Introduction
Tasked with the challenge of conceptualizing a new product, PM candidates often need to showcase their creativity, user empathy, and business acumen. Here, we will explore the question, “Build a celebrity engagement marketplace product,” using a structured framework to guide our ideation process. This article demonstrates how a candidate might navigate such a product design question in a FAANG interview for a PM role.
Detailed Guide on Framework Application
We will use the CIRCLES Method™ (Context, Identification of customer, Reporting of customer needs, Cutting down to essentials, Listing solutions, Evaluating trade-offs, and Summarizing recommendations) to answer this question from ‘Decode and Conquer.’
Step 1: Context
Set the stage by defining what a ‘celebrity engagement marketplace’ is and what goals such a platform might aim to achieve.
Step 2: Identification of Customer
Identify your key customers. Are they fans, event planners, businesses looking for endorsements, or the celebrities themselves?
Step 3: Reporting of Customer Needs
Articulate the needs, desires, and pain points of your identified customers. This will inform the design and features of the marketplace.
Step 4: Cutting down to Essentials
Prioritize the marketplace’s features based on the needs you’ve uncovered. Focus on what’s minimum but vital for launch.
Step 5: Listing Solutions
Brainstorm potential solutions that could satisfy the customer needs and prioritize these solutions based on their impact and feasibility.
Step 6: Evaluating Trade-offs
Discuss potential trade-offs in features or implementation for the short and long term, balancing user needs with technical and operational capabilities.
Step 7: Summarizing Recommendations
Conclude with a recommendation for the most important features to include at launch based on the previous steps’ findings and evaluations.
Hypothetically, if you identify event planners as your primary customers, and they require a reliable way to book celebrity appearances, the platform may need a booking system, transparent pricing, and a way to communicate with celebrities or their agents. You would then narrow down the essential features for a Minimum Viable Product (MVP), such as a searchable database of celebrities, an integrated calendar for scheduling, and secure payment processing. From there, possible solutions could include a tiered subscription model for users, additional services like contract facilitation, and a review system. Discuss trade-offs, such as whether to include international celebrities or focus solely on a specific market at the outset. Finally, recommend a focused launch with key features and an outlined plan for scaling and adding additional services.
Communication Tips
In this exploratory process, it’s essential to:
- Be concise but comprehensive in defining and setting the context.
- Deeply understand and eloquently express the customer’s perspective.
- Be logical in cutting down features to the essentials and providing justifications for your choices.
- Have a clear summary that underlines the feasibility of your recommendations.
Conclusion
Building a product from the ground up requires a blend of creativity, strategy, and customer-centric thinking. By employing the CIRCLES Method™, candidates can demonstrate their product design and planning prowess in a FAANG interview. Remember to stay focused on the customer, think through your product vision strategically, and articulate your reasoning clearly. Practice using this framework to refine your answers around product design questions for a successful interview.