needs

Totally new to using tools Calendar Planning Manage and monitor participants access,
like teams interaction

Minimum hassle in Quick meeting Present/share content, exchange info in-

attending meetings connects/calls meeting

Occasional use of teams Strong interaction with Enable discussions/breakout rooms and
meeting attendees monitor attendance

Seamless file sharing

collaboration

Target Persona : Busy Meeting Hopper

Busy Meeting Hopper Busy Meeting Hopper Features : (Current)
Needs

Calendar Planning Organize calendar based on Day/Week for suitable view

Quick meeting Directly call and add user to meetings

connects/calls

Strong interaction with Change participants view, Polls, whiteboards,Picture-in-Picture view of

meeting attendees control menu during meeting presentation mode

Seamless file sharing Attach files,track files shared, share files from drive
collaboration

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PRODUCT SENSE

Product Improvement
Microsoft Teams

Enhancement features for Busy Meeting Hopper :

Voice Calendar • Use voice commands in Teams to easily

Management: manage your daily schedule hands-free.

Simplified Meeting • Create quick links right in Teams to send out

Invites: meeting invitations to guests with ease.

• Save time and effort by using Teams' AI to

AI-Powered Meeting
automatically create meeting summaries
Minutes:
from transcripts.

• During meetings, assign tasks to participants

Actionable Meetings: directly, monitor their progress, and get
updates within Teams.

Enhancement Feature prioritization :

•High effort score means less time is required to implement (1-5)
•High-confidence score means low cost is required to build the feature (1-5)
•High impact score means the feature has a high impact (1-5)
•High reach score means the feature has a high reach (1-5)

Busy Meeting Reach Impact Confidence Effort Score Rank

Hopper Features :
(Enhanced)
Adjust and walkthrough 4 5 3 3 15 3
daily calendar using
voice assisted input
Get quick links to share 4 4 5 5 18 1
meetings to attendees
Generate minutes of 5 5 2 2 14 4
meeting from transcripts

Assign /Monitor/Update 4 5 4 4 17 2
tasks to attendees in
meeting

From the prioritization, Get quick links to share meetings to attendees feature is
highest priority followed by Assign /Monitor/Update tasks to attendees in
meeting

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PRODUCT SENSE

Product Improvement
Microsoft Teams

Metrics
L3 : Metrics |
UX perspective of features

Change in Avg Session

Length L2 : Metrics |
Business perspective of features
Time taken to complete
feature usage Change in (DAU/MAU)

Frequency of feature Feature(s) Adoption NORTHSTAR

usage Rate
Activity per Session
Change in user activity
post feature deployment

Users activated post

feature deployment

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PRODUCT SENSE

New Product Development

Objective : Design a note taking app for Product Managers
Framework used : CIRCLES
C : Comprehend the situation : To provide users with a quick reference of
pointers for meetings/tasks/objectives

I : Identify the customer

A Product Manager would require to hop across meetings with different functions
like engineering, design and sales. A note taking app would increase productivity
by providing quick reference of all key pointers of discussion for the Product
Manager

R : Report the customer Needs :

User Needs : Features Required

Categorical note classification Labeling of notes, tag notes for meetings

Track changes/revisions/progress Version history with checkboxes for progress update

Share notes to other users Share notes as a file/link

Aid for meetings Tag/Map notes to calendar for quick reference

Flexibility in access Re-arrange in view

Planner Summarize notes on upcoming meetings to prepare an agenda

C : Cut through prioritization (RICE Table) :

•High effort score means less time is required to implement (1-5)

•High-confidence score means low cost is required to build the feature (1-5)
•High impact score means the feature has a high impact (1-5)
•High reach score means the feature has a high reach (1-5)
Feature Reach Impact Confidence Effort Score Rank

Note Labelling 5 5 5 5 20 1

Version and progress history 4 4 5 5 18 3

Share notes as a file/link 5 4 5 5 19 2

Tag/Map notes to calendar 5 5 3 4 17 4

for quick reference

Re-arrange in view 5 5 5 5 20 1

Summarize notes 5 5 3 3 16 5

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PRODUCT SENSE

New Product Development

L : List solutions
Based on the features listed and prioritization of features, and MVP would
contain the following features :
Note Labeling, Re-arrange in view ,Share notes as a file/link, Version and
progress history

E : Evaluate Trade-offs
We can observe that features that involve linking notes with calendar have high
reach and impact however require higher cost (lower confidence rating) and
higher time to develop (lower effort rating) and hence are not part of the MVP

S : Summarize recommendation
Based on the above solutions, the note taking app would have a user journey as
below : User Journey :

Browse
View Summary/ Clicks on a
Sign in notes by
calendar Agenda note –
category

Make changes
Shares note
Uses notes in meetings
Note taking during meeting
Re-arrange/categorize/tag

Metrics
L3 : Metrics |
UX perspective of feature

Avg Session Length per

user L2 : Metrics |
Business perspective of feature
Daily time spend per user
Stickiness ratio
(DAU/MAU)
Frequency of usage User Adoption Rate NORTHSTAR

Churn Rate Daily Notes Taken

(in characters)

Adoption Duration

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PRODUCT SENSE

Go To Market Strategy (GTM)

Case : You have been onboarded as a Product Manager for Y.com, a product
similar to X (formerly twitter).
As a strategic decision maker, propose a GTM Strategy for Y.com

A Go-To-Market Strategy involves ideating the roadmap for launching a new

product.

The approach below can be considered for a GTM strategy for Y.com
Market Research/Competitive Landscape

• There are 5.04 billion social media users around the world in January 2024,
equating to 62.3 percent of the total global population.
• YoY growth 266 million new users, 5.6 percent, at an average rate of 8.4
new users every single second.
• A typical social media user actively spends an average of 2 hours and 23
minutes per day using social media.
• Meta and X.com control more than 50% of the social media market share
Pre-Launch

Customer segmentation : Potential user segments for Y.com can be :

Inorganic/New users: New to social media platforms, looking to explore
and connect with others online. Appreciates user-friendly interfaces, clear
instructions, and a supportive community.
Organizations: Responsible for managing the organization's online
presence and brand awareness.
Selective users: Sticks to only 1 specific platform being hesitant to join
another platform.

Promotional strategies :
Organizations: Y.com can target 3 top geographic markets. Mega-scale
events in these geographies can be sponsored to increase hype and buzz
around the product
Inorganic/New users: Partnership with phone manufacturers to have
Y.com pre-installed will increase the exposure of such platforms to
Inorganic/New users.
Selective users: Y.com needs to be more sensitive and responsive to
customer pain points and review post the MVP Launch

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PRODUCT SENSE

Go To Market Strategy (GTM)

Launch
•Craft an ideal MVP prioritizing essential features
•High effort score means less time is required to implement (1-5)
•High-confidence score means low cost is required to build the feature
(1-5)
•High impact score means the feature has a high impact (1-5)
•High reach score means the feature has a high reach (1-5)
Feature Reach Impact Confidence Effort Score Rank

Algorithms. 5 5 2 2 14 5
Recommendations
Social Network 5 5 5 5 20 1
Reach/Connections
Content categorization 5 5 4 4 18 3
(hashtags/topics/media
type)

Explore/Search 5 5 5 4 19 2
functionality
Gamification 5 5 3 3 16 4

Customizable Feed 5 5 4 4 18 3
(Recommendations/
Following pages)

Priority Features for a MVP thus include – (Social Network Reach/Connections,

Search/Explore functionality, Customizable feed and Content categorization)

Post-Launch :

•Monitor AARRR pirate metrics to track overall user adoption, engagement and
retention
•Scale the product iteratively with feature updates post MVP

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INTERVIEW QUESTIONS

1.Tell me what you understand about product management?

•Tip: Explain the role in terms of responsibilities and the impact it has on the
business
•Sample Answer: "Product management involves overseeing the development,
improvement, and delivery of products through collaboration with engineering,
design and sales teams. It requires understanding customer needs, setting the
product vision, and continuously iterating based on feedback. A product
manager ensures the product aligns with the company’s goals and delivers value
to the customers."

2.Describe a day in the life of a product manager. What do they do? What
challenges do they face?
•Tip: Highlight the variety of tasks and the need for cross-functional
collaboration.
•Sample Answer: "A typical day for a product manager starts with a team stand-
up meeting to discuss progress and roadblocks. This is followed by analyzing
market trends, customer feedback, and performance metrics. They spend time
working with the design and engineering teams on new features, attending
strategy meetings, and prioritizing the product backlog. Challenges include
balancing stakeholder demands, managing timelines, and ensuring the product
meets market needs."

3.Name your favorite product? Why is it your favorite product?

•Tip: Choose a product you are familiar with and explain its value proposition
and features.
•Sample Answer: "My favorite product is Trello. I love it because it's simple yet
powerful for project management. Its intuitive drag-and-drop interface and
visual task boards make organizing tasks easy. The ability to create custom
workflows with labels, due dates, and checklists enhances productivity and team
collaboration."

4.Who are the various competitors of your favorite product?

•Tip: Show awareness of the competitive landscape and differentiate the
products.
•Sample Answer: "Trello’s main competitors are Asana, Monday.com, and Jira.
Each has unique strengths: Asana is known for its robust project tracking
features, Monday.com offers extensive customization options, and Jira is
favored for its agile project management capabilities. Trello stands out with its
user-friendly interface and ease of use."

5.What makes your favorite product better than its competitors?

•Tip: Highlight the unique selling points and user experience.
•Sample Answer: "Trello excels in its simplicity and ease of use, making it
accessible to users of all technical backgrounds. Its visual task management
system with boards, lists, and cards offers a clear overview of project progress.
Additionally, Trello’s power-ups and integrations with other tools provide
flexibility and enhance productivity."

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INTERVIEW QUESTIONS

6.Why Product Management?

•Tip: Connect your passion and skills with the role's requirements.
•Sample Answer: "I am passionate about solving problems and creating
products that enhance people's lives. My background in [related field] has
equipped me with analytical and strategic thinking skills. Product management
allows me to work at the intersection of business, technology, and user
experience, driving meaningful impact through innovation."

7.What metrics will you use for benchmarking the product?

•Tip: Focus on KPIs that focus on the product lifecycle.
•Sample Answer: "I would use metrics such as user acquisition rate, active user
engagement, customer satisfaction (NPS), feature adoption rate, churn rate, and
revenue growth. These metrics provide insights into the product’s performance
and areas for improvement."

8.How will you prioritize the features?

•Tip: Explain a framework or method for prioritization.
•Sample Answer: "I use the MoSCoW prioritization framework, categorizing
features into Must-have, Should-have, Could-have, and Won’t-have. I also
consider factors like customer impact, alignment with business goals, and
development effort. Regular feedback from users and stakeholders helps refine
the priorities. The RICE model is also a quantitative way to prioritize features
based on Reach Impact Confidence and Effort"

9.How would you handle a major security issue found in a product release?
•Tip: Show your ability to remain calm under pressure, prioritize tasks, and take
immediate action to mitigate the issue.
•Sample Answer: "First, I would assess the severity of the security issue and
gather all relevant information. Then, I would inform the stakeholders and
assemble a crisis management team. Our priority would be to contain the issue,
release a patch or update, and communicate transparently with our users about
the steps being taken to resolve the problem and prevent future occurrences."

10.Case: Develop an application for lawyers like Practo.

•Tip: Think through the features, user personas, and value propositions. (Use
CIRCLES framework)
•Sample Answer: "The application would offer features such as online
consultations, appointment scheduling, document sharing, and legal advice
forums. Metrics for success would include user acquisition rates, user
engagement levels, and customer satisfaction scores. We would prioritize
features based on user feedback and business impact.“

11.What metrics would you use to measure the success of the application?
•Tip: Mention relevant metrics that align with business goals.
•Sample Answer: "Key metrics would include user growth rate, retention rate,
average session duration, net promoter score (NPS), and revenue from premium
features. These metrics would provide insights into user satisfaction,
engagement, and the financial viability of the application."

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INTERVIEW QUESTIONS

12.Case: Improve the hybrid work environment, especially for remote

workers.
•Tip: Focus on collaboration tools and user experience improvements.
•Sample Answer: "To improve the hybrid work environment, we could enhance
Microsoft Teams by integrating features like virtual break rooms, AI-driven task
management, and improved video conferencing tools. Additionally, providing
comprehensive training on remote work best practices and fostering a culture of
inclusion would be essential."

13.Case: Company is launching a new payment method, outline the go-to-

market strategy.
•Tip: Provide a comprehensive strategy covering all aspects of the launch.
•Sample Answer: "The go-to-market strategy would include a market analysis
to identify target segments, a marketing plan to build awareness, partnerships
with key merchants, and a phased rollout to test and refine the payment method.
Metrics to track success would include user adoption rates, transaction volumes,
and customer feedback."

14.Suppose we are a company whose sales have been decreasing

continuously. The company has been doing great for the last 10 years but
suddenly things have gone south. Try and deduce the reason and suggest
measures.
•Tip: Use a structured approach to diagnose the problem and propose solutions.
•Sample Answer: "First, I would analyze market trends to identify external
factors affecting sales. Next, I would review internal data such as customer
feedback, sales reports, and marketing strategies. Potential issues could include
increased competition, outdated product features, or ineffective marketing.
Solutions might involve enhancing product features, launching targeted
marketing campaigns, or exploring new market segments."

15.How would you track and avoid the various fake IDs that are there on
Facebook App?
•Tip: Suggest practical measures and tools.
•Sample Answer: "I would implement a combination of AI-driven fraud
detection systems and manual verification processes. Machine learning
algorithms can flag suspicious activities, while a dedicated team can review and
verify questionable accounts. Regular audits and user reporting mechanisms
would also help maintain the integrity of the user base."

16.Work on a digital product and apply frameworks.

•Tips:
• Focus on popular frameworks like Lean Startup, Agile, and Design
Thinking.
• Show how these frameworks improve product development.
•Sample Answer: "I would apply the Lean Startup framework to test hypotheses
with a Minimum Viable Product (MVP), Agile methodology for iterative
development and quick feedback cycles, and Design Thinking to ensure user-
centric design. This combination ensures we build the right product efficiently
and effectively."

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INTERVIEW QUESTIONS

17.Can you provide a detailed discussion on agile methodology?

•Tips:
• Emphasize the key principles of Agile: Iterative development, customer
collaboration, and flexibility.
• Mention specific practices like sprints, daily stand-ups, and continuous
improvement.
•Sample Answer: "Agile methodology involves iterative development with
sprints, frequent delivery of product increments, and close collaboration with
customers and cross-functional teams. Daily stand-ups help synchronize efforts,
and sprint retrospectives foster continuous improvement. This approach allows
for rapid adaptation to changes and ensures customer needs are met."

18.Apply PESTEL analysis to a specific product.

•Tips:
• Briefly explain each PESTEL factor.
• Relate each factor to the product contextually.
•Sample Answer: "For a telemedicine platform:
• Political: Ensure compliance with healthcare regulations like HIPAA.
• Economic: Consider the impact of economic stability on healthcare
spending.
• Social: Address demographic changes and growing health awareness.
• Technological: Leverage advancements in AI and mobile technology.
• Environmental: Promote sustainability by reducing the need for physical
travel.
• Legal: Navigate medical liability and protect intellectual property."

19.How Will You Cope Up in Product Management Without a Coding

Background?
•Tips:
• Highlight strong communication and strategic skills.
• Mention learning basic coding concepts.
• Emphasize collaboration using Agile methodologies.
•Sample Answer: "I focus on leveraging my strong communication and
strategic skills to bridge gaps between technical and non-technical teams. I've
completed online courses to understand basic coding concepts, which helps me
work effectively with developers. Using Agile methodologies, I ensure
collaborative efforts lead to successful product outcomes."

20.How can you improve Netflix

•Tips:
• Highlight enhancing the recommendation algorithm.
• Suggest personalized and interactive features.
•Sample Answer: "To improve Netflix, I would focus on enhancing the
recommendation algorithm using advanced machine learning to better predict
user preferences. Additionally, introducing more interactive content and
personalized user experiences, such as curated playlists and social features,
could increase engagement and retention."

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INTERVIEW QUESTIONS

21.You Have Worked on Both Website and App Development, What

Difference Did You Feel in Terms of Implementation and Scaling?
•Tips:
• Mention platform-specific guidelines for apps.
• Highlight differences in deployment and scaling strategies.
•Sample Answer: "Website development typically involves ensuring cross-
browser compatibility and responsive design, whereas app development requires
adherence to platform-specific guidelines (iOS/Android) and managing app
store deployments. Scaling a website is often easier due to cloud services, while
app scaling requires efficient management of updates and handling diverse
device specifications."

22.How did you design Sprints at previous workplace

•Tips:
• Outline the five-day design sprint process.
• Emphasize collaboration and user testing.
•Sample Answer: "At my previous workplace, I organized design sprints by
first gathering a cross-functional team, then defining the problem and goals. We
followed a structured process over five days: mapping the problem, sketching
solutions, deciding on the best approach, prototyping, and testing with real
users. This led to rapid, validated solutions."

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PM GLOSSARY

A list of terms that you must know

1. Acceptance Criteria: Specific conditions or requirements that must be met
for a product feature or user story to be considered complete and accepted by
stakeholders. Used in Agile development during sprint planning and review.
2. Agile: A project management approach emphasizing iterative development,
collaboration, and adaptability. It promotes flexibility and responsiveness to
changing requirements.
3. Agile Product Development: The practice of applying Agile principles and
methodologies to the process of developing and delivering products. It involves
cross-functional collaboration, frequent iterations, and customer feedback.
4. ART(Agile Release Train): Agile development refers to a self-organizing,
cross-functional team that delivers value through the development and release of
a product or feature. ARTs are commonly used in the Scaled Agile Framework
(SAFe).
5. Alpha Testing: The initial software testing phase where a limited group of
users tests the product or feature in a controlled environment. It helps identify
and resolve issues before broader testing.
6. Backlog: A prioritized list of features, user stories, and tasks that must be
developed or addressed. It serves as a central repository for future work.
7. Beta Testing: Testing a product or feature in a real-world environment with a
group of external users. It helps gather feedback, identify bugs, and validate the
product's functionality and usability.
8. Bugs: Issues or defects in a product that hinder its intended functionality or
user experience. Bug tracking and fixing are essential activities in product
development.
9. BI(Business Intelligence): Using data analysis and reporting tools to gain
insights and inform decision-making in business operations, including product
management.
10. Burndown Chart: A visual representation of work remaining versus time in
an Agile project. It helps track progress and predict if the team will complete the
work within the desired timeframe.
11. Churn: The rate at which customers stop using or subscribing to a product
or service. The churn rate is important for assessing customer retention and
product satisfaction.
12. Competitor Analysis: The process of researching and evaluating
competitors' products, strategies, and market positioning. It helps identify
opportunities and threats in the competitive landscape.
13. Concept Review: A stage in product development where the product
concept or idea is evaluated for feasibility, market potential, and alignment with
business goals.
14. Continuous Integration: The practice of frequently merging code changes
from multiple developers into a shared repository. It helps detect integration
issues early and ensures a stable codebase.
15. Continuous Deployment: The automated process of releasing software
updates to production environments as soon as they pass quality assurance tests.
It allows for faster delivery and reduces time-to-market.
16. Customer Experience: A customer's overall impression and satisfaction
throughout their interactions with a product or brand. Customer experience
focuses on delivering positive and meaningful interactions.

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PM GLOSSARY

17. Conversion Rate: The percentage of users who take a desired action, such
as making a purchase or signing up for a service, out of the total number of users
who interacted with a product or feature.
18. DAU(Daily Active Users): The number of unique users who engage with a
product or service within a 24-hour period. DAU is a key metric for measuring
product engagement and usage.
19. Dependency Management: The process of identifying and managing
dependencies between different features, teams, or external factors. It ensures
that work can progress smoothly without unnecessary delays.
20. Design Thinking: An iterative approach to problem-solving that focuses on
understanding user needs, ideating creative solutions, and validating
assumptions through user feedback. It emphasizes empathy and user-centricity.
21. Design Concept: The visual or conceptual representation of a product's
intended design, including its aesthetics, layout, and user interface. Design
concepts are used to communicate and align the product's visual direction.
22. Digital Transformation: The process of integrating digital technologies into
various aspects of a business to improve efficiency, customer experience, and
competitive advantage.
23. Disruption: A significant change or innovation that disrupts existing
markets, business models, or industries. Disruption often creates new
opportunities and challenges for product managers.
24. Divergent Thinking: A creative problem-solving approach that encourages
exploring multiple possibilities, generating ideas, and diverging from traditional
or linear thinking patterns.
25. Ecosystem: The network of interconnected products, services, and platforms
that interact and collaborate to provide value to users. Managing and
understanding the ecosystem is important for product managers.
26. Feature: A distinct functionality or capability of a product that fulfills a
specific user need or requirement. Features contribute to the overall value
proposition of the product.
27. Feature Audit: The evaluation and analysis of existing product features to
assess their usage, effectiveness, and alignment with business goals. It helps
identify opportunities for improvement or removal.
28. Feature Score: A metric or rating used to assess a specific product feature's
importance, priority, or impact. Feature scores aid in prioritization and resource
allocation.
29. FDD: Feature-Driven Development: An Agile software development
framework that focuses on delivering features incrementally based on their value
and priority. It emphasizes iterative development and feature-centric planning.
30. Gantt Chart: A visual representation of a project schedule that shows tasks,
dependencies, and timelines. Gantt charts help with planning, tracking progress,
and managing project timelines.
31. GOOB(Get-Out-Of-The-Building): A mindset and practice of engaging
with users, customers, and stakeholders directly to gather insights, validate
assumptions, and inform product decisions. It emphasizes the importance of
real-world feedback.
32. GTM(Go-To-Market Strategy): The plan and set of activities that outline
how a product or feature will be launched, promoted, and made available to
customers. It includes marketing, sales, and distribution strategies.
33. Incremental Product: A product that is developed and released in stages,
gradually adding new features and improvements over time. It allows for
iterative development and early value delivery.
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PM GLOSSARY

34. Intuitive Design: Designing products and interfaces that are easy to
understand and use without the need for extensive instructions or training.
Intuitive design enhances the user experience.
35. JTBD: Jobs-To-Be-Done: A framework that focuses on understanding
users' or customers' underlying needs, goals, and motivations. It emphasizes the
problem or job a product solves rather than the product itself.
36. Kaizen: A Japanese term meaning "continuous improvement." It refers to
the philosophy of making small, incremental improvements to processes,
products, and workflows over time.
37. Kanban Board: A visual project management tool that uses cards or sticky
notes to represent tasks or work items. It provides a clear overview of work in
progress, bottlenecks, and team capacity.
38. Kano Model: A technique for categorizing and prioritizing product features
based on their impact on customer satisfaction. It classifies features as basic,
performance, or delight and helps determine where to focus efforts.
39. KPIs(Key Performance Indicators): Quantifiable metrics used to measure
and assess the performance and success of a product, team, or business. KPIs
vary depending on specific goals and objectives.
40. Lean Product Development: An approach focusing on minimizing waste,
maximizing value, and efficiently delivering products. It emphasizes continuous
improvement and learning from customer feedback.
41. Lifetime Value: The total value a customer generates throughout their
relationship with a product or company. It helps assess the long-term
profitability and impact of acquiring and retaining customers.
42. MRD: Market Requirements Document: A document that outlines a product
or feature's market needs, user requirements, and business objectives. It serves
as a guide for product development and decision-making.
43. MVP: Minimum Viable Product: A version of a product that includes only
the core features necessary to satisfy early adopters and gather feedback. It
allows for early validation and learning with minimal effort.
44. MRR: Monthly Recurring Revenue: The predictable and recurring revenue
generated by subscription-based or recurring billing products or services. MRR
is a key metric for measuring business performance.
45. NPS: Net Promoter Score: A metric used to measure customer loyalty and
satisfaction by asking customers how likely they are to recommend a product or
service to others. It helps assess customer advocacy.
46. OKRs: Objectives and Key Results: A goal-setting framework that defines
objectives and measurable results to track progress and align teams towards a
common purpose. OKRs aid in prioritization and focus.
47. Product-Led Growth: A business strategy where the product itself drives
user acquisition, conversion, and retention through its inherent value and user
experience. It relies on product quality and customer satisfaction.
48. PRD: Product Requirements Document: A detailed document that outlines
a product's functional and non-functional requirements, features, and
specifications. It serves as a reference for development and stakeholders.
49. Product Roadmap: A visual representation of the product's strategic
direction and future plans. It outlines major milestones, features, and initiatives
to communicate the product's vision and timeline.
50. Prototype: A preliminary version or mock-up of a product or feature that is
used for testing, validation, and feedback. Prototypes help visualize ideas and
gather early user insights.

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PM GLOSSARY

51. QA: Quality Assurance: The process of ensuring that a product or feature
meets specified quality standards. QA involves testing, bug fixing, and verifying
that the product functions as intended.
52. Quantitative Data: Numerical data collected and analyzed for statistical
insights. It includes metrics, measurements, and objective information used for
data-driven decision-making in product management.
53. Qualitative Data: Non-numerical data that provides descriptive insights,
opinions, and subjective information. Qualitative data is often gathered through
interviews, surveys, and user feedback to understand user needs and
preferences.
54. Retention Rate: The percentage of customers or users who continue to use a
product over a given period. The retention rate is an important metric for
assessing product satisfaction and customer loyalty.
55. Risk Assessment: The process of identifying, analyzing, and evaluating
potential risks and their impact on product development or business operations.
It helps in proactive risk mitigation and decision-making.
56. Root Cause Analysis: A systematic approach to identify the underlying
cause of a problem or issue. It involves analyzing contributing factors and
determining the fundamental reason behind a product or process failure.
57. SaaS: Software as a Service: A software delivery model where applications
are hosted and provided over the internet on a subscription basis. SaaS
eliminates the need for users to install and manage software locally.
58. Scrum: An Agile framework for managing complex projects. It emphasizes
iterative development, cross-functional collaboration, and frequent feedback
through short, time-boxed work cycles called sprints.
59. Segmentation: The process of dividing a target market into distinct groups
or segments based on common characteristics, preferences, or needs.
Segmentation helps tailor product strategies and messaging to specific customer
groups.
60. SLA: Service Level Agreement: A contract or agreement that defines the
expected level of service, performance standards, and responsibilities between a
service provider and its customers. SLAs are commonly used in service-oriented
products.
61. SOW: Statement of Work: A document that outlines the project scope,
deliverables, timelines, and responsibilities of all parties involved. SOWs
provide a clear understanding of project expectations and serve as a reference
for project management.
62. Stakeholder: Any individual or group with a vested interest or influence in a
product or project. Stakeholders include customers, users, executives,
developers, marketers, and others who impact or are impacted by the product.
63. Story Mapping: A visual technique used to prioritize and organize product
features or user stories based on their value and relationship to user workflows
or journeys. Story mapping helps with backlog management and product
planning.
64. SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats: A strategic
analysis framework that evaluates the internal strengths and weaknesses of a
product or organization, along with external opportunities and threats in the
market.

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65. TCO: Total Cost of Ownership: A comprehensive assessment of all costs

associated with owning, operating, and maintaining a product or system over its
lifetime. TCO includes upfront expenses, operational costs, and maintenance
expenses.
66. Time-to-Market: The time it takes for a product or feature to be developed,
tested, and launched in the market. Time-to-market is a critical factor in
competitive industries and influences market success.
67. UI: User Interface: The visual and interactive elements of a product or
system through which users interact and perform tasks. UI design focuses on
creating intuitive and aesthetically pleasing interfaces.
68. Usability Testing: A method of evaluating a product's user interface and
overall usability by observing users performing tasks and collecting feedback.
Usability testing helps identify areas for improvement and optimize user
experience.
69. User-Centered Design: An approach that places the needs, goals, and
behaviors of users at the center of the design process. User-centered design aims
to create intuitive and user friendly products through iterative user feedback and
testing.
70. User Persona: A fictional representation of a target user group based on
demographic, behavioral, and psychographic attributes. User personas help
product managers understand and empathize with different user segments.
71. User Research: The process of gathering insights, needs, and preferences of
users through various research methods such as interviews, surveys, and
observation. User research informs product decision-making and validates
assumptions.
72. User Story: A concise description of a product feature or functionality from
the user's perspective. User stories typically follow a specific format and serve
as a communication tool between product managers and development teams.
73. UX: User Experience: The overall experience and satisfaction a user has
while interacting with a product. UX encompasses usability, accessibility,
aesthetics, and emotional aspects to create a positive and meaningful user
experience.
74. Velocity: A measure of the rate at which a team completes work during a
specific period, often measured in story points or tasks. Velocity helps estimate
future work and track team productivity in Agile methodologies.
75. Vision Statement: A concise statement that outlines a product's long-term
goals and aspirations, defining its purpose and direction. Vision statements
provide a shared understanding and guide decision-making.
76. VOC: Voice of the Customer: The process of capturing and analyzing
customer or user feedback, opinions, and preferences. VOC techniques help
understand customer needs and guide product improvements.
77. Waterfall Model: A traditional project management approach where
development progresses sequentially through distinct phases: requirements
gathering, design, development, testing, and deployment. It is known for its
linear and sequential nature.
78. Wireframe: A visual representation or blueprint outlining a product or
feature's structure, layout, and functionality. Wireframes help visualize and
communicate the design and interaction elements.

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79. Workflow: The sequence of steps or actions required to complete a specific

task or process. Understanding workflows helps identify bottlenecks,
inefficiencies, and opportunities for product development and usage
improvement.
80. XaaS: Anything as a Service: A general term that encompasses various
cloud-based services provided over the internet, such as Software as a Service
(SaaS), Platform as a Service (PaaS), or Infrastructure as a Service (IaaS).
81. XR: Extended Reality: An umbrella term that includes virtual reality (VR),
augmented reality (AR), and mixed reality (MR). XR refers to immersive
technologies that blend the physical and digital worlds.
82. Yield Rate: The percentage of products or components that pass quality
control or manufacturing processes without defects or rejections. The yield rate
is important for assessing production efficiency and product quality.
83. Zero-Based Budgeting: A budgeting approach where expenses are justified
and allocated from scratch for each budgeting period. It requires a justification
for every expense rather than using the previous budget as a reference.
84. Zeigarnik Effect: A psychological principle that states people remember
uncompleted or interrupted tasks more than completed ones. Product managers
can leverage this effect to design engaging and habit-forming products.
85. Zombie Feature: A rarely used or obsolete feature that remains in a product
without serving a meaningful purpose. Zombie features may add complexity and
maintenance burden without providing value to users.

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