Coursera Digital Product Management: Modern Fundamentals Quiz Answer

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About Coursera Digital Product Management: Modern Fundamentals

This course will help you along your learning journey and prepare you with the skills and perspective you need to.

Not so long ago, the job of product manager was about assessing market data, creating requirements, and managing the hand-off to sales/marketing. Maybe you’d talk to a customer somewhere in there and they’d tell you what features they wanted. But companies that manage product that way are dying.

Being a product person today is a new game, and product managers are at the center of it. Today, particularly if your product is mostly digital, you might update it several times a day. Massive troves of data are available for making decisions and, at the same time, deep insights into customer motivation and experience are more important than ever. The job of the modern product manager is to charter a direction and create a successful working environment for all the actors involved in product success. It’s not a simple job or an easy job, but it is a meaningful job where you’ll be learning all the time.

Who Should Take This Course?

This course is ideal for current product or general managers interested in today’s modern product management methods.

It has multiple modules which are divided into the following weeks:

• Create the actionable focus to successfully manage your product (week 1)
• Focus your work using modern product management methods (week 2)
• Manage new products and explore new product ideas (week 3)
• Manage and amplify existing products (week 4)

This course was developed with the generous support of the Batten Institute at UVA’s Darden School of Business and is instructed by Alex Cowan.

Below you can find the answers to the Coursera Digital Product Management: Modern Fundamentals Quiz.

Digital Product Management: Modern Fundamentals Week 1 – Quiz 1

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

• Feasibility
• Desirability <—-
• User Experience
• Viability

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

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?

• Have we validated the viability of this plan?
• 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? <—-

Quiz 2: Many Areas, One Focus

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

• Do what they are told
• Work fast to get the product out the door
• Make the product look great
• Ask hard questions <—-

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?

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

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 <—-
• Consultants know the most about a user experience
• To provide customers help when they don’t have the internal capacity

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

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?

• “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?”
• “How could we test if that’s really going to get them to buy it?” <—-
• “Okay great. How many more do you think we can sell?”

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

• The numbers
• The timing
• The way of keeping track of cash inflows
• The audience <—-

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

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

Quiz 3: Final Quiz

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

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

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?

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

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

• Customer touchpoints and a description of the customer experience
• An actionable view of what you are going to build
• How the customer plans to use the product and why they purchased it
• 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 have already done extensive customer discovery research. Do we really need to add 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’ve already created product prototypes so, we’re beyond Lean Startup.

Q5. You are the Product Manager and your development team has just demoed a new feature. At this demo, there was a lot of surprise and apprehension on the part of the stakeholders. Which of the following best represents what this reaction is telling you?

• The Product Owner is performing well in their role
• You need to look at how the Product Owner role is working
• You should take over the Product Owner role
• The product is not good

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?

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

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?

• The low points represent the times where your team was working most inefficiently and try to fix it.
• 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.
• 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?

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

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?

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

Q10. You take on a Product Manager role and are pleased to see several key success factors in place, yet there are some problem areas. Which should you focus on improving first?

• You are measuring specific progress being made.
• Your team members are working across multiple functional areas.
• You notice your teams are working in silos and only within their teams.
• Your teams are working very quickly, but mistakes are being made.

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Coursera Digital Product Management: Modern Fundamentals Week 2