Strategy questions are not new in big organizations like Google and Amazon. One example of such a question is – “What change or step would you implement if you were the CEO of Google?”. Such questions might give you pain. But here is the good news: If you know the approach to answer the questions, it will become a piece of cake for you.
The further article will uncover the ways to crack the product strategy interview question in any product management organization. Let’s get started.
Decide On The Business Objective – Many candidates tend to skip this step. They start answering the questions without deciding on the objective and hence in an unstructured way. Interviewers mark this as a red flag. Most of the time, you might have seen that strategic questions are ambiguous. This is the reason for their difficulty level.
So, the first step to giving the correct answer is to listen carefully and confirm with the interviewer that you have understood the questions correctly. The interviewer will happily clarify your doubts in the beginning. But if they notice that you have started answering the questions regardless of understanding them completely, they will get a negative impression of you. Thus, set the business objective and try giving as clear answers as possible.
Look For The Solutions – After deciding the business objective, start looking out for the solutions to fulfill that objective. To do so, create a structure and find the solutions within that structure. Many candidates skip the step of creating structure, which they should avoid. At the time of brainstorming, people usually get distracted by ideas that do not support the business goals. Thus, establishing a structure keeps your brainstorming in accordance with the objectives.
Discuss The Solutions – This is the step where the interviewer will ask you about the practical solutions to the problems. Whether they do that or not, you should mention the solutions with the help of highlighting trade-offs. For example – Your interviewer might ask you to delve deeper into the measures of increasing prices.
The other part of proposing the solutions is to prioritize the things in order. You can discuss or recommend the solutions on the basis of the opportunity they had to offer. Be ready for the cross-questioning as the solutions you will provide will depend on the assumptions and judgment. But at the same time, the main focus of your interviewer is on your thinking abilities. Therefore, prioritize the solutions with sound logic, and you will be good to go.
Conclusion – Lastly, rewind the initial question and recapitulate your suggestions. The product manager NYC believes that recapitulation clearly denotes that you have finished answering the question and you are effective with communication skills. Ensure to make a recommendation and emphasize the risks and next steps that could be taken to avoid the problem.
How To Practice The Product Strategy Questions?
Professionals recommend a four-step approach for practicing the product strategy questions –
Research About The Company To Which You Are Applying – Collect the information about the company you are interested in getting a position. Study the products and target market of the company if you are applying to a specific team. Look for useful reviews and descriptions of the products and press releases. This process will help you face the company with more confidence.
Learn How To Answer The Questions Effectively – Use the steps as mentioned above to answer the product strategy questions effectively, like deciding the objective, generating solutions, and so on. You can also try to solve some sample questions on a piece of paper before going for an interview. It will help you a lot when it comes to understanding the structure of a good answer. Do not forget to apply these techniques in the actual interview also. Just knowing them is not enough.
Practice And More Practice – One of the most fantastic ways to excel in the interview is to practice out loud with yourself or with your peers. It helps build your confidence and communication skills when you face the actual interview. Your peers can help you in taking up your mock interview, especially if they are familiar with the process of PM Interviews.
Practice With Experienced Professionals – If you know an experienced Product Manager, it is like icing on the cake. You can practice with them and hit the bull’s eye in your actual interview.
To Sum It Up!
It is needless to say that a Product Manager forms a crucial part of every organization. And the points as mentioned above clarify the ways with which you can crack the product strategy interview questions.
If you still have any questions about Product Management or Product Manager interviews, Palarino Partners will be more than happy to answer you. We build world-class Product Management teams to make your organization reap the maximum benefits. Feel free to contact us for more information.