10 Popular Product Frameworks - A brief guide

Metadata

• URL: https://medium.com/@dikshapatrob/10-popular-product-frameworks-a-brief-guide-66494bdc7537
• Published Date: 2022-07-27
• Author: [[Diksha Patro B.]]

North Star Metric

A product can have more than 1 North Star Metric.

critical purposes of NSM

• Clarity and Alignment on what to optimize for
• Communicate impact and progress to the rest of the team.
• Holds product accountable to an outcome.

Two main parts

• Product vision statement.
• The key metric that serves the current product strategy.

Jobs to be Done (JTBD)

• “Job” → Goal of an individual in a given situation.
  • Three parts 1. When (situation). 2. I want to (motivation). 3. So I can (expected outcome).
• Jobs getting done
  1. The Core Functional Job.
  2. Related Jobs.
  3. Emotional Jobs.
  4. Consumption Chain Jobs.
  5. Purchase Decision Job.

First Principles

• Source(s): blackboxofpm

  Principle A

  Develop product strategy on 3 inputs:

  1. What the real goal is?
  2. What environment around them is signaling (market+customer signals)?
  3. What people, money, and time constraints exist?

The Hook Model

Three core motivators of a behavior:

1. Avoiding pain and seeking pleasure.
2. Avoiding fear and seeking hope.
3. Avoiding social rejection and seeking social acceptance.

Hook Model

AARRR (Pirate Metrics) — Product Analytics

• Acronym for five user behavior metrics.
• Also known as Pirate Metrics User behavior metrics to be tracked:
  1. A — Acquisition (How do users find you?).
  2. A — Activation: The core value of the Product is tested (Do users have a great first experience?).
  3. R — Retention (Do users come back?).
  4. R — Revenue (How do you make money?).
  5. R — Referral (Do users tell others?).

HEART - UX and Product Decisions

Categories of HEART framework:

1. H for Happiness — Measures user attitudes like Net Promoter Score, Satisfaction, etc.
2. E for Engagement — Measures the level of user involvement like frequency and intensity.
3. A for Adoption — Measures the rate at which new users join a product or feature.
4. R for Retention — Rate at which existing users return to a product or feature.
5. T for Task Success — Measures user experience behaviors like efficiency, effectiveness, and error rate.

RICE Scoring Model— Prioritization

Four factors: Reach, Impact, Confidence, and Effort.

R — Reach:

1. Answering — How many people each project will affect in a given time period?
2. To avoid bias.
3. Measured using the estimated number of events/people per time period.
4. Use reach measurements.

I — Impact

1. To beat the tangled mess of gut feeling.
2. Measured using impact on an individual person.

Scoring 3 = massive impact 2 = high impact 1 = medium impact 0.5 = low impact 0.25 = minimal impact

C — Confidence

1. To curb enthusiasm for ill-defined ideas.
2. Answering — How much support do you really have for your estimates? Scoring 100% = high confidence 80% = medium confidence 50% = low confidence nil = moonshot

E — Effort

1. Measured in person months.
2. Measures the work that a person can do in a month.

MoSCow Prioritization

M — Must-have

Non-negotiable product needs that are mandatory for the team.

S — Should-have

Important initiatives that are not vital, but add significant value.

C — Could-have

Nice to have initiatives that will have a small impact if left out.

W — Will-not-have

Initiatives that are not of priority for this specific time frame.

CIRCLES - Product Design

C - Comprehend the situation

I - Identify users

R - Report Customer Needs

C - Cut through prioritization

L - List solutions

E - Evaluate Tradeoffs

S - Summarize recommendations

STAR/SOAR - Storytelling

• For creating a meaningful story of a previous work experience.
• Tell stories about accomplishments in general.
• STAR — Situation, Task, Action, Result / SOAR — Situation, Objectives & Obstacles, Action, Result.

  S — Situation

  Lay out a situation and give the required details.

T — Task

1. Highlight the task and the responsibility given to you.
2. Mention any obstacles that you faced.

A — Action

1. How you took the action.
2. Mention important steps related to it.

R — Result

Discuss the outcomes and results of your activities related to the given situation.

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