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1. Your product is used by businesses of various sizes. A very large company, that is interested in your product, would like a set of features implemented if they were to purchase your product. As a customer, this company would significantly increase your revenue.
They also tell you that the features would improve your product and would win more customers. The requested features will be expensive and require extensive redesign. Also, you have not heard any similar feedback from any other customers or leads.
What is the most appropriate action?
Response:
A) Implement the features in line with the request as they are an influential customer.
B) Devise workarounds that will satisfy their request without needing a product redesign.
C) Perform market research to evaluate the demand for the features within the broader market.
D) Create experiments to better understand their needs and possible alternatives.
2. Your organization wants to develop a new product and has hired you to lead the initiative. The product's stakeholders are unable to agree on what the product should be and who its customers are.
Which of the following would help you decide on what should be done?
(choose the best answer)
Response:
A) Work with product management to collect product requirements and prioritize the work in the Product Backlog.
B) Have the developers work on the architecture and infrastructure while you work with the stakeholders to finalize the product details.
C) Have the team work on something until all stakeholders reach a consensus on a clear vision for the product.
D) Select parts of the product to build and deliver in order to test the market place and to gather feedback on its needs.
3. You have two products serving different markets. Product A has the majority market share within its market and also has high customer satisfaction. Product B has low customer satisfaction and low market share in a new growing market where its competitors also share a small percentage of that market.
Which product should you prioritize investments?
(choose the best answer)
Response:
A) Product B
B) Product A
4. Your new product sales are not growing as fast as competitors' sales and you don't know why. Which Key Value Areas would you evaluate to help you decide on the next steps?
(choose the best two answers)
Response:
A) Time to Market.
B) Ability to Innovate.
C) Current Value.
D) Unrealized Value.
5. A company wants your advice on how to find new business opportunities. Which of the following is the best approach?
Response:
A) Sponsor an event where employees can present new ideas.
B) Create experiments to discover customer satisfaction gaps in various markets.
C) Work with a specialist to find opportune growth markets.
D) Have the teams spend 20% of their time working on new ideas.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C,D | Question # 5 Answer: B |
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