Decode and Conquer

In the real world, the best way to finalize price is to try different price points. Out of all retailers, Amazon is known to be most aggressive in varying its price over time, finding the optimal balance between price and volume.

Summarize with this three-step approach: Tell the interviewer which product or feature you’d recommend. Recap on what it is and why it’s beneficial to the user and/or company. Explain why you preferred this solution vs. others.

In modern product development, the use case format is a popular way to capture user needs. A user story conveys what the end user wants to do in normal everyday language. It does not describe how the solution works. Here’s the user story template: As a , I want <goal/desire> so that .

Normally, we’d consider business value, customer impact and tech difficulty when prioritizing.

They’re looking for product managers that can see future trends, both in technology and customer behavior.

If there are instances where you’ve racked your brain and can’t come up with a reasonable (estimated) number, a qualitative statement could work too. It could be a quote from a senior executive who thought you executed the smoothest product launch that he’s seen in last five years. It could be a testimonial from a customer who said it was the most

As part of understanding customer needs, you may have to delve into a customer’s work flow with their existing solutions. To find areas of improvement, you’ll have to understand obstacles they are facing and gaps that existing solutions have left open.

Real world prioritization is not that different from the matrix above. That is, it’s based on subjective criteria, weights and grades. Despite some flaws, I feel the matrix is effective. I’d rather have an imperfect process than no process at all. The matrix method forces the decision maker to think and articulate what’s important. Is revenue more

Average revenue per user (ARPU) Average revenue per paying user (ARPPU) Average revenue per daily active user (ARPDAU) Lifetime value (LTV) Conversion rate