Product Vision and Marketing

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Questions and Answers

What does product vision focus on?

goals, purpose, beliefs, reason why

What is the golden circle mentioned by Simon Sinek?

  • WHO, WHERE, WHEN
  • WHICH, WHY, WHEREFORE
  • WHILE, HOW, WHY
  • WHY HOW WHAT (correct)

Steve Blank coined the term 'get out of the building' to know your customers in their ________.

environment

People buy what you do, not why you do it.

<p>False (B)</p> Signup and view all the answers

What is the Startup Mantra Loop for iterative development?

<p>Build &gt; Measure &gt; Learn (B)</p> Signup and view all the answers

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Study Notes

Product Design

  • Product vision is about understanding the reason why, not just about the product itself.
  • It's about understanding one's goals, purpose, beliefs, and values.
  • The Golden Circle by Simon Sinek: WHY, HOW, WHAT.

Importance of Product Vision

  • Apple's marketing approach focuses on the WHY, not just the WHAT.
  • Example: "We believe in challenging the status quo... We just happen to make great computers."
  • People buy why you do it, not what you do.

Market Research

  • Environment Map helps understand the context surrounding the business.
  • Conduct research on key trends, market forces, macroeconomic factors, and industry forces.
  • Study competitors thoroughly.

User Research

  • User research helps understand pain points, needs, and preferences.
  • "Get out of the building" by Steve Blank: understand customers in their environment.
  • Talk to potential customers and apply user research techniques.

Problem Definition and Solution Generation

  • The Riskiest Assumption Canvas is a framework for defining and iterating hypotheses.
  • Breakdown: Hypothesis, Experiments, Data, Insights and Action.

Product Market Fit

  • Identify the problem that people need solved.
  • Find the best and easiest way to solve it.
  • Provide a solution at a price people are willing to pay.

Product Development and Testing

  • Repeat the Startup Mantra Loop: Build > Measure > Learn.
  • Continuously iterate and improve.

Future of Product Design

  • AI may replace traditional user interfaces with conversational experiences.
  • The "companion" device, like Rabbit, could transform app user experience.
  • Research on the future of Product Design is crucial.

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