Mittal School of Business

LOVELY PROFESSIONAL UNIVERSITY

Phagwara, Punjab

Product Management Foundation

Subject code: MKTM672

Academic Task: CA-2

Submitted To:
Ajay Chandel

Section:
Q3E36

Submitted by
Name Registration Number Peer Rating Contribution
Rahul Kumar Singh 12201237

pg. 1
Prioritization is important when confronted with the situation of having to decide between fixing a
defect in a product, working on a new feature, or adhering to current priorities. The following actions
can help you prioritise:

Determine the problem's severity: If the bug is serious and impacting a lot of people, it could be
important to solve it first. By doing this, a detrimental effect on the product's reputation and consumer
happiness could be avoided.

Assess the new feature's significance; if it is essential to the development and success of the product, it
may need to take precedence. This could encourage new users and keep current ones coming back.

Examine the current priorities: Analyze the current priorities' significance and urgency. These might
need to be prioritised if any of them are necessary for the success of the product or have a deadline.

Think about the effect on users: Think about how each choice will affect users. Give top consideration to
the choice that would benefit the bulk of users.

Consult with relevant parties Engage with stakeholders, such as team members, users, and leadership,
to better comprehend their requirements and objectives.

You may decide what to prioritise once you have taken these things into account. To ensure the product
is effective and satisfies the demands of customers and stakeholders, the ultimate objective should be to
strike a balance between fixing issues, introducing new features, and attending to current priorities.

Criteria Option 1: Addressing Option 2: New feature Option 3: Existing

bug priorities
Severity of bug High N/A N/A
Importance of new N/A High N/A
feature
Urgency of existing Low/Medium Low/Medium High
priorities
Impact on users Negative Positive Positive
Stakeholder input Mixed opinions Positive Positive
Overall priority 1 2 3

pg. 2
To determine if a feature that was launched is a success, Product Managers can use various metrics and
techniques, including:

User feedback: Gathering feedback from users about the feature can provide valuable insights into its
success. Feedback can be collected through surveys, user interviews, and customer support interactions.

Engagement metrics: Measuring user engagement with the feature can indicate its success. Metrics
such as usage frequency, time spent on the feature, and user retention can be tracked and analyzed.

Conversion rates: If the feature is designed to drive conversions, such as sign-ups or purchases,
measuring conversion rates before and after the feature's launch can indicate its success.

Financial metrics: If the feature is expected to generate revenue, tracking financial metrics such as
revenue growth, average revenue per user, and customer lifetime value can indicate its success.

Market share: Tracking changes in market share after the feature's launch can indicate its success
relative to competitors.

Overall, a feature's success can be determined by evaluating its impact on the business, user
satisfaction, and market share.

Example:-

Let's assume that after the launch of the 108MP camera with different filters, we collected the
following data:

Here is a table to demonstrate how we can track the change in market share for Realme's smartphone
sales before and after the introduction of a new feature:

Month Realme Market Share Competitor Market Share

1 10% 25%
2 12% 24%
3 15% 23%
4 16% 22%
5 18% 21%
6 20% 20%

pg. 3
 Market
Share
25
20
Realme
15
10 Competitors
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In this example, we can see that Realme's market share steadily increased after the introduction of the
new feature, while their competitor's market share remained relatively stable. This indicates that the
new feature likely played a role in Realme's success and increased market share.

Example2:-

How Realme might react if they shipped a new feature into production and it didn't behave as
expected:

Let's say Realme just released a new feature in their mobile operating system that is supposed to
improve battery life. After the feature is released, they notice that some users are experiencing
decreased battery life instead of an improvement.

Identify the issue: Realme's development team would first need to identify the issue and determine the
root cause. They might analyze system logs, user feedback, and perform testing to reproduce the
problem.

Escalate the issue: Once the issue is identified, the development team would escalate it to the
appropriate team or person responsible for addressing it, such as a quality assurance engineer or a
product manager.

Prioritize the issue: Based on the severity and impact of the issue, Realme would prioritize it
accordingly. In this case, since decreased battery life is a significant problem, it would be considered high
priority.

Communicate the issue: Realme would communicate the issue to relevant stakeholders, including the
development team, product managers, and customers, through their customer support channels or
social media.

pg. 4
Develop and deploy a fix: Realme's development team would work on a fix for the issue, such as
correcting a code error or modifying the feature's behavior, and then deploy the fix to the production
environment.

Monitor and validate the fix: After deploying the fix, Realme would monitor the system to ensure that
the issue is resolved and validate that the fix did not introduce any new issues or problems.

Conduct a post-mortem: After the issue is resolved, Realme would conduct a post-mortem to identify
the root cause of the problem and to learn from the experience. They might also implement changes to
their development and deployment processes to prevent similar issues from occurring in the future.

One example of a great product is Flipkart, an Indian e-commerce company. Flipkart is known for its vast
selection of products, competitive pricing, and user-friendly interface.

One of the things that makes Flipkart so great is its ease of use. The company has a user-friendly
interface that allows us to easily navigate through the website and find the products We are looking
for. The website also provides detailed product information, customer reviews, and ratings, which helps
us make informed purchasing decisions.

Another factor that makes Flipkart great is its vast selection of products. The company offers a wide
range of products across various categories, including electronics, fashion, home appliances, and more.
This means that we can find almost anything we need on the website.

Additionally, Flipkart's competitive pricing is another factor that makes it great. The company offers
products at competitive prices, and frequently runs sales and promotions to provide customers with
even greater discounts.

Overall, Flipkart's ease of use, vast selection of products, and competitive pricing are some of the factors
that make it a great product. The company has revolutionized the way people shop online in India, and
has become a trusted and reliable platform for millions of customers.

example of a Flipkart product :-Product: Flipkart SmartBuy Premium Cotton Double Bedsheet.

Data Table:

Feature Specification
Brand Flipkart SmartBuy
Material Premium Cotton
Thread Count 144
Bed Size Double
Set Contents 1 Double Bedsheet and 2 Pillow Covers
Design Floral Print

pg. 5
Dimensions (Bedsheet) 220 cm x 240 cm
Dimensions (Pillow Cover) 46 cm x 68 cm (LxW)
Color Blue and White
Wash Care Machine washable
Price Rs. 699

What makes this product great:

Premium quality material: The Flipkart SmartBuy Premium Cotton Double Bedsheet is made from high-
quality cotton, which is soft, comfortable, and durable.

Elegant design: The bedsheets come with a beautiful floral print design that adds a touch of elegance
and sophistication to your bedroom.

Affordable price: The product is priced at Rs. 699, which is quite affordable compared to other premium
bedsheets in the market.

Easy to maintain: The bedsheets are machine washable, which makes it easy to maintain and keep them
clean.

pg. 6