Example 1: Case Study for PM Interview

Background: Imagine you are the Senior Product Manager at a leading e-commerce company, XYZ E-Commerce. The company is facing a significant challenge: customer retention rates have been steadily declining, and the executive team is concerned about the long-term viability of the business. The CEO has asked you to lead a cross-functional team to improve customer retention. You have the full support of the executive team and access to necessary resources.

Your Task: Your first task is to develop a high-level product strategy to address this issue and present it to the executive team. In your presentation, you should cover the following key points:

1. Problem Statement: Clearly define the problem of declining customer retention rates and its impact on the business.
2. Market Research: Describe the research methods you would use to gain a deep understanding of customer needs, preferences, and pain points. Explain why this research is crucial.
3. Competitive Analysis: How would you assess the competitive landscape in terms of customer retention strategies? What can you learn from your competitors?
4. Goals and Metrics: Outline the specific goals you would set for improving customer retention and the key performance indicators (KPIs) you would track to measure success.