Digital Product Management: Modern Fundamentals Quiz Answers

All Weeks Digital Product Management: Modern Fundamentals Quiz Answers

Digital Product Management: Modern Fundamentals Week 1 Quiz Answers

Quiz 1: Practice Quiz on the #Winning PM

Q1. You’re exploring a big new feature idea. Where should you place your initial focus?

• User Experience
• Desirability
• Viability
• Feasibility

Q2. You are interviewing at a company that says they use agile with a focus on innovation. The interviewer asks how you would spend your time at the very beginning of a project where you are exploring a big new feature. How should you best respond?

• I would start by creating a product proxy.
• I would start with the use of focus groups.
• I would start with a development plan.
• I would start by making observations.

Q3. You join a project and the only thing you see is a detailed development schedule. What might you ask to help maximize the chances of building something valuable/minimize waste?

• How easy is it to use the potential new product?
• Have we validated the feasibility of this plan?
• Who are we building this for and why do we think this is the right solution to their problems or desires?
• Have we validated the viability of this plan?

Quiz 2: Practice Quiz on Many Areas, One Focus

Q1. As Product Manager, the very best thing your designer colleagues can do for you is…

• Make the product look great
• Ask hard  s
• Do what they are told
• Work fast to get the product out the door

Q2. As Product Manager on a software development team, you are unsure if you should take on the product owner role. What should you do to figure that out?

• No need to evaluate. Take on the role of Product Owner.
• Evaluate how things are going.
• Talk to management. Where do they want you?
• Take it on! Product owner is the same as product manager.

Q3. What is the primary goal of using consulting or support services within a product-focused company?

• Using consultants is standard operating procedures in my industry
• To improve the core product
• To provide customers help when they don’t have the internal capacity
• Consultants know the most about a user experience

Q4. As a Product Manager, what can you learn from mapping your team’s understanding of the customer onto storyboards and customer journeys?

• You can learn the product pros and cons
• You can identify specific places where the customer is experiencing high and low emotional points
• You can learn where your teams experience high and low levels of efficiency
• You can learn where you, the Product Manager, are experiencing positive and negative reactions to your product

Q5. You are a Product Manager and you ask your sales team why they are unable to sell more of your product. They respond by saying, “The customer wants us to add feature ABC – then they say they will buy it.” Which of the following is the best response?

• “Okay great. How many more do you think we can sell?”
• “How could we test if that’s really going to get them to buy it?”
• “Hmmm…I am not so sure. Let’s look at offering customers deals with our current product since we already have that one.”
• “That sounds pretty good. Do you know if other customers would also like this feature added?”

Q6. What is the primary difference between managerial and financial accounting?

• The way of keeping track of cash inflows
• The timing
• The numbers
• The audience

Q7. Why is it important for Product Managers to interface across all functional areas in the company?

• Double check different teams’ work and make sure it is error free
• To better understand how to achieve a profitable intersection between desirability, feasibility, and viability.
• To ensure all teams adhere to strict deadlines
• Maintain control over the product

Quiz 3: Week 1 Final Quiz

Q1. As Product Manager, to hone in on desirability, which of the following steps should you take?

• Conduct user testing to see if customers like the product once they use it.
• Add new and exciting product features.
• Conduct user interviews to learn more about your potential customers.
• Hold focus groups to get to know your customers and what they think about the product.

Q2. During your interview at a large software company, management states their primary learning vehicle for product development is conducting focus groups. How would you evaluate this statement?

• With focus groups there is no need for a product proxy
• They are using an innovation-friendly model
• They have lots of opportunities to improve their customer discovery/learning
• The company is forward thinking by using focus groups

Q3. You are getting ready to brief your Sales and Marketing team on a major new B2B customer. What do they need to hear?

• An actionable view of what you are going to build
• How the customer plans to use the product and why they purchased it
• Customer touchpoints and a description of the customer experience
• A strong sequential narrative on the customer experience

Q4. As a Product Manager, what would you say to initiate a discussion about using Lean Startup with your design team?

• We’ve already created product prototypes so, we’re beyond Lean Startup.
• Building new products is hard; they have something like a 1/10 success rate. By doing Lean Startup, I think we can reduce waste and give ourselves more chances at finding something that’s highly desirable to the customer.
• We have already learned about our customers and have solutions to potential customer problems. We can skip Lean Startup.
• We have already done extensive customer discovery research. Do we really need to add Lean Startup?

Q5. You are a Product Manager and your supervisor asks you to think about taking over the Product Owner role. Before giving an answer you want to evaluate different areas. Since you care about project success, what is the one   you will not need to ask yourself before answering your supervisor?

• How are things currently going?
• Is there someone else who wants to do it?
• How much time do I have?
• Do I know enough about agile?

Q6. A member of the support team tells you that everyone is feeling overwhelmed because they each operate individually and give customers slightly different answers. Which of the following is the best first action you could take to improve the internal support team’s work environment?

• Tell them to only stay with each customer for 10 minutes
• Go to support services and help them for one day
• Equip them with the right playbook
• Hire more people

Q7. As a Product Manager, you have just mapped the customer journey low points and high points, well supported by quantitative measurement. What should you do about the low points?

• Start by looking at why they occur with qualitative investigation.
• The low points are representative of where you, the product manager, have a low emotional reaction. Delve into why that is.
• The low points represent the times where your team was working most inefficiently and try to fix it.
• Take a look at the product. The low points are the cons of the product.

Q8. Oh, no! Product sales are very slow, so your sales team asks your main customer what they would like to see in the product. You build in the requested features, but find customers are still not buying your product. How should you change your approach?

• It is most important for you and your sales team to talk with more than one customer about product enhancements.
• Learn more about your product/market fit and share that information with your sales team.
• Direct sales and marketing to provide customers with deals or incentives so they buy the product.
• Stop changing the features of the product and stick with the original design. Your sales team can keep selling.

Q9. You are a Product Manager and find yourself in a meeting with management and shareholders. Which type of financial reports are mostly likely to be relevant to the shareholders?

• Cash basis accounting
• Managerial accounting
• Accrual basis accounting
• Financial accounting

Q10. Which of the following diagnoses is most likely to severely limit valuable innovation?

• Some teams are not meeting their deadlines.
• You notice your teams are working in silos.
• Some teams are not working well.
• Some teams are working very quickly to meet deadlines but mistakes are being made.

Digital Product Management: Modern Fundamentals Week 2 Quiz Answers

Quiz 1: Practice Quiz on Solving the Right Problem

Q1. As a Product Manager, you know it is very important to apply agile methodologies to your product development process. Agile provides many benefits, but it does not allow you to do which of the following?

• Apply innovation methods in your development
• Create a disciplined approach to design and customer discovery
• Work in small batch iterations
• Skip proposition testing

Q2. What is the primary benefit of using Lean Startup?

• Avoiding waste
• To create a fluid interchange between people working at different abstraction levels
• Tighter clinical practice on interview subjects for customer discovery
• Improve the flow of your development output

Q3. Why is it important (as a Product Manager) to take a big idea and break that idea into small testable pieces?

• You can more accurately predict idea success
• You should not break the idea apart
• You can test the idea sooner and avoid waste
• You can make a definitive decision about going forward with the idea

Q4. A company wants to start an organic pre-made meal delivery service and decide to test the motivation of their potential customers. They decide to test the service with a few people. They provide them with a paper menu and once the customer selects their dinner choice, the company makes and delivers the meal. What type of minimum viable product (MVP) have they created?

• Sales
• Prototype
• Wizard of Oz
• Concierge

Quiz 2: Practice Quiz on Creating the Right Solution

Q1. You are PM for XYZ.com, a social learning community platform that allows members to ask and answer s from area experts. If you apply the Hook Framework, what would be a trigger for your product?

• I need an answer to this difficult .
• I am becoming a valued member of this online community!
• ‘Wow! That is a great answer to my .’
• I am going to log into XYZ.com and post a .

Q2. You are a product manager who is using story mapping to help prioritize different user stories. A typical user interaction with your product is search, select, purchase, and watch. How should you implement these?

• Implement all search-related user stories, then select, then purchase and finally watch
• Implement user stories in horizontal slices across the entire interaction
• Conduct user testing to determine which area of your workflow is most important to the user
• Implement all search and follow the implementation with user testing

Quiz 3: Practice Quiz on Applications in Product Management

Q1. You are a Product Manager and you want to explain to your team what you think is the most important initial focus of testing a new product idea. Which of the following would you suggest as the best starting point?

• We must initially test to see if the product delivers.
• We must initially test to see if the product is usable.
• We must initially test to see whether our target user might finds the new product/feature valuable.
• We must initially test to see if the product works.

Q2. You have just received some quantitative data on click-through rates for a Google AdWord campaign. How is this data useful to you?

• The data will show you which aspect(s) of your product your potential customers find most usable.
• The data will show you to what degree the potential customers like the product you’ve developed.
• The data will show you if you are or are not able to keep your customer’s attention.
• The data will show you if and how you have caught the attention of potential customers.

Q3. As a Product Manager, you use the AIDAOR framework to manage your customer funnel. Which of the following is the best description of what this framework does for you?

• This framework gives you qualitative data about your potential customers.
• This framework gives you data about how your potential customers feel about your product.
• This framework gives you quantitative data about your potential customers.
• This framework gives you a place to focus and operationalize both quantitative and qualitative observations.

Q4. A brand new PM comes to you and asks if you can explain why they should use a design sprint. Which of the following answers bests describes why a Product Manager should use a design sprint?

• A design sprint will help you to investigate your customer at a deeper level.
• A design sprint will help you create a successful product if you are short on time.
• A design sprint is a quick way for a product manager to run an MVP experiment.
• A design sprint is a way to create time, space and focus for exploring new ideas (before you develop).

Quiz 4: Week 2 Final Quiz

Q1. What is Scrum?

• The way teams do agile
• Part of the agile manifesto
• A methodology commonly applied to the practice of agile.
• An alternative to kanban

Q2. What is the primary benefit of using story mapping?

• To translate ideas into actionable items
• To create a fluid interchange between people working at different levels of abstraction
• To test value propositions and create validated learning
• To make sure what you are building matters to the customer

Q3. You discover that the interface you are implementing for your product might actually be confusing for the end customer. With an approaching deadline for product release, you decide to continue down the path you are already on and NOT rethink the interface. What is this a sign of?

• You are frontloading value
• You have placed too much emphasis on output vs. outcome
• You’re applying agile and will iterate to improve the product post-launch
• You have placed too much emphasis on outcome vs. output

Q4. One of the design team leads brings up her concerns regarding a possible lack of customer motivation. They are looking for insight from you, the PM. What do you suggest?

• Using Minimum Viable Products (MVP’s) to test for motivation
• Use a prototype to see what the customer thinks
• Immediately begin user testing to determine the cause
• Go to your engineering team so they can make changes to the current product

Q5. You are PM for XYZ.com, a social learning community platform that allows members to ask and answer s from other expert members. If we apply the Hook Framework to this company, what would be an “Action” a user might take?

• I am going to log into XYZ.com and post a .
• I am becoming a valued member of this online community – and learning new things!
• Facebook Post: Check out my advice on [which rabies vaccine is right for you] on XYZ.com.
• Comment on Your Answer on XYZ.Com: ‘Wow – that is a great answer to my .’

Q6. You are a Product Manager with three steps in your workflow sequence: Select, Purchase, Watch. Your supervisor tells you that she believes you should implement horizontally – across all phases. Which of the following best displays your reaction?

• I think so too. Horizontal implementation will ensure our team members are communicating and not operating in silos.
• I agree. Horizontal implementation will help ensure we can test something meaningful that the user can interact with.
• I was thinking we can first conduct user testing, see which step is most important, and start there.
• I disagree. I think we should implement everything in the “Select” phase first before we move on.

Q7. Your customer is a large company and they ask you to help develop new feature on the enterprise software you’ve sold them. They tell you they want all of the font to always be bold. As product manager, which of the following should be your reaction when they tell you this?

• You should start by giving them what they want since they are the customer. You can address issues later.
• You need to first ask them why they want the font to always be bold to try and understand the why and what outcome would constitute success.
• You should quickly create a prototype and start testing it! That way you can see how users react to this change.
• You should not implement that feature because it does not seem practical to you. Your company is more of an expert in these matters and the customer should trust your judgement.

Q8. The software product you recently released already has some quantitative data about click-through rates that show you have gained attention from customers. What should be your next step with customers?

• Start to research retention rates across cohorts.
• Focus on keeping the interest of your customers and moving them to action.
• Take a look at the action your customer has to take to use your product and try to make it easier!
• Place your efforts on customer retention.

Q9. You are a Product Manager and you receive quantitative data which shows significant drop-offs in customer usage of your product at the six-month mark. Which of the following actions should you take?

• Increase marketing
• Take a hard look at the onboarding and retention processes – what rewards does the customer have to receive in order to keep using your product?
• Lower prices to increase value
• Get more quantitative data

Q10. You are Product Manager and you are not sure that your product proposition is better than the alternatives your customer considers. You have one week to do a design sprint. Which of the following design sprint types should you execute?

• Motivation Design Sprint
• Personas and Problem Scenarios Design Sprint
• Architecture Sprint
• Usability Design Sprint

Digital Product Management: Modern Fundamentals Week 3 Quiz Answers

Quiz 1: Week 3 Final Quiz: Exploring a New Product Idea

Q1. You are managing product development for a company and have decided to use Steve Blank’s Four Steps to organize your exploration of a new idea. What’s the last thing you will focus on during the product development timeline?

• Focus on testing a set of structured assumptions about customers and products.
• Focus on improving the product and customer experience and making it more efficient for feasibility and viability of the product.
• Focus on keeping an open mind, doing generative discovery with real subjects in their natural environment, watching what is on their A-list, and identifying what they care about most.
• Set up a company or division with interlocking interdisciplinary teams to start developing a potential product.

Q2. You are trying to develop a new product and have just completed Customer Validation. Where should you focus next?

• This is an inflection point: either pivot or persevere.
• Start scaling the product/market fit that you have achieved.
• Develop an MVP (Minimum Viable Product) to test and validate a set of structured assumptions about customers and our product.
• Set up an interdisciplinary team and scale the organization.

Q3. You’re discussing human resource input and staffing for your new product with your boss and a few colleagues. What’s your recommendation for staffing with minimum waste through Steve Blank’s Four Steps framework?

• In Customer Discovery, a full functional organization, rather than a customer development team, is necessary.
• In Customer Validation, a full functional organization should be involved.
• In Customer Creation, it is still too early to involve Partners and Channels.
• In Customer Validation, it’s a good idea NOT to utilize Partners and Channels in the existing business.

Q4. You are managing product development for a medical device company and exploring a new product for people who have Raynaud’s syndrome (a condition where people’s hands and feet go numb in response to cold or stress). You are thinking about a lightweight glove that can sense the temperature of and then warm the hands of people. You want to evaluate whether you can reach buyers for this product, get their attention, and that they have at least a basic level of interest in such a product. Which of the following MVPs would best help you get that kind of answer?

• An online video demonstrating the product design – a lightweight glove that senses the temperature of and then warms the hands of people – with a field for people to opt-in to receive more information.
• Provide users with fingertip stickers that sense the temperature of the fingers, and when the temperature drops, give them pre-warmed gloves.
• The sales and marketing team offers customers deep discounts on the new product, a lightweight glove that senses the temperature of and then warms the hands of people, after it is launched in the market.
• See if you can sell it to retailers.

Q5. You are managing product development for an online retailer and are considering a new category of goods to sell. You want to validate most of your core assumptions about potential demand before actually stocking up the products and building an e-commerce backend. Which of the following MVPs would be most efficient to achieve your goal?

• Create an online advertisement through Google AdWords.
• Build a website, let users shop on the website, and collect all the feedback.
• Directing a subset of potential customers to a webpage which displays photos products in this new category and see which items are ordered and in what quantity.
• Look at comparable sites to see how they approach sales in this area

Q6. Your company is considering launching an eco-friendly rodent deterrent spray and so you work with the product development team to develop problem scenarios, alternatives, and Value Propositions. Which of the following statements by your team would you agree with?

• The problem scenario (jobs they can do for the customers) should be neutral, unbiased and objective, such as keep out rodents.
• The problem scenario (jobs they can do for the customers) might be: Make sure to use spray to keep out rodents.
• The problem scenario (jobs they can do for the customers) might be: Cats not eating your rats? Our spray will keep them out- no caveats.
• The problem scenario (jobs they can do for the customers) might be: It doesn’t keep out rodents with electronic fences, which is one of the alternatives customers are currently using.

Q7. You are managing product development for a financial services company. You have narrowed down your ideas and are currently at the “Fledgling Business” (H2) stage of your innovation pipeline. Which of the following expectations or timeframe should you set for your project at this stage?

• You can budget 90 to 120 days for your project to complete this stage.
• 1 to 3 years is a typical timeframe at this stage.
• You can plan 6 to 12 months to complete this stage.
• You can innovate on BOTH new technology AND a new business model.

Q8. You are managing product development for a pharmaceutical company. You just started looking for some ideas of or inspiration for Zika treatment in Florida and potentially in South America. If you are currently not in those areas and you have limited resources to either send out your own team there or fly potential customers in, what approach would you use to understand the daily life of local residents and look for potential treatment?

• Training your team members and interviewing the residents in the field
• Reverse hackathon
• Partnership with local startups to run pilot projects and get answers to your s
• Studying the disruption catalysts in the healthcare sector

Q9. As PM for an organic fertilizer product, you have identified and validated product/market fit and have reached the point of bringing business to scaling and thinking about profitability and optimization, i.e. you are ready to move from H3 to H2. You decide to use the Business Model Canvas to outline your business plan and hand it in for management review. What might be a good first step to outline your ideas for the business?

• Customer Discovery: focus on keeping an open mind, doing generative discovery with grain farmers and gardeners, watching what is on their A-list, and identifying what they care about most.
• Mapping Customer Segments to Value Propositions to explain what you’re validated on product/market fit.
• Develop an MVP (potting mix with your product) to test and validate a set of structured assumptions about customers and our product.
• Try to keep a lean team – a customer development team, rather than the full functional organization, is sufficient for scaling product/market fit and tuning feasibility and viability for business.

Q10. As PM for an organic fertilizer company, you are using the Business Model Canvas to outline your business proposal to the management of your company. You have listed Customer Segments and Value Propositions. Now you want to proceed with customer relationships and channels to add more depth to your ideas. Which of the following is a valid “Customer Relationship”?

• Set up a stand at an agriculture fair as a promotion
• Eco-friendly product with no chemical residue on golf turf after application
• A garden store
• Dedicated personal service for grain farmers with 100+ acres

Digital Product Management: Modern Fundamentals Week 4 Quiz Answers

Quiz 1: Week 4 Final Quiz

Q1. What are some of the main profit drivers of companies with a scope-driven business model?

• Volume of users and sales
• Product categories and advertising
• Differentiation and demand
• Market share and retention

Q2. What would you expect is a business model type for a product with a highly standardized sales structure?

• Scope-driven
• Sales-driven
• Infrastructure-driven
• Product-driven

Q3. How might you use the Business Model Canvas (BMC) as a Product Manager?

• As a fixed and agreed-upon path of success for our product
• As a collaboration tool to create and share an understanding of the key success factors and assumptions around my product’s business model for my team and stakeholders
• As a tool to shape the product how I think it’s best
• As way to keep my collaborators in-check and complying with the various dimensions defined within

Q4. You have been assigned to a “Horizon III” (long term) project that’s key to the CEO’s vision. She asks you to disrupt the market by keeping the new product idea a secret and launching a fully fleshed product in 18 months. How would you respond to avoid product failure?

• Yes, but first I need to get estimates from all the team members to confirm if we will in fact take 18 months or if the process is going to be longer.
• That’s a long time! How about we build an MVP and see if this is viable before investing in anything major?
• What a great opportunity to get ahead of our competitors! Let’s get to work!
• Why don’t we do a prototype first? We need to the test usability to make sure the product is a success

Q5. You’re on an interview for a product manager job and are asked about tools like the fake feature test and the concierge test. How would you explain their value?

• Fine tuning usability
• Implementing these tools helps us on a “learning mission” where we’re quickly discovering what our users want.
• We can use these tools to get exhaustive data on user behaviors on our product.
• These tools allow us to back-up our ideas with management through the statistical significance of the tests.

Q6. As product manager, how would you describe the value of the three daily standup s to a new team member?

• The whole team gains a clear understanding of what work has been done and what work remains – so they can make smarter decisions about where to focus by themselves.
• It gives each team member an opportunity to explain why they have fallen behind.
• It gives us a chance to have a mini-retrospective on the previous day’s work.
• It helps me know who is on target and who isn’t getting their work done on time.

Q7. Which of the following is one of the common mistakes product managers make in regards to meetings and product planning?

• Focusing on precise deadlines to make sure project is on track
• Allow your team to self-organize
• Making developers spend time developing user stories
• Focusing on weeding out features for our current version

Q8. As a PM, which of the following practices should you avoid if you want to have a realistic and healthy sense of visibility around your project?

• Keeping your individual stakeholders informed on how the metrics they care about are progressing
• Creating an exhaustive product roadmap with the precise information of what’s happening at each point over the next 6 months.
• Having clear and vivid user stories that have a tangible impact on how you develop a product
• Not being on a locked-in path towards product completion

Q9. Your data analytics teams shares its objectives with you; they all look actionable and seems to serve your product’s future, except for one. Which one is it?

• Discover the point in the funnel our users are signing up so we can preempt traffic.
• Discover the point in the funnel our users are leaving the service so we can take action.
• Equip the sales force with available secondary data
• Equip the sales force to test the proposition that clients want these products so we can develop them.

Q10. Which of the following is an example of predictive analytics?

• A surge of 50% is expected, at 6:05 PM, when the new sneaker model goes online.
• 10% of users reported some dissatisfaction with the site because the shoes disappeared from their cart while browsing
• Since a huge demand for the new sneaker model is expected, an increase in customer service reps is suggested.
• 50% of visitors at 6:05 PM have a pair of sneakers on their cart.

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