
In this lecture, you will learn about the very basics of product management.
The Meaning of Product Management
The responsibilities of a product manager
Why is Production Management needed?
What are the challenges faced in Product Management Product Management is about leveraging technology to solve consumer problems and impact business positively by identifying problems via customers, data, reports, prioritizing problems to be solved using technology, and successful launch and measurement of the product.
Product Management differs from that of a Business Analyst, Program Manager, Coder, Designer, or Marketer.
Product Management requires Industry knowledge, Empathy for customers, People management skills, Product Mindset, etc. It also has many challenges associated with it, which we would learn in detail about in the lecture.
In this lecture, we would learn about the cycle a product manager has to follow in order to accomplish product management over the course of the year.
He starts by creating Backlog, which includes Identifying problem statements, via customers, data, reports, tech improvements, BAU, etc.
The next step is Prioritisation in which the problems identified in the backlog process are now prioritized according to their impact, effort, sustainability, and balance between strategic and tactical methodologies.
The last step is The Product Development Life Cycle via Problem Definition, Solutioning, Use Case, Development, Success Management, and Iteration.
The details of all the heads will be explained in the further lectures.
In this lecture, we will learn about Backlog Creation.
As learned in the previous video, Backlog Creation is identifying problem statements, via customers, data, reports, tech improvements, BAU, etc.
It is important to now understand how it is done. It is concerned with the identification of problems but since all problems cannot be solved at one go, it is necessary to know the Minimum Viable Product and work thenceforth.
Market sizing helps to determine which of the consumer problems should our business solve as to how it would benefit the business. Knowing the current problems from the data would also help us identify futuristic problems from the data which again, gives a bigger picture of the problems.
Market Reports suggest that it is imperative to embrace the change, and these help us to find those areas to work which will give us the edge.
Technological Improvements and making the platform scalable are imperative to cater to the ever-increasing needs of the customers. The video contains a situational example that will help gain a better understanding of Backlog Creation.
In this video, we will learn about the next step of Product Management- Prioritisation.
The matrix in the video shows that Prioritisation is measured on the basis of Impact and Efforts. If the Impact is high and so are the Efforts, the situation is for a Major Project. The impact is low and the effort is high, which is suitable for a Thankless task. When the Impact is high and the Effort is low, it is a Quick Win. When the Impact and Effort both are low, it is used for Fill-Ins.
The Measure Impact Basic Metric is straightforward and easy to implement and understand but fails because of over-optimism and underestimating the effort.
Therefore, it becomes important to find ways to balance it. Such as, not forgetting the low-hanging fruits, having an additional buffer in the effort, measuring impact across all metrics, etc.
In this lecture, we will learn about Product Development Life Cycle. What are the basic steps one should keep in mind while developing their product are explained in the video?
The process begins with the Identification of the Customers, here we understand the biggest demography of their needs, what they need the most, and what constitutes it.
After understanding what customers need, it is important to Define the Problem. Here, problems are given more importance to knowing than the solutions for a better understanding of the situation. These problems are then broken into subproblems and the problem is identified to its very core.
The next step is Solutioning and Use Case. Here the problem is solved for the root cause and user interaction with the product is taken care of. Edge Cases, Error handling, and Metrics of Success are other parts that constitute this point.
The last step of the Product Development Life Cycle is Implementation and Measurement wherein the approaches are looked into, such as MVP, Testing approaches like A|B, Pre-post, Hold out, etc., all of which are detailed in the lecture.
In this lecture, we will learn about Solutioning. Solutioning is concerned with identifying solutions for problems defined, dividing them into MVP and North star phases, discussing with stakeholders, and defining measurement/testing methodology.
Solutions can be divided into two parts: Generic Solutions and Use Cases. Generic Solution: Whenever you are building a solution, think of what you want to build in an ideal world, think without restrictions, and think of a Nirvana solution. Think of the other parts other than primary functioning, etc. These are all the North star solutions.
In MVP Solution we have to ensure that the North star solution is divided into minimum requirements in the first phase, keeping the major customer base in mind while doing this. The Use Cases are explained in detail with an example for better understanding in the lecture.
In this lecture, we will learn about the application of the learned topics through an example. The video deals with recapping the stages in PDLC with the Birth of a famous grocery delivery app.
It started with Identifying Customers. These were the working families in metro cities who have a shortage of time, are ready to pay for their convenience, need quick service, and are mid-aged and tech-savvy,
The next step is Defining the Problem. The problem associated is that the customers can't spare time to get daily groceries and need help with the same. the reasons being that they get free from the office late and a lot of shops are closed and want to be free from chores after a hectic day at the office.
After defining the problem, the next step of the process is Solutioning. This could be building an Internet-based ordering solution to allow anytime/anywhere hassle-free ordering with quicker delivery and identifying who our competitors could be.
After these steps are taken care of, the implementation and measurement are done via MVP and V2 which are detailed in the lecture for a thorough understanding of _ Technical, Operational, and Eventual _ parameters.
The Use cases in adherence to Visualising Customer Journey and Competitor User Journey should be referred for a thorough understanding of the topic.
In this lecture, we will learn about What is a Wireframe and how it is basically used and what can we do using a wireframe and what is the best way to create one.
A wireframe is used when we have to represent a desktop/ mobile application. Basically how the application looks, its functions, etc.
Wireframe is important because it defines the usability of the product. For example, there’s a button to be placed on the screen, and choosing the right position where it's easy for the user to access it, is the kind of decision one makes in a wireframe.
In the further parts of the lectures, Wireframe is explained with suitable examples for better comprehension and understanding.
In this lecture, we will learn how to map a customer’s journey. How satisfied or dissatisfied a user is with an existing set of products.
Here, we try to analyze what a user expects or is unhappy about in the existing products that can be inculcated in the new developing product. Another way of a Customer Journey Map is that when we already have an existing product and we want to improvise on it, we would want to know what part of the product can be improved.
The stages of a customer’s journey are the Motivation to buy the product, Searching for the website that sells those, Browsing the websites, Evaluating the Product, and then Paying for it - described in detail in the video.
It is through this, that we can rationally make Product related decisions.
Product Management Course: Essentials for Beginners" by Board Infinity, is meticulously designed to provide a comprehensive introduction to the world of product management, tailoring particularly to those who are new to the field.
The course starts with a broad overview of what product management entails, exploring its vital role within an organization. It provides insights into the multifaceted job of a product manager, clarifying their responsibilities in maintaining the balance between stakeholders, the development team, and the end-users.
Modules like "Backlog Creation" and "Prioritisation" are designed to help you understand and manage the pipeline of product development, offering you tools and methods to effectively prioritize tasks. The "Problem Definition" and "Solutioning" modules delve into the crux of product management, teaching you how to identify problems and ideate effective solutions. Real-life examples are provided to foster a deeper understanding of the concepts.
The course further expands to cover implementation strategies, providing a detailed understanding of 'wireframing' and its utility in visualizing user interfaces. You will learn how to craft 'User Personas' and 'Customer Journey Maps' to better empathize with your users and understand their needs.
This course is more than just lessons; it's a toolkit packed with practical strategies and actionable insights that can be directly applied in real-life scenarios. By the end of this course, you will have the foundational skills and knowledge required to kickstart a successful career in product management.