Market Research & Customer Discovery Flashcards
6 cards from real Product Management Certification Program practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Market Research & Customer Discovery flashcards as text
What is the difference between qualitative and quantitative research in product discovery?
Answer: Qualitative explores the 'why' through rich insights; quantitative measures 'how many' through data
Qualitative research (interviews, observation) provides deep understanding of user motivations and behaviors, while quantitative research (surveys, analytics) measures patterns at scale.
What is a 'persona' in product management?
Answer: A fictional representation of a target user based on real research data
A persona is a research-backed, semi-fictional character representing a key user segment, including their goals, behaviors, frustrations, and context.
What does 'SAM' stand for in market sizing?
Answer: Serviceable Addressable Market
SAM (Serviceable Addressable Market) is the portion of TAM that a product can realistically target given its current business model, geography, and capabilities.
In an interview, what is a 'leading question' and why should it be avoided?
Answer: A question that suggests the desired answer, which introduces bias and invalidates insights
Leading questions embed the expected answer, causing users to confirm the interviewer's assumptions rather than share honest opinions, which undermines discovery validity.
What is the 'Five Whys' technique used for in customer research?
Answer: Repeatedly asking 'why' to drill down from a symptom to the root cause of a customer problem
The Five Whys is a root cause analysis technique where asking 'why' repeatedly (typically five times) uncovers the underlying cause of a problem rather than addressing symptoms.
What is 'churn rate' and why does it matter for product managers?
Answer: The percentage of customers who stop using the product in a period; it signals unmet needs or poor retention
Churn rate measures the percentage of customers who leave the product in a given period, serving as a critical indicator of whether the product is delivering sufficient ongoing value.