Ever wondered the best way to communicate with the customers of a business organization? The first thing, that comes into mind is effective marketing. If not this, you must have considered the popular brand ambassadors appearing in the TV commercials. However, the reality is far different from these. A business organization communicates with its customers through the products that it has developed. These are no less than the offerings of an organization to its customers and if properly analyzed and visioned, these have the ability to interact with a customer.
To put things into a refined form, products that an organization manufactures and/or procures to ultimately sell to its customers are the major determinants of a business organization and influence its success or failure. Thus, the produce of an organization needs to be properly managed and supervised in order to achieve efficiency and productivity in operations. A specialized professional, the product manager is entrusted with this task and aims to produce a product that satisfies the needs of the customers.
21 Best Interview Questions To Study
1. Explain Me The Technique Of Late Mover Advantage.
This question tests your knowledge and understanding of the various principles and concepts of marketing.
Sample Answer
Sir, late mover advantage is a widely used and preferred marketing technique in which business organizations play the role of a second fiddle when a new product is launched. For example, Product “A” is a fairly new product and is developed by an organization for the first time. Another business organization can simply wait for this product to achieve success and gain considerable customer attention. Post that, its own products can be launched. Thus, moving late, and during this period, analyzing the market conditions, is all about the late mover advantage.
2. Explain The Importance Of Understanding Of The Real Needs Of The Customers?
Customers play an important role in ensuring the success of an organization and are referred to as the king. Every business enterprise aims to expand their customer base and brand awareness. This question checks your core customer relationship knowledge.
Sample Answer
Sir, a product, whether new or improved, will only be successful in the market if it satisfies the real needs and wants of the customers. There are always some expectations of the customers in relation to the product, which must be understood with precision. Post this, efforts must be laid to develop a product having all the requisite features and dynamics.
3. How Beneficial Is Enhancing Brand Awareness Rather Than A Particular Product?
There are several business organizations, which prefer to market and improve the awareness of their own brand name, instead of an individual product. This question tests your knowledge and understanding of this particular aspect.
Sample Answer
Sir, business brands, like Apple, Google, Zara are quite renowned the world over and everyone is simply aware of them. Now, with such a high level of brand awareness, it would be quite easy for a customer to believe, that any product launch by them, would be of high quality, durability, and status. In such a scenario, an organization would be able to sell its products with minimal product advertising. Thus, improving brand awareness always pays off.
4. Explain The Improtance Of Time Utility.
Time utility refers to the round-the-clock availability of a product so that each and every customer desirous of purchasing it can have a piece of it. This is an important concept and this question would test you on this parameter.
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Sample Answer
Sir, time utility is necessary to ensure success. In order to achieve its benefits, an organization must strive to strategically enhance its production levels, so that it is never out-of-stock and the customers can buy it at times of their needs and convenience. This concept ensures that customers are able to buy their products at several points in time, such as:
- National holidays
- Peak season
- Adverse weather conditions, etc.
5. How Will You Make A Product For A Very Concise Target Group?
This question tests your knowledge and understanding of the various principles and concepts of product development.
Sample Answer
Sir, identification of the target group is an essential and primary requirement before initiating the development of a product. Having been the target group identified, it is now necessary to identify its need and wants, based on which, a product must be modeled. Since the group is too concise, the marketing expenditures must be kept on a lower side and considerable efforts must be laid on word-of-mouth advertising. Produce, Launch and Market, would be the three steps related to the product development in such a market.
6. What Is The Primary Intention Of The Product Managers While Working?
This is a tricky interview question, as there could be simply several intentions while working as a professional. These largely depend upon the missions and/or visions of the company, the directions from the management, and the personal mode of working of the managers. Just share a genuine response and avoid generic answers.
Sample Answer
Sir, there could be multiple intentions while being on work that are major influenced by a variety of factors, such as management decisions, expectations of the stakeholders, personal modus operandi, etc. However, in my opinion, there is one intention that is common and prevalent, and that is an expansion of the revenue earned by the company.
7. Pricing Plays An Important Role In Product Success. Explain Its Significance.
This question tests your knowledge and understanding of the various principles and concepts of pricing policies and strategies.
Sample Answer
Sir, I completely agree with this statement. Appropriate and strategic pricing is a determining factor in the success of a product. If a product is perceived to be too costly or too cheap by the customers then it will never be able to pick up sales in the market. There are various strategies associated with pricing such as skimming, product line pricing, penetration pricing, etc. that must be adopted on the basis of some determining factors.
8. Name The Three Best Software For Product Management.
This question tests your knowledge and understanding of the various product management software available in the market.
Sample Answer
Sure, sir, These are:
- Prodpad
- Jira
- Roadmunk
9. Share In Three Steps, How Will You Achieve Product Success?
This question tests your knowledge and understanding of the various principles and concepts of product development.
Sample Answer
Sure, sir, These are:
| Name of steps | Explanation |
| Identification of needs | To start with, the needs and wants of the customers must be identified. |
| Development of a product | Based on the identified needs, a product must be developed. |
| Marketing of the product | The developed product must be marketed so that the consumers are aware of the same. |
10. Share Some Of The Best Ways To Improve Sales.
This question tests your knowledge and understanding of the various principles and concepts of marketing.
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Sample Answer
Sir, sales is the essence for any business organization, without which, an organization’s products would just sit in the closet eating up dust and dirt. Some of the best ways are:
- Rebates and discounts
- Cashbacks
- Loyalty rewards
- Effective need-based marketing
11. Being A Product Manager, You Will Perform Several Business Tasks In A Single Day. How Will You Manage?
Through this interview question, an interviewer wants to know about your prioritization techniques and strategies. There are several strategies such as arranging the tasks on the basis of difficulty level, time consumption, or on the basis of yields, whatever it is, just share the strategy with your interviewer.
12. The “Quality” Of All Business Processes Must Be On The Higher Side. What Do You Infer From “Quality” Here?
“Quality” is a corporate-friendly word, which is used to frame several interview questions. This word, like every other, is open to several interpretations and inferences. Through this question, an interviewer wants to know about your own understanding and interpretation of this word. Be genuine and share a logical answer.
13. What Is Your Preferred Mode Of Working – Team or Alone?
This is a tricky interview question and no matter what side you choose, there will always be counter questions and assumptions in your regard. If you prefer teamwork, then this means you can not work alone and on the other hand, if you prefer working alone, you will be thought of as a person, incapable of maintaining harmony or good rapport with his or her colleagues. However, you are required to choose one option, so do it and try to convince your interviewer with your communication skills.
14. If You Were An Animal, What Would You Be?
This is a trending interview question and is now gaining a lot of popularity. This is a master evaluator and has the ability to assess your personality and approach considerably. This question requires you to have additional knowledge in regards to the various corporate-friendly animals and then align their characteristics or attributes with the requisite qualities. To prepare perfectly, analyze the job description issues by your employer and note down the relevant findings.
15. It Is Common For The Products To Fail. How Do You Handle Project Failure?
Managers experience failure, it is quite common. However, what is uncommon and not that much discussed is the devastating impact of failures on human minds. These not only crush your confidence level but also affects your performance to a greater extent. Handling failures effectively is a common expectation of business organizations and you are required to answer this question positively. Do share your own strategy and try to avoid all the generic answers.
16. A Product Manager Is Often A Key Position. What Is Unique In You?
This question is just another variation of, What can you offer us that someone else cannot? As an ideal response, please share your best attributes and strengths which are in line or aligned with the desirable qualities that can be inferred from the job description.
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17. When Can You Start Working With Us?
Through this question, an interviewer wants to know about your availability. It is true that immediate starters are always preferred, but we advise you to share the true date of your start. Further, always note that this question in no way guarantees your selection, hence, maintain your focus and try giving a perfect reply.
18. Describe Your Best Boss and Worst Boss?
During our entire professional career, we work with a variety of different business organizations and meet so many seniors or bosses. Some remain in our good books, and honestly, some not. Through this question, an interviewer wants to know, about all the worst and best bosses that you have encountered till now.
19. What Are Your Salary Expectations?
The best way to answer this question is by sharing the salary expectations in a bracket form, which must be based on some detailed and diligent market research. Prepmycareer advises to never share any random salary figure, as this can seriously deplete your selection chances.
20. Why You Chose Us?
Through this question, an interviewer wants to know about your level of commitment and seriousness towards the business organization. The best source to prepare for this question is the official website of the company, from where relevant facts and achievements of the company can be noted. Couple these notings with your own personal interests in the company and draft a compelling response.
21. Do You Have Any Questions For Us?
If you ever encounter this interview question, be assured that your opportunity has ended. This question would mark the end of your interview session and after attending this question, you can go home. Thus, it could also be perceived as your last opportunity to impress your interviewer. You can always ask a few relevant questions related to the organization, its working culture, policies, rules, etc. on these lines:
Model Questions
- What are the various policies and allowances offered by the company to its employees?
- Is it the policy of the company to offer paid leaves to its employees, especially maternity/paternity leaves?
- Please share the training and developmental opportunities extended by the company to its employees.
References
- https://www.tandfonline.com/doi/abs/10.1080/21670811.2021.1912622
- https://link.springer.com/article/10.1057/s41291-019-00091-1
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Sandeep Bhandari is the founder of PrepMyCareer.com website.
I am a full-time professional blogger, a digital marketer, and a trainer. I love anything related to the Web, and I try to learn new technologies every day.
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