In the role of Product Manager, you will be responsible for prioritizing, guiding to completion, and then measuring the success of tech-enabled revenue generation tools.
For this case, your task is to analyze three lead generation tool ideas and to suggest which the organisation should work on first. You will then create a development plan and brief and will identify targets and measures of success for the tool that you have chosen as the most important.
For simplicity, assume the organisation sells $20K USD US university consulting programs. The aim of the tool is to increase sales of this product.
THE PROPOSED TOOLS
1. External scholarship match tool – A tool where students share information about themselves, and the calculator suggests scholarships and grants that are relevant to them
2. A Level to GPA converter - A tool where students can enter their A level grades to be converted into a comparable GPA score
3. Extracurricular score calculator – A tool which evaluates and quantifies a student’s extracurricular and leadership portfolio
Task: What's your plan of action for this task?
To showcase my systematic approach and logical reasoning, I've compiled the following presentation deck, outlining my step-by-step methodology. The deck includes:
Explanation of my decision-making process behind prioritizing the three proposed tools, accompanied by solid reasons and considerations. I also advocate how my prioritized tool aligns with the organization's objectives.
Definition of a Value Proposition Canvas aimed at creating customer-centric solutions by comprehensively understanding customer needs, problems, and gains. This ensures a robust fit between the product and the market.
Forecasting the specifications of the Minimal Viable Product (MVP), laying the groundwork for its development and deployment.
Comprehensive coverage of the design aspects, including UI mockups created using Balsamiq Wireframe, proposed database amendments, and the integration strategy within the existing marketing platform.
Discussion on resource allocation based on cost and priority, ensuring efficient utilization of resources in the project implementation.
Outline of the product implementation roadmap, providing a clear timeline and actionable steps for the successful execution of the project.
Establishment of success metrics and Key Performance Indicators (KPIs) to gauge the effectiveness and impact of the implemented solution.
I created a set of low-fidelity wireframes utilizing Balsamiq Wireframe, providing a clear design framework for the UI/UX team to assess and enhance, or for the software developer to reference during the implementation process.