Social commerce is the process of selling products and services directly on social media platforms like facebook, whatsapp, twitter, instagram etc that support social interactions and user contributions.
Benefits to Customers & Merchants :
In turbulent and uncertain times of COVID, it is tempting for everyone to wonder whether companies do actually require a strategy. When there is total uncertainity, the last thing you want to do is to be paralyzed. You need to make difficult choices based on what information you have at the time. The need to stop analysing and start doing even if you are not entirely sure that what you are doing is going to be successful.
Once you start, new information will appear which will allow you to revise your plan. …
The electric scooter and motorcycle market is projected to reach 7.92M units by 2027 from an estimated 684K units in 2019, at a CAGR of 35.8%. Rising emission concerns, privatization of charging infrastructure, new govt. regulations and subsidies are likely to propel the overall market.
Customer : Use Case
● Short trips such as going to work, leaving children to schools etc.
● Services industry for delivery purposes
Region : Market
Asia Pacific — High demand for e-scooters
Europe — High demand for e-motorcycles
North America — Average demand for e-motorcycles
Segment : Type
Vehicle type : e-scooter/e-moped, e-motorcycle
Hiring product managers is one of the most challenging and important tasks for product team leaders or any other leaders like CEO, CTO etc. So how do you make sure you’re hiring the right person? It’s all about asking the right questions. Entering an interview unprepared is just as bad for the interviewer as the interviewee.
The goal of this interview guide is to provide you with a structured framework to help you hire product managers with confidence and speed. I recommend your interview process consists of four relevant areas to make sure everything is covered.
● Significant Accomplishments (Resume…
When a software company offers only one version of the product, then there is always a deadweight loss which will be higher than when it offers more versions of the product.
One key characteristic of software products is that they have high cost of production and low cost of reproduction. Different customers may have different value for a particular software product so differential pricing becomes very important. A key aspect of pricing is to use value-based pricing : sell your product at different prices to different customers based on their willingness to pay (WTP).
Fact : Less than 0.02% of mobile apps are successful
You all know that developing a mobile app is only a first step in the journey of delivering a successful mobile app. In order to make your app successful, you need to measure the right metrics, iterate, A/B test and optimize to reach your target goals.
Every mobile product manager has a same question in his mind -
“What are the key mobile app metrics I should track?”
So, I am going to share a note on key mobile app metrics which my product team track and work continuosly towards…
Analysis of both cost and WTP is needed to really understand whether or not a firm has a competitive advantage which is defined as a wider gap between cost and willingness to pay than competitors.
Customer willingness to pay(WTP) is estimating how much a given customer would be willing to pay for a particular product or service.
Demand estimation is predicting the overall size of the market or segment which a company chooses to serve.
Different customers will have a different willingness to pay for a firm’s product which would place them in a different market segment. …
How to set goals for successful teamwork?
For years, I have worked with very talented teams and they have chosen the right objectives and the wrong objectives. Many have succeeded, others have failed. Today I am going to share with you what really is the difference between successful and not so successful teams.
Some of you may know him. He is Andy Grove — Former CEO of Intel.
He always said “Ideas are precious, but they are relatively easy. Execution is what matters the most”. …
BACER — pronounced as बसर in Hindi means “Vision”
How to decide what to work on first?
This is a common challenge I have seen across product teams when building a roadmap at companies, both large and small. If the product team has put in effort into finding new opportunities and understanding customer feedback, there will be lot of good ideas and they just need to dedicate time to prioritise (!= one day offsite work).
It’s a difficult problem to solve!
The product managers are tempting to work on pet ideas instead of opportunities with high adoption. It’s also tempting…