Day3&4- Product lifecycle,AgileSCRUM and User research.
Product Lifecycle
Ever wonder what happens to a product once it enters the market? The product lifecycle contains the solution. It’s a theory that describes the numerous phases a product experiences, from its conception to its eventual demise.Every product goes through a lifecycle, similar to a journey, and it’s crucial for organizations to comprehend this lifecycle so they can choose their products wisely. Let’s examine the phases of the product lifecycle in more detail.
The introduction phase of a product is an exciting time for both the business and the consumer. It involves building awareness and creating demand for the product, which is done through marketing and advertising. The growth phase follows, where sales increase and the business starts to see a return on its investment. The maturity phase follows, where the product reaches its peak in terms of sales and market penetration. Finally, the decline phase occurs, when sales start to decline and the market becomes oversaturated with similar products. The business may need to make tough decisions about whether to invest in the product to revive sales or discontinue it altogether.
Here are some examples of software products in different stages of their product lifestyle:
Introduction phase — Releaf
A Nigerian agtech business that use software to aid the nation’s farmers in raising production and earnings. Releaf has created an online platform to help farmers connect with buyers and get advice on how to make their products better.
Growth Phase- Opay
Opay debuted in Nigeria in 2018 before spreading to other African nations. The company’s user base, income, and service offering have all increased quickly. Opay provides services including ride-hailing, food delivery, and mobile airtime top-ups in addition to processing payments.Despite being a relatively new business, Opay has already made a name for itself in Nigeria’s fintech sector.
Maturity Phase- Microsoft office
A decades-old, widely-used set of productivity tools that is utilized by millions of people worldwide. Although it continues to receive updates and upgrades, its growth has significantly slowed.
Decline Phase- Nairaland
An early 2000s-era prominent Nigerian online community that has lost some of its following as social media sites like Facebook and Twitter have grown in popularity.
Solutions to this decline-
Nairaland could benefit from a redesign to make it more visually appealing, easier to navigate, and more mobile-friendly. It could also embrace social media integration to allow users to log in with their social media accounts, share content from Nairaland to their social media profiles, or comment on Nairaland threads. Additionally, it could expand content offerings to cater to users who prefer video or podcasts. @Nairaland there are more opinions and ideas that can will be shared and worked on to improve the use of the product👀 if you contact me.
Moving on, day 3 we also explored the AgileSCRUM framework.
This is one of my best topic in Product management. Why is this so??? I’ll tell you.
The Agile methodology is basically what most people use to navigate their daily life. I am a waterfall person in life navigation but there is always a reason for you to continuously check on an issue or double task even at your own pace to prevent any kind of loopholes.
The Agile methodology is used to help businesses respond to unpredictability based on iterative development. Here, solutions evolve through collaboration between self organizing cross-functional teams.
The SCRUM framework is a known variation of Agile. What does this framework entail??
Adopted in the 1990s, Scrum is designed to be flexible and adaptable to the needs of each project. It allows teams to respond quickly to changing requirements and market conditions and helps ensure that the team is working on the most important features and requirements first.
It consists of Roles, artifacts and ceremonies.
The Product Owner is responsible for defining and prioritizing the product backlog, while the Development Team is responsible for designing, building, and testing the product. The Scrum Master is responsible for facilitating the process and removing obstacles. Artifacts include the Product Backlog, Sprint Backlog, Increment, Sprint Planning, Daily Scrum, Sprint Review, and Sprint Retrospective. Ceremonies include Sprint Planning, Daily Scrum, Sprint Review, and Sprint Retrospective.
Understanding the Users
A customer and a user are two different things.
I just realized today that I’ve been a user of the Call of Duty mobile app and not a customer. Strange yea??
I make use of the app, I download resources and make updates that’s what a user does but what I do not do is to make in-app purchases and that is what a customer does😂. So if you have a Netflix account and you are not the creator or the one paying then you are just a user of Netflix and not Netflix’s customer. Wild.
So a user is one who uses a product to meet a need that they have while a customer is anyone who buys a product. A customer may not interact with the product while a user will make interactions with the product.
Users are important tools in any product development act. They are the reason as to why you conceived that product. You are making that product to make their lives easy.
So to that you’ll need to know what they want and this can be done through research .
There are two User research Methods: Quantitative(numerical responses) and Qualitative(Specific responses).
And to get these responses there are lots of ways to go about it.
One can conduct surveys or make a questionnaire. You can also interview users or create a focus group. Usability testing, online research and A/B testing helps too.
😊😊✨
My team conducted a Product Teardown on PiggyVest.
