How to answer strategy questions?

Tag: product_strategy

Answering a strategy question is a brainstorm/discussion with the interviewer for a set of questions listed below. And the deliverable of the questions is a thesis that showcases the ability of conducting analysis, suggesting choices and making decisions. The interviewer is looking for the breadth of thinking and also depth of diving deep into details.

How does the thesis differ from that of a product design question? I believe that a strategy is a set of zoomable decisions that covers product design but more. And product design is one type of strategies with a focus on user experience and execution.

The questions a strategy answer needs to answer:

• Should we do this? Why should we do this? (Think along the intro and related work section of a paper):

  • Explains the insights on the problem space’s current status and new trends/behavior. E.g. grocery shopping is undergo big changes.

  • Understand the eco-system/landscape (upstearm/downstream).

  • Competitive analysis, current solutions.

  • Competitive Advantage.

  • Frameworks:

    • SWOT: Strengths/Weakness/Opportunities/Threats

    • 5Cs: Company/competitors/Customers/Collaborators/Climate

    • Porter’s 5 Forces: Rivalry Among Existing Competitors/Buyer Power/Supplier Power/Threat of Substitutes/Thread of New Entrants

• What do we need to do?

  • Customer Purchase Behavior:

    • Reach:

    • Engage:

      • Attention

      • Interest

      • Desire

      • Action

    • Activate:

    • Nurture:

• How can we do it?

  Three options to discuss further:

  • User Experience Design: Becomes a product design question.

  • Market penetration: product/price/promotion (Ads, PR, WoM, sales)/Place (distribution channel).

  • Successful biz goals.