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Understanding your target audience is crucial for effective product management. It allows you to tailor your product to meet the specific needs and preferences of your audience, thereby increasing its appeal and marketability. It also helps in making informed decisions about product features, pricing, and marketing strategies. For instance, if your target audience is young adults, you might focus on features like modern design and tech-savviness. Conversely, if your audience is older adults, you might prioritize features like ease of use and accessibility. Furthermore, understanding your audience can help you anticipate future trends and adapt your product accordingly.
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As a product manager, how do you build a product in the first place? You first need to know who your customers are. When Apple launched the Apple Watch Series 3 in 2017, its target audience had a 55% focus on the 25-44 age range. But when Apple launched the Apple Watch Series 4, it went after adults between the ages of 44 and 54. Why the change? The product managers had a different target customer in mind...
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Does your product management process feel like it's lagging behind with the wrong tools? Our Product Management Toolkit collection includes some of th...