Product Strategy Questions for Product Management Interviews

Business Frameworks and Case-Studies(Myntra, Google Docs, IND Money and Product-Hunt)


So, we have discussed so far about frequently asked questions and Tech 101 for Product Managers.

But we have not discussed yet the required business framework for various condition such as

  • General Strategy Questions: CXOs level Questions
  • Mergers & Acquisition: Looking at synergies in Mergers & Acquisition
  • Digital Product Campaign: launching an Ad Campaign for the new or existing product
  • Product Launch & Market Entry Cases: Launching a new or existing Product in a new or existing Market
  • Pricing Case: Pricing a Product
  • Profitability Case: increasing revenue or profit and cutting-out the unnecessary cost.

But why they ask these questions to Product Manager who manages a product and mostly work with Designers & Engineers?

Management Consultants draw strategies generally.

But we should not forget that a Product Manager gets included in each of the areas from Ideation to deployment of the product

  • User/Market Research
  • Problem Framing
  • Pretotyping & Design Thinking
  • validating the solution
  • designing and developing
  • Experiment
  • then to launch or deployment

While managing these cross-functional team members and ensuring that product must be customer-centric and should follow the various factors on the basis of the company.

Business Frameworks for Product Managers:

Although! I could include more but following are the basic and essential frameworks for these types of questions:

  1. Customer Purchase Making Decision
  2. Marketing-Mix(4 P’s)
  3. SWOT Analysis
  4. 5 Cs (Situational Analysis)
  5. Porter’s 5 Forces

Now, let’s break down each framework systematically with real-time case studies and a touch of interactivity. 🛠️

#1 Customer Purchase Decision Framework 🤔

  1. Problem Awareness: Understand the customer’s pain point or need.
  2. Interest: Generate curiosity and interest in your product.
  3. Desire: Create a strong desire or want for your product.
  4. Action: Encourage the customer to take a specific action (purchase).

Case Study: Apple’s iPhone

Photo by Alexander Andrews on Unsplash
  1. Problem Awareness: Apple recognized that people needed a device that could combine a phone, an iPod, and a computer seamlessly.
  2. Interest: Through sleek design and captivating advertising, Apple piqued people’s interest in the iPhone.
  3. Desire: They created a desire by showcasing the iPhone’s capabilities and exclusivity.
  4. Action: The Apple Store and online shopping made it easy for customers to take action and purchase.

#2 Marketing-Mix (4 P’s) 🎯

  1. Product: Define the unique qualities of your product.
  2. Price: Determine the pricing strategy that aligns with your target market.
  3. Place: Choose the right distribution channels.
  4. Promotion: Craft marketing campaigns that reach your audience effectively.

Case Study: Coca-Cola

Photo by Taras Chernus on Unsplash
  1. Product: Coca-Cola emphasizes its secret formula and unique taste.
  2. Price: They use competitive pricing, making it affordable to a wide range of consumers.
  3. Place: Coca-Cola is available virtually everywhere, from corner stores to vending machines.
  4. Promotion: Iconic advertising campaigns like “Share a Coke” engage consumers emotionally.

# 3. SWOT Analysis 🤩

  • Strengths: Identify your internal advantages.
  • Weaknesses: Acknowledge your internal vulnerabilities.
  • Opportunities: Explore external avenues for growth.
  • Threats: Be aware of external factors that could hinder success.

Case Study: Amazon

Photo by Sunrise King on Unsplash
  • Strengths: Vast product selection, efficient logistics, and Amazon Web Services.
  • Weaknesses: Overreliances on third-party sellers, counterfeit products.
  • Opportunities: Expansion into new markets, like Amazon Prime Video.
  • Threats: Competition from other e-commerce giants, regulatory challenges.

#4 5 Cs (Situational Analysis) 📊

  1. Company: Understand your organization’s goals and capabilities.
  2. Customers: Analyze your target audience and their needs.
  3. Competitors: Study your rivals and their strategies.
  4. Collaborators: Identify potential partners or allies.
  5. Climate: Assess the external market conditions.

Case Study: Tesla

Photo by Dmitry Novikov on Unsplash
  1. Company: Tesla’s goal is to accelerate the world’s transition to sustainable energy.
  2. Customers: They focus on tech-savvy, environmentally-conscious buyers.
  3. Competitors: Traditional automakers like Ford and new entrants like Rivian.
  4. Collaborators: Partnerships with companies like Panasonic for batteries.
  5. Climate: The shift towards electric vehicles and clean energy policies.

# 5 Porter’s 5 Forces 🌪️

Porter’s 5 forces: Source
  1. Threat of New Entrants: Assess the barriers to entry for competitors.
  2. Bargaining Power of Suppliers: Understand supplier influence on costs.
  3. Bargaining Power of Buyers: Evaluate buyer influence on prices.
  4. Threat of Substitutes: Analyze alternatives to your product.
  5. Rivalry Among Existing Competitors: Examine the intensity of competition.

Case Study: Netflix

Photo by freestocks on Unsplash
  1. Threat of New Entrants: High, with many streaming platforms entering the market.
  2. Bargaining Power of Suppliers: Content producers hold significant power.
  3. Bargaining Power of Buyers: Subscribers have options but are loyal to quality content.
  4. Threat of Substitutes: Cable TV, YouTube, and other forms of entertainment.
  5. Rivalry Among Existing Competitors: Intense competition with Amazon Prime Video, Disney+, etc.

These frameworks, when applied systematically, can help businesses navigate their product management journeys with success, just like the examples we’ve explored. 🚀📊🔍

Types of Questions:

There are 7 categories of Product-Case Questions:

  1. Product Strategy Questions
  2. Product Marketing Questions
  3. Product Launch Questions
  4. Product Pricing Questions
  5. Online Advertisement for PMs
  6. Problem-solving Questions

But in this blog we will discuss only top 4 concepts:

Product Strategy Questions(CXOs level)

Product Marketing Questions

Product Launch Questions

Product Pricing Questions