Market Research and Customer Insights Flashcards

What is a 'Jobs-to-be-Done' (JTBD) framework?

Answer: A framework focusing on the underlying job a customer hires a product to accomplish

JTBD focuses on the functional, emotional, and social jobs customers are trying to get done, rather than on product features or customer demographics.

What does 'voice of the customer' (VoC) mean in product management?

Answer: A systematic process for capturing customer needs, expectations, and feedback

Voice of the Customer is a research process that captures customers' stated and unstated needs, expectations, and perceptions to guide product decisions.

Which metric measures how likely customers are to recommend a product to others?

Answer: Net Promoter Score (NPS)

Net Promoter Score (NPS) measures customer loyalty and likelihood to recommend by asking 'How likely are you to recommend us?' on a 0–10 scale.

What is 'market segmentation' and why is it important for product managers?

Answer: Dividing a market into distinct groups with similar needs to target more effectively

Market segmentation divides a broad market into groups with similar characteristics so product managers can tailor the product and messaging to each segment's specific needs.

What is 'ethnographic research' in the context of product discovery?

Answer: Observing customers in their natural environment to understand real behaviors and contexts

Ethnographic research involves observing users in their actual environments to gain authentic insight into behaviors that users may not articulate in interviews.

A product manager receives conflicting feedback: power users want advanced features, but new users find the product too complex. How should this be addressed?

Answer: Segment the product experience to serve both cohorts with tiered features or onboarding

Segmenting the experience with progressive disclosure or user tiers allows serving both new users' simplicity needs and power users' advanced needs simultaneously.