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SWOT analysis and Porter's five forces are strategic tools used in PM interviews to evaluate a product or a business. SWOT analysis helps to identify Strengths, Weaknesses, Opportunities, and Threats related to the business or product. It's used to understand the internal and external factors that can affect the success of a product or business. Porter's five forces, on the other hand, is a tool used to analyze the competitive environment in which a product or business operates. It looks at five key areas: the threat of new entrants, the bargaining power of buyers, the bargaining power of suppliers, the threat of substitute products or services, and the intensity of competitive rivalry. These tools help PM candidates to structure their responses during interviews by providing a framework to assess and strategize around a product or business.
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PM interview case questions can lead you astray because they are dangerously similar to consultant case questions. Unlike case interviews where consultants will be asked to solve organization-scale problems based on data, interviewers expect PM candidates to solve product questions through reliance on their product instincts. PM candidates must make sound business decisions in the absence of detailed data. Use management frameworks like the 4P's, SWOT analysis and Porter's five forces to structure your response.
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How do you ace one of the toughest job interviews there is? When you apply to be a Product Manager, you will be asked to make sound business decisions...
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What’s the best way to turn business challenges into strategic opportunities? With a structured case study, consultants and project teams can follow every decision-making point from discovery to outcome. This Case Study Template to tackle any project and also prove your impressive track record to future clients.
Use our compilation of commonly used Consulting Frameworks to better structure your analysis and communicate the most suitable recommendations. This deck is useful to consulting professionals, as well as anyone who is curious about problem-solving and eager to develop solutions.
Does your product management process feel like it's lagging behind with the wrong tools? Our Product Management Toolkit collection includes some of the top tools that major companies like Apple, Amazon, Spotify and TikTok use to manage their products. See how these companies target customers, position their product’s value, determine when a product is ready to launch, and use strategic viral loops.
How do you take your product management to the next level? Due to popular demand, we've expanded our Product Development Toolkit to include more tools and frameworks from how to create a price sensitivity matrix, define your total addressable market, conduct a cost benefit analysis, prioritize your ideas with MoSCoW, and make use of a Kano diagram to launch successful products.