product strategy, and also some kind of knowledge, how you should create the vision of product strategy, what kind of product strategy types we have, et cetera, et cetera, et cetera.

And in this part, we need to define the product strategy decomposition process. Product management strategy based of course of market research methods. And in previous part, as you remember,

we define also mission and the vision of our product. And we created also some kind of

market statement. And right now, based on that information in previous part, we need to understand what kind of market research methods we have in our tool set to understand

where we are at the market and on what kind of market we should be oriented in the future. So let's go through these 10 market research methods. And the first one is focus groups. You know guys about this method a lot, I guess, and the main idea or the main focus groups

trends is the natural conversation and discussion that can take place between participants in that group if they collect right and collected right and selected right. What is the focus

group in reality? This is a bunch of people into a room or just in virtual space. Actually, we need to record them and ask them about whatever they want to have in our product.

So these methods provide actually very good results based on openness, open conversation and discussion. The next method that we have in our tool set is surveys. And in survey

research, surveys questions are given to respondents in person, over the phone, email or in a line form. You know about that and questions can be closed ended or open ended. Surveys are massively versatile because of the range of question formats. Knowing how to mix and match

them to get what you need takes consideration and thought. Different questions need the right setup and good questions lead to good analysis. So please don't be frustrated when

you see some information in the internet that surveys doesn't work pretty good. It's based on conditions, it's based on audience that we want to cover and it's based on precise surveys or selected way of surveys execution. So this is also a good tool when you need to

collect the broad opinion because you could provide the surveys to much more wider audience than in previous case in compare voice focus groups. The third method is social media listening.

Social media listening democratizes insights and is especially useful for market research because of the vast amount of unfiltered information available. So this is also very,

very popular method, but for collecting of actually pre-selecting some kind of useful information about our market. On this slide, we have the next three market research methods. So

interviews, you know about this method a lot, I guess. In interviews, the interviewer speakers directly with their respondent. This type of market research method is more personal, allowing for communication and clarification, making a good or open-ended questions.

Furthermore, interviews enable the interviewer to go beyond surface level responses and investigate deeper, but you need to be aware that when you're going to use this method of market research,

you need to have a lot of capacity, personal capacity to provide the bunch of interviews. So I think we need to use this method only in case when you really need to clarify something. Experiments and fields, trials. This is the next one. So it's not really popular method,

but this method also used, for example, in product development, but not for software area, but more for hardware development. Field experiments are conducted in the participant

environment. This is a key accent of this method. They rely on the independent variable and the dependent variable. The researcher controls the independent variable in order to test its impact

on the dependent variable. So the key here is to try and establish whether there is causality going on. Pretty simple method, but you need to have some preconditions to use this method. And please

don't forget that this method is not universal for all types of product. Observation. This method, in comparison with previous one, is really universal. So observational market research

is a qualitative research method where the researcher observes their subject in a natural and controlled environment. This method is much like being a fly on the wall, but the fly takes

note and analysis them later. In observational market research, subjects are likely on behave naturally, which reveals their true selves. Observation methods is really, really popular

and the one of the cheapest methods of market research. The next bunch of methods and the first in this bunch is competitive analysis. Competitive analysis is highly strategic and specific form of market research in which the researcher analyzes their company's competitors. And there are

different topics to compare your firm with your competitors. It's really true. And SWOT analysis is key to assessing strengths, weakness, opportunities, and traits. Start with that tool

and after that, you can provide a lot of details based on approach of competitive analysis. So competitive analysis starts by defining the product services for brand and market segments.

They are different topics to compare your firm with your competitors. The next one is public domain data. Right now, it's one of the top data research methods. There are plenty of different

types of open data that are useful for market research. For example, government databases, woolen data, packed tanks, like, for example, Pew Research Center, and more. Furthermore, APIs grant developers programmatic access to applications. A lot of this data is fee,

which is a real boss. And please think about technical support if you don't have enough experience in mentioned areas. And think about the right specialist in your team for such work.

By researcher, it's also could be the method of market research. And actually, this is pretty popular method as well. And this can be a massive time saver. And you will have

a better idea of what you get in from the off. You'll also get all your data in a format that makes sense, saving your efforts in cleaning and organizing. And the last one is analysis or analyze sales data. We shouldn't forget about that as well, especially if we have the case of

real existing business. As a client, you won't want to launch the new product at the market. So in that case, we need to know the main things. Essentially, it indicates the results.

Analyze sales data for sure, because this is the past data. This is a happened event of sales, and you have some kind of results. Paired with other market research data,

sales data helps researchers gain a better picture of action and consequence. It's also important for understanding your customers, their buying habits, and how these are changing over time.

Obviously, this will be limited to customers, and it's important to keep in the mind. Nevertheless, the value of this data should be underestimated. If you are not already tracking customer data, there is no time like present. And this was the last one, actually market research method,

in market research methods tool set that you could use guys for market understanding generally.

So when you investigate your market, when you understand where you are at the market, the next step in product strategy implementation process will be to provide market investigations. Not all methods will be right for your situation or your business. You need to choose a couple of

them to compare the results to deep dive in details, but you shouldn't all use all of them. Once you've looked through the list and see some that take your fancy, spend more time researching

each option. The next accent is you want to consider what you want to achieve, what data you'll need and the pros and cons of each method and cost of conducting the research and the cost of analyzing the results. Any kind of actions in our product development process

has their own cost. So don't forget and be aware for everything you need to pay. And based on this fact, please save your efforts. And the last point is a get it right

and it will be worth all the effort. This is an example of, for example, provided market investigation. We have the participants just as

interviewees, for example, 204 people. We have some kind of characteristic of this audience, 70% of women and 30% of men and 90% in age of 22, 45 years old. This is our target audience.

This infographic results helps us to understand in quick manner where we are and with whom we're going to work. Just an example or another case yet provide market investigation. Again,

you can compare not only the audience, you should understand also the products. So we have just a comparison behind direct competitors and indirect competitors,

actually on feature levels with our product. So you can see, for example, the main feature and the main competitors and what kind of competitors use what features and in compare with all of them, we can have all this feature in one APP. It's also some level of market understanding.

So on this step, we can compare competitors' products. We also can think about our strategy,

main point representations. For example, use people insights to get the recommendations for concrete product, create algorithm to evaluate people preference, provide easy solution, create the best matching experience. So the main accents of our attention for the future product

functionality development based on market understanding. Also, for example, you can provide the combined form of infographic visualization of some kind of market

KPIs with actually comparison of our product, our main accents and our general or common

vision of our competitor. For example, as you can see, dining research done by mobile in 98% of cases, 15 billion, just some kind of market volume. And, for example,

high priority European Union in compare with some countries. So you can use also combination of infographical usage, our market information from our researchers with some kind of accents that are relevant for our product understanding. Also, we can provide only

main text information about the numbers, as you can see on the screen, just some kind of information. And actually, you can also provide some additional case, some kind of market opportunities,

you should remember that numbers always good, visualizing of these of the numbers is also always good. But in a lot of cases, we need to highlight for our development,

product development team, our investors, our customers. So as you can see, an example on the screen. And when you understand the market, when you provide some kind of description

in on this on different levels, as I mentioned before, for your market, you need to concentrate your attention on solution description. So we need to, we need to think how we should describe the solution, what we're going to propose. And very often, this work should be done in parallel

way with market research, or even more before that. But in any case, you should describe the solution. So what is solution description? So product describes what you have created,

and its capabilities. And solution is a business outcome that delivers measurable value to your customer. So business outcomes, this is a key word combination in that in that description in that

in that definition, how you should provide the information about solution. So as you can see, we have some APP for the best match of our preferences, when we want to eat something new, tasty and useful. In some new place, we have food C, APP. So you can see solution, what is

what is the essence in our solution, for example, engaging gesture driven, yeah, discovery faced

and easy decision making AI driven personalized recommendations based on preferences and expanded info about every place and dish. We have situation when we described the main solution

components, actually, based on customer preferences. And as you can see, we have just the discovery map, we have some kind of algorithm of decision making, we have some kind of

AI driven components, or some kind of algorithm, what kind of places our APP going to provide to our customers. And we have some kind of expanded info, yeah, about every place and dish that we

have in our APP. So as you can see, this is solution on product level, not on technical level on product level. Why? Because you're product manager. Let's provide this opportunity to think about the technical solutions to our architect guys, business analysts, and tech leads

on the project. So this is just an example of how you could provide information about solution description. Or even more also could be the form of solution description presentation when you

provide to your customer some kind of simple flow, how you should interact with your APP. This is a case about some kind of APP that provide the proposal or help with close or your

outlets combination for everyday usage. In that case, you're going to propose the solution on

a lab on general level of the product, yeah, on general level of the product usage. As you can see, with a help of visualizing the whole flow of this solution, this solution usage. As you can see, we have for each block, for each step, we have some short information how we're going to realize

that. It also could be the way. And for example, another case, let's come back to our APP that help us to find the right place to eat the tasty and useful or valuable food for us.

So healthy food for us, yeah. Also could be visualized with by example of some flow description. This is a general information that can help our

development team to understand what should be done and engage our stakeholders on emotional level, on logical level, on actions level to interact with us, to think about our proposed product or product idea. And when you want to visualize your solution and validate this information with the

team, this is a right time to think about business model creation. And again, we have a very popular tool right now in product management area, the business model canvas.

What is that? This is a strategic management template used for developing new business models and documented existing one or documented existing one. This model offers the visual chart with elements describing a firm or products value proposition, infrastructure, customer finance,

existing businesses to align their activities by illustrating potential trade-offs. So how this model looks like right now, this is some kind of quadrant that is divided into

different parts. As you can see, we have right now nine parts in that quadrant. You can start actually to fulfill this business model canvas from any of these parts, but

we highly recommend to you guys to fulfill this part in the next order. Key partners, key activities, key resources. The next point, the next three parts should be

fulfilled on the second step. Customer relationships, customer segments and channels distribution. On the third step, you should use information collected before and you need to fulfill the value proposition segment. And only after that, on the fourth step, you will add some

additional information about the cost structure, revenue streams. Also, as a product manager, you could pre-field this business model canvas, but generally you need to align this vision with your helpers, with your stakeholders. You need to validate a lot of information to fulfill these

blocks of the model in a quality manner. So you need to align this vision with your development. After the step of creation of business model vision for your new product, you need to think

on the next step about the go-to-market strategy or GTM. So go-to-market or GTM strategy is a step-by-step plan designed to bring a new product to market and drive demand.

What kind of steps we need to have in our practice or we need to cover in our practice to crafting our go-to-market strategy? The first step, identify the problem. Yes, we should take this information from previous steps or from previous artifacts that we created before.

Define the target audience the same. Research competition and demand the same. Decide key messaging, map buyer's journey, pick marketing channels, create a sales plan, set constant goals, and create clear process. And how you should visualize this information

and visualize this information in practice. So as you can see, we have a business model example, and we have some kind of main accents about the revenue streams. B2B portal

in APP reservations, advertising. Also, we can provide information about pricing. For example, three blocks, as you can see, the main accents and short information how.

And also, we could combine different way to provide the big bunch of information in very laconic form. So you can see in the bottom part of this slide our road map and the progress,

how we go into the market, how we should expand our product at the market. And we have some kind of accents in the top part of this slide. One by one, you're going to cover each step of go-to-market strategy. And for each step, you should create some kind of artifact.

When you understand what kind of actions you need to do to make alive your go-to-market strategy, please don't forget to create the product roadmap because you have a lot of thoughts about the

product functionality. You have the vision on product functionality. You have understanding of product idea. So this is right time to think about the product roadmap creation.

And what is the product roadmap? Product roadmap is a shared source of truth that outlines the vision, direction, priorities, and progress of a product over time. And it's a plan of action that align the organization around short and long-term goals for the product or project and how they will

be achieved. Simple form to visualize the product roadmap to make, to use the fishbone diagram or these diagram variations. We have MVP release one, release two, release three, release four.

We have some kinds of our functionalities that should be developed in each release. And we have some kind of marketing strategy KPIs that we expect to cover from step to step.

Also, you can use actually not only fishbone diagram in that exercise. You can build the simple roadmap in table form as well. As you can see in the first column, we have some kind of feature list. And in the next columns, we need to divide this feature list into different

kind of releases. For example, pre-MVP, MVP, release one, release two. So it's also could be really good way to visualize this data and to provide in laconic form and very clear, owner-understandable way this information to our stakeholders.

Again, some kind of variance of product roadmap visualization. In the left part, classically, we have the features list, we have MVP features list, and we have the next, for example, iteration

features list. And also, please don't forget, not only visualize the product roadmap somehow, but also don't forget to describe for your customers, for your product development team, key features. You can do that in a funny form, as you can see on the screen. Please be creative,

please provide short explanations. And when you're going to present the key features list or key feature slide to your customer or product development team. For sure, for product development process, you need to provide the better description of features,

but to think about the whole picture or holistic picture, you need to use some kind of a simple form to understand what is the main description or key features you have,

or you use for your roadmap. And when you create the roadmap, on the next step of our product strategy, the composition, we need to think about the KPIs, key performance indicators,

and what KPIs means. So they are quantifiable measures of team's progress toward a goal. For product management, KPIs typically involve the success of product features in the reactions

of customers and the expenses and revenue of products. So KPIs is always about the numbers or quality that we need to know and we need to use in our product development practice. Simple idea, how we should visualize this information. For sure, we need to use the

infographic and we need a way of visualizing the data or dashboard way of this data visualization. And as you can see, we have combined, we combined a couple of methods in the left part of this

slide or this dashboard. You can see just main KPIs, for example, that are visualized with simple forms. And for example, in the right part, we have some kind of a KPI related

to target user growth process, and we have the graph. So don't forget about KPIs and you need defined your specific KPIs for your product based on your current project information. Also some kind of form, how you can combine the visual data with some kind of layers,

pictures, et cetera. And I think that is all about this fourth part of product management course.

You see the flow that we were covered together during this lecture. So you know the steps of product strategy, vision decomposition, and implementation. We're going to review product development process in Laconic and just appropriate form. So

see you there. Thank you so much for your attention.

Thank you.