Product Management Overview

 Product management is a role present in most tech companies

today, but its roots can be traced back to the early days of
business.
 The role involves guiding a team to discover, develop, and
deliver the right product to users while bridging the gaps
among different stakeholders.
 The product manager is responsible for ensuring the success of
a product.
The "Job" of a Product Manager
 Listening to customers is a fundamental trait of a product
manager. Understanding both stated and unstated needs is
essential for solving customer problems effectively.
 While listening is crucial for understanding problems, the
product manager's job is to manage the solution, ensuring its
quality and relevance.
 Prioritizing solutions is a critical step, considering factors like
impact, feasibility, revenue generation, and effort required.
Formal Roles and Responsibilities
 Market research is essential to understand customer
requirements and industry trends.
 Product managers define the product vision and strategy,
aligning them with the company's vision.
 Ideation involves coming up with innovative ideas to address customer needs.
 Product design and execution aim to provide a customer-centric, innovative product.
 Collaboration with the marketing team is necessary to create marketing strategies.
 The product manager coordinates the product launch and measures its success using various metrics.
Traits and Challenges of Being a Product Manager
 Essential qualities for a great product manager include strategic thinking, decisiveness, empathy for
the customer, leading through influence, and excellent communication skills.
 Challenges include handling various demands and opinions from different teams, maintaining a
balance between technical and business aspects, and managing an unruly team.
Key Performance Indicators (KPIs)
 Product managers use KPIs to measure their performance and prove the success of their product.
 Examples of KPIs include monthly revenue, on-time delivery, product quality, customer counts,
stickiness ratio, customer retention, and customer satisfaction score.
Product Management Vs Project Management
 Product managers are responsible for a product's success, defined by KPIs, while the method to
achieve success is flexible.
 Project managers are responsible for accomplishing a project within defined constraints, such as time
and budget.
Types of Product Managers
Tech Product Manager
 Focus on "WHY" and "WHAT" of product development, leaving the "HOW" to engineers.
 Advantages include gaining trust and respect of engineers and effective collaboration.
 Examples: Elon Musk, Marissa Mayer.
Designer Product Manager
 Strong emphasis on design, aesthetics, and understanding future consumer needs.
 Advantages include empathizing with customers and recognizing unstated design goals.
 Examples: Steve Jobs, Brian Chesky, Joe Gebbia.
Business Product Manager
 Well-versed in business, finance, and operations.
 Effective communication and ability to see the bigger picture are key skills.
 Examples: Ken Norton.
Data Product Manager
 Focus on data-driven decisions, especially in the context of AI and ML.
  Advantages include analytical skills and understanding business through data.
 Examples: Sebastian Thrun.
Growth Product Manager
 Solve various problems related to generating demand or supply.
 Strong with data and communication skills.
 Advantages include making a significant impact, but challenges may arise from prioritization and quick
experimentation.
 Examples: Chamath Palihapitiya.
Expectations from Companies
 Amazon expects PMs to be excellent planners, develop long-term plans, have analytical skills, and
focus on customer service and empathy.
 Microsoft values analytical skills, a focus on technology, and
the ability to solve customer problems with a clear
understanding of the big picture.
 Paytm emphasizes product development strategy,
technology, and innovation, as well as effective
communication.
 Flipkart looks for competencies in product thinking,
problem-solving, leadership, domain and tech knowledge,
and execution excellence.
 Sprinklr expects PMs to be client-focused.
 Media.net seeks analytically sound PMs with a good
understanding of the advertising industry and its value
chain.
 Adobe values creativity, storytelling ability, industry
knowledge, and the role of PM as a bridge between various
functions.

Agile principles and practices:

Waterfall Model:
 Linear and sequential approach to software development.
 Phases don't overlap, and each phase begins
only after the previous one is complete.
 Suited for small, less complex projects with
clear goals and minimal expected changes.
Agile Methodology:
 Iterative and time-boxed approach,
delivering software in increments.
 Emphasizes collaboration between self-
organizing cross-functional teams.
 Enables quicker responses to customer
needs, enhances quality, and improves
predictability.
Agile Manifesto:
 Values people over process and tools.
 Prioritizes working software over comprehensive
documentation.
 Promotes customer collaboration over contract
negotiation.
 Favors responding to change over following a plan.
Agile Principles:
1. Early and continuous delivery of valuable software.
2. Welcome changing requirements, even late in
development.
3. Individuals and interactions over processes and tools.
4. Deliver working software frequently.
 5. Daily collaboration between businesspeople and developers.
6. Build projects around motivated individuals.
7. Face-to-face conversation is the most effective way to convey information.
8. Working software is the primary measure of progress.
9. Promote sustainable development.
10. Pay attention to technical excellence and good design.
11. Maximize the amount of work not done.
12. The best solutions emerge from self-organizing teams.
13. Regularly reflect and adjust behavior for effectiveness.
Agile Best Practices:
 Iterations for learning from previous phases.
 Customer-oriented approach and transparent
communication.
 Product backlog based on business priorities.
 User stories for breaking down work.
 Value stream analysis for defining product.
 Timeboxing for time management.
 Continuous integration and test-driven development.
A few Agile Frameworks:
 Scrum: Driven by five values and roles including product
owner, development team, and scrum master.
 Kanban: Uses a visual board to represent task statuses, helping to avoid bottlenecks and track
progress.
 Extreme Programming (XP): Suitable for frequently changing requirements and includes a set of
engineering practices.
Design Thinking process and Heuristics for User Interface Design:
Design Thinking Process:
Define Users:
 Identify and understand the users, their
needs, goals, and frustrations.
 Develop user personas, which represent
the needs of user groups.
 Types of Personas: Primary, Secondary,
Supplemental, Customer, Served, Negative.
Define Problem Statement:
 Clearly articulate the problem to be solved.
 Example: "Low customer satisfaction due
to inadequate tools for tasks A, B, and C."
Research and Insights:
 Collect qualitative data, organize insights, gaps, and pain points.
 Collaboratively analyze the data as a team.
Develop User Personas:
 Map user behavioral variables and characteristics.
 Synthesize goals and behavior patterns for each persona.
Ideation and Opportunity Areas:
 Generate ideas, segment opportunities for further study, identify problems, and uncover similarities
among problems.
Prototype and Test:
 Create prototypes to visualize ideas and gather feedback through testing.
Implement:
 Collaborate with developers for product development based on the prototype.
Heuristics for User Interface Design (Nielsen and Morich's Principles):
1. Visibility of System Status: Keep users informed about system processes with appropriate feedback
(e.g., loading indicators).
2. Match Between System and the Real World: Use familiar language and conventions that match the
user's mental model (e.g., consistent use of icons).
 3. User Control and Freedom: Provide an emergency exit option to allow users to correct mistakes (e.g.,
undo and redo).
4. Consistency and Standards: Maintain consistent terminology and design throughout the system (e.g.,
uniform use of terminology and conventions).
5. Error Prevention: Design the system to reduce error-prone conditions and confirm inputs before
actions (e.g., password validation).
6. Recognition Rather Than Recall: Minimize cognitive load by making actions and alternatives available
(e.g., autocomplete in search).
7. Flexibility and Efficiency of Use: Accommodate both novice and experienced users (e.g., shortcuts for
experts).
8. Aesthetic and Minimalist Design: Present relevant information upfront and avoid clutter (e.g., use
'view more' links for additional details).
9. Help Users Recognize, Diagnose, and Recover from Errors: Provide helpful error messages that
explain the issue and suggest solutions.
10. Help and Documentation: Offer user-focused
documentation that is easy to search and focused on
user tasks.
Artificial Intelligence (AI) and Machine Learning (ML)
Introduction:
 Over the past decade, technology and computing,
including AI and ML, have significantly evolved and
disrupted various industries.
 Traditional businesses had to adapt to technological
changes to stay competitive.
 In 2019, technology firms dominated the list of the most
valuable companies.
 The exponential increase in data generation offers a
competitive advantage.
Why AI and ML Are Relevant for Product Managers:
 A product manager is often referred to as
the "CEO of a product" and is responsible
for improving existing products and
developing new ones.
 Understanding AI and ML tools is vital for
product managers to leverage these
technologies effectively.
Definition of Machine Learning:
 Machine Learning allows a computer
program to learn from experience and
improve its performance on specific tasks.
Business Objectives vs. Technical and User
Preferences:
 There is a natural conflict between the
objectives of engineers, designers,
customers, and businesses.
 Product managers need to balance the trade-offs and benefits to meet the goals of various
stakeholders.

Types of Machine Learning:

 Supervised Learning: Making
predictions based on labeled data.
 Unsupervised Learning: Organizing
and describing unlabeled data.
 Reinforcement Learning: Maximizing
cumulative rewards by taking
actions.
Machine Learning Algorithms:
 Supervised learning algorithms: Decision Trees, Random Forest, Linear Regression, etc.
 Unsupervised learning algorithms: K-Means Clustering, Principal Component Analysis
 Recommender systems:
Collaborative Filtering, Content-
Based, Knowledge-Based.
Recommender Systems:
 Recommender systems are
essential for companies like
Netflix, Amazon, and more.
 They help users discover
products or content they might
like.
 Types of recommender systems
include Collaborative Filtering,
Content-Based, and Knowledge-
Based.

Deep Learning and Neural Networks:

 Deep neural networks have
multiple hidden layers for
feature extraction.
 Neural networks aim to mimic
the human brain's learning process.
 Deep learning is used in various applications, including image and speech recognition.
Generative Adversarial Networks (GANs):
 GANs involve two neural networks, a
generator, and a discriminator, that
compete with each other.
 They are used in creating fake images and
detecting their authenticity.
 GANs have been used in various
innovative solutions, such as self-driving
cars and sentiment analysis.
Framework for Product Managers:
 To apply AI and ML to a product, product
managers should consider factors like the
product's goal, integration of ML,
benchmarking, rate of change, and user interactions.
Introduction to AR and VR:
 AR aims to enhance real-life
experiences by overlaying
digital content on the real
world.
 VR creates a completely
immersive simulated
environment for users, aiming
to engage all senses.
 High-quality graphics are crucial for a convincing VR experience, which demands substantial
computational power.
Popular Products & Brands:
 AR applications include products like "Pokémon Go" and IKEA's AR feature for visualizing furniture in a
real setting.
 AR hardware includes "smart glasses" by brands like Google, Epson, and Toshiba.
  VR products encompass both hardware (headsets) and software. VR headsets are categorized into
three types, each with a different source of computational power.
 Prominent VR headset brands include Sony PlayStation, HTC Vive, and Facebook's Oculus.
Pricing and Product Features:
 AR devices are designed for extended use and prioritize features like lightweight design and long-
lasting batteries.
 VR devices are intended for shorter usage durations and have heavier weight and shorter battery life.
 AR devices tend to be more expensive, with pricing around $1500 for products like Google Glass.
 VR devices offer a broader price range, starting at $120 and going up to $600-700.
How AR Works:
 AR relies on computer vision, which involves understanding the content of a live video stream.
 The process includes feature extraction from labeled data in the training phase and classification in
the testing phase.
 AR requires real-time processing of video frames, which is feasible due to modern processors'
capabilities.
How VR Works:
 VR uses a three-step process: Video transmission, display adaptation, and head tracking.
 Modern VR headsets offer a field of view of 100-110 degrees and require low latency (typically 50
milliseconds or less) for effective head tracking.
 Sophisticated tracking sensors and external cameras are used for enhanced tracking accuracy.
Industrial Application:
 AR and VR are increasingly applied in enterprises to improve productivity, knowledge transfer, safety,
and customer experiences.
 Examples include using AR smart glasses in supply chain operations, VR for car design, and
maintenance instructions through AR glasses.
 The industry is shifting towards software-based improvements and creating more content for AR and
VR applications.
 Product manager roles vary based on whether they are in customer enterprises (generic and
exploratory) or AR-VR manufacturing enterprises (more software-focused).
Industry Status and Growth:
 The AR-VR market is
expected to experience high
growth, with a projected
Compound Annual Growth
Rate (CAGR) of 77% for the
2018-2023 period.
 The industry is moving
towards software-based
improvements and exploring
enterprise-level use cases.
Definition of Big Data:
 Big Data refers to data that is
extremely large, generated
at a rapid pace, and is highly
complex, making it
challenging to process with traditional
methods.
 Advances in processing power, storage, and
cloud computing have made Big Data
accessible to organizations.
Characteristics of Big Data (The Three V's):
 Volume: Refers to the vast amount of data
generated.
 Velocity: Denotes the speed at which data is created and processed.
 Variety: Represents the diverse types of data, including structured and unstructured data.
Big Data Architecture:
  Big Data architecture typically consists of four layers: Sources Layer, Storage Layer, Analysis Layer, and
Consumption Layer.
 Data flows from the source layer to the consumption layer, where it's presented to end-users in visual
or dashboard formats.
Big Data Technologies:
 Big Data technologies can be
grouped into three main
components: Data Management,
Data Analysis, and Infrastructure.
 Data Management involves data
ingestion, storage, and
governance technologies.
 Data Analysis encompasses query,
batch processing, data stream
engines, and advanced analytics
tools.
 Infrastructure includes cloud
services like AWS, Azure, GCP, and
others.
Industry Applications:
 Big Data is used across various
industries, including Banking and
Financial Services, Retail, Healthcare, Media & Entertainment, Telecommunications, Government, ICT,
and more.
 It is employed for purposes such as fraud detection, customer analytics, disease management, and
content optimization.
Big Data and Product Managers (PMs):
 PMs can use Big Data as a crucial tool in the product development cycle.
 They can leverage data for customer understanding, problem definition, idea generation, prototype
development, testing, and continuous improvement.
 PMs should consider factors like user personas, analytics, data visualization, storage, multiple access
points, and security in their product development process.
Practice Case Study:
  In a B2B social media data analytics process, the steps include identifying data sources, capturing data,
processing data, presenting findings, and generating insights.
 This process is vital for firms like Sprinklr, which help businesses manage and analyze social media
data for insights and decision-making.
Internet of Things (IoT):
 IoT is a network of interconnected devices.
 It doesn't necessarily require internet
connectivity but often uses it.
 Considered the fourth stage of the industrial
revolution.
 Key drivers: artificial intelligence, big data
analytics, and internet connectivity.
IoT Tech Stack:
Device Hardware:
 Involves sensors and microprocessors.
 Sensors collect data from the environment.
 Microprocessors process the data for further use.
 Example: Sensors in a smart home that detect temperature and humidity.
Device Software:
 Includes the operating system and applications.
 Choice of the operating system depends on system complexity and data processing needs.
 Example: Linux used for IoT designs.
Communication Layer:
 Connects IoT devices using different types like Bluetooth, Wi-Fi, and cellular.
 Communication protocols define device interactions.
 Example: Wi-Fi-connected robots in Amazon warehouses.
Data and Analytics:
 Involves handling structured and unstructured data.
 Design must consider data volume and relevance.
 Cloud APIs can provide insights.
 Example: Health trackers collecting and analyzing patient data.
Applications:
 The user-facing layer, web-based or app-based.
 Examples in B2C and B2B sectors.
 Example: Pawscout, a dog tracking app in the B2C space.
Growth Potential:
 The number of IoT connected devices is expected to grow significantly.
 IoT market to experience rapid growth due to cloud platforms, digital transformation, 5G, and
affordable sensors.
Important Use Cases:
 Smart Cities: IoT used for traffic management, energy optimization, and more.
 Healthcare: IoT devices for remote patient monitoring and medicine administration.
 Industry 4.0: Real-time data collection and predictive maintenance
 Autonomous and Connected Vehicles: IoT for improving road safety.
IoT Product Management:
 IoT product combines hardware and software to create value.
 IoT product managers need a fundamental understanding of all layers in the IoT stack.
 A system thinking approach is essential for success.
Cloud Computing:
 Collection of computing services (servers, databases, networking, storage, etc.) delivered over the
internet.
  Benefits: Faster innovation, flexibility, cost savings, and scalability.

Market Size and Key Characteristics:

 Cloud adoption is on the rise, with many businesses using cloud services.
 Key characteristics include cost savings, mobility, reliability, and security.
Types of Cloud:
1. Public Cloud: Third-party cloud vendors provide computing resources over the internet. Examples:
Amazon Web Services (AWS), Microsoft Azure.
2. Private Cloud: Proprietary environment used by a single organization, ensuring high security.
3. Hybrid Cloud: Combines elements of both public and private clouds for flexibility and optimization.
Types of Cloud Services:
 IaaS (Infrastructure as a Service): Basic cloud services where users rent infrastructure components
like virtual machines. Example: AWS EC2.
 PaaS (Platform as a Service): Provides a framework for developers with tools and services. Example:
AWS Elastic Beanstalk.
 SaaS (Software as a Service): Offers applications over the internet on demand. Example: Google
Workspace/Colab.
 Serverless Computing: Focuses on app functionality and scaling, with the cloud provider managing
server resources.
 FaaS (Function as a Service): Executes code in response to events. Example: AWS Lambda.
Benefits of Cloud Computing:
 Cost Savings: Reduces CAPEX & allows pay-as-you-go usage, leading to cost reduction.
 Mobility and Collaboration: Resources accessible from anywhere
 Reliability: Backup and disaster recovery features improve data protection.
 Security: Cloud providers handle security, including authentication, access control, and encryption.
Revenue Models:
 Pay-as-you-go (PAYG), tiered pricing, reserved capacity, and freemium are common revenue models
for cloud services.
Challenges in Cloud Computing:
 Privacy of data, service levels, cloud migration and integration, compliance, and scalability can be
challenges in adopting cloud solutions.
Use Cases:
 Cloud is used for various purposes, including cloud strategy, cloud-first application development, cloud
migration, and high potential in SMEs.
Design Considerations:
 Considerations for designing cloud applications include scalability, resilience, loose coupling between
modules, multi-tenancy, and performance monitoring.
Blockchain:
 A blockchain is an immutable
mathematical data structure
consisting of a list of records
called blocks.
 Blocks are linked together
using cryptographic functions.
 Each block includes three
elements, but they are not
explicitly described.
Key properties of blockchain:
 Time-stamped: Each
transaction/block has an
immutable timestamp for
unique identification and
chronological tracing.
 Programmable: Smart contracts automate transactions based on predefined conditions.
Types of Blockchain:
 Traditional enterprise applications vs. blockchain: Centralized server vs. decentralized shared ledger.
 Different possible blockchain architectures based on various types.
Technical Details of Blockchain:
 Cryptographic Hash Function: Converts input into a unique, fixed-size output, ensuring data integrity.
 Digital Signatures: Used for secure and anonymous messaging.
 Structure of each blockchain block: Contains the hash of the previous block, contract-specific data
with a timestamp, and the hash of the current block.
Example: Transactions Ledger:
 Describes a simplified ledger in a blockchain network with five nodes.
 Shows how a transaction is verified and processed, highlighting the Proof of Work consensus
mechanism.
Blockchain Business Value:
 Explains the advantages of
blockchain in various business
sectors.
 Advantages include greater
transparency, increased
efficiency, improved
traceability, and better
security.
Business Applications of Blockchain:
 Two fundamental functions:
Record keeping and dynamic
transactions registry.
 Discusses industry use cases,
including blockchain-
augmented supply chain,
government/civic tech
applications, and banking and finance.
Blockchain and Product Management:
 Highlights the trade-offs between speed and security/reliability when considering blockchain
adoption.
  Suggests a framework for choosing the right data storage infrastructure.
Blockchain in Healthcare:
 Discusses the need for blockchain in healthcare for immutable, distributed medical records.
 Emphasizes the potential for democratizing medical data for research and development.

Economics of Platform
Introduction to Microeconomics in Business:
 Microeconomics is the study of the behavior of individual
markets, businesses, and consumers. It forms the
foundation of management education and is crucial for
understanding various business aspects.
 Microeconomics is particularly relevant to product
managers (PMs) as it helps them understand market
dynamics, competition, and customer behavior.
 The chapter starts by applying microeconomics to the
technology industry, offering insights for PMs on essential
features, competition, and aligning personal goals with the
organization's strategy.
The Framework for Analyzing Platforms:
 The chapter introduces a framework to understand platform businesses. These platforms facilitate
exchanges between different segments of users or sides.
Three critical factors in this framework are:
 Economies of Scale: Examines the cost to produce one extra unit or service for one more user.
 Network Effects: Focuses on how the platform's value increases as more users join.
 Differentiability: Explores how a platform can create a unique space in the customer's mind.
Economies of Scale:
 Economies of scale exist when the cost per unit decreases as production or service volume increases.
 The concept is explained with a demand-supply curve. Initially, as production increases, the marginal
cost decreases, but after a certain point, it might increase
due to various factors like managerial costs and raw
material costs.
 Companies with highly scalable operations can delay the
upward curve of marginal costs, leading to greater market
dominance.
Network Effects:
 Network effects occur when the value of a platform or product increases as more users join.
 Network effects can be categorized as cross-
side and same-side network effects, and
further as local and global network effects.
 Cross-side network effects exist when one side
benefits from more users on the other side.
Same-side network effects occur when adding
more users of the same type increases the
value for everyone.
 Local network effects are confined to specific
regions, while global network effects affect broader markets.
 Companies with strong network effects tend to dominate markets faster, creating natural monopolies.
Differentiability:
 Differentiability means creating a unique value proposition in the customer's mind. It is external and
unrelated to internal processes.
 Differentiability can be achieved by increasing customer switching costs or raising convergence costs.
 Low customer switching costs and high convergence costs can create space for smaller players to
compete with dominant companies.
Implications and Application:
 Companies with strong economies of scale
and network effects are more likely to
become dominant players in their markets.
 Late movers must focus on differentiation by
increasing customer switching costs and
introducing features that raise convergence
costs.
Case Studies:
 Google: Google's dominance in the search market is attributed to economies of scale and strong
network effects. Google continually improved its search algorithm, benefiting from same-side network
effects, where more searches improved the algorithm's accuracy and usefulness.
 Amazon: Amazon, while not necessarily having high economies of scale, understood that customer
switching costs were high. Amazon successfully increased customer switching costs by introducing
Amazon Prime, a loyalty program that offered a wide range of benefits. Amazon also leveraged cross-
side network effects by introducing advertising for third-party sellers.
 Uber: Uber faces the challenge of local network effects, meaning its growth is primarily limited to
specific cities. To improve value and compete in local markets, Uber can explore mergers and
acquisitions, introduce loyalty programs, and expand into transportation beyond ride-hailing.
E-commerce
 E-commerce, or electronic commerce,
involves buying and selling products online
or over the internet.
 The industry can be categorized based on its
business applications, which can range from
online marketplaces to subscription services.
 Examples include Amazon (online
marketplace) and Netflix (subscription
service).
User Personas in E-commerce:
Shoppers: Those looking for products.
Sellers: Individuals or businesses selling products.
Admins: Platform administrators managing content and
operations.
User Journey in E-commerce:
E-commerce User Journey Stages:
 1. User Acquisition: Begins with attracting users from various internet channels, including Paid (e.g.,
ads), Organic (e.g., SEO), Direct (landing directly), or Referral.
2. Brand Recall: Direct traffic indicates brand
recognition, such as users typing in website
URLs directly, signifying a strong brand
recall.
3. Research: Users search for products on the
platform using avenues like free-text
search, category navigation, or in-app
promotions.
4. Select: Users choose products they want to
buy and add them to the cart.
5. Schedule Order: Users specify when and
where they want the product delivered.
Some platforms ask for delivery times and
addresses.
6. Pay For Order: Users select payment methods, which may vary based on the product and platform.
7. Place Order: Users confirm the order, and it is placed with the platform.
8. Order Fulfillment: In most cases, the order is fulfilled offline by a delivery executive. For platforms like
BookMyShow, the ticket is available as a QR code.
9. User Retention: Platforms aim to bring users back and increase their lifetime value through
notifications and pixel retargeting on other platforms.
Platform Structure:
E-commerce platforms have three primary sections:
 Section I: Research and selection phase,
including the landing page, product listing
page, product description page, cart page,
and confirming the delivery schedule.
 Section II: Managing orders, tracking, and
viewing order history.
 Section III: Allowing users to provide reviews
and feedback.
Challenges and Risks in E-commerce:
 Customer Loyalty: Retaining users
in a competitive market.
 Consumer Protection Guidelines:
Complying with changing
regulations and antitrust laws.
 FDI Rules: Adhering to evolving
government regulations on foreign
direct investment.
 Rural Reach: Expanding into rural
areas with limited infrastructure
and education.
 Reverse Logistics: Efficiently
managing returns.
 SEO Evolution: Adapting to new
search methods, like voice search.
Entrepreneurial Opportunities in E-
commerce:
 Creating niche online
marketplaces tailored to
specific products or
industries.
  Developing innovative last-mile delivery solutions for efficient and cost-effective service.
 Offering SEO services that adapt to evolving search trends.
 Providing solutions to enhance customer data security and compliance with regulations.
Fintech in India and Business Models:
Fintech Growth in India:
 Fintech is one of India's fastest-growing
sectors.
 Expected to see substantial growth from
$65 billion in 2019 to $140 billion in 2023.
 Digital payments are a significant
contributor, with a CAGR of 20% until 2023.
 Key drivers include NEFT, RTGS, IMPS, and
digital wallets, along with the 2016
demonetization initiative.
 Government support and innovation have led to new business models.
Fintech Startup Models in India (2019):
 Payment Gateways
 Digital Wallets
 Digital Insurance/InsurTech
 Digital Lending
 Point of Sale (PoS)
 Neo Banking
 WealthTech
Fintech Business Models:
Payment Gateways and Digital Wallets:
 Witnessed significant growth after demonetization.
 Key players: PayTM, MobiKwik, FreeCharge, RazorPay.
Digital Lending:
 Focused on meeting credit demand for MSMEs and consumers.
 Utilizes technology and credit scores for loans.
 Notable companies: LendingKart, Capital Float, RupeePower, Rupeek.
Point of Sale (PoS):
 Facilitates retail transactions, particularly card payments.
 Providers like Ezetap, Mswipe, Pine Labs, Innoviti, Mosambee, Payswiff.
Neo Banking:
 Emerging as digital-only platforms offering efficient and cost-effective banking services.
 Examples: SBI Yono, Open, Kotak 811.
Wealth Management (WealthTech):
 Digital solutions for investment management.
 Benefiting both investors and firms.
 Prominent companies: Zerodha, PayTM Money, Groww.
Zerodha: A Case Study:
 Pioneered the online discount brokerage model in India.
 Notable platforms: Kite for trading and Coin for
commission-free mutual funds.
 Accounts for about 15% of retail trading volume.
 Focused on organic growth, recently valued at $1 billion.
 Utilizes a discount broking model with low operating costs.
Business Model Analysis (Osterwalder's Framework):
 1. Tech Stack: Utilizes C++, Java, VueJS, Flutter, Kafka, and other technologies.
2. App Critique: Login page can be optimized for faster loading; stock trend view may benefit from
simplification; watchlist is user-friendly.
3. Feature Enhancement: Adding stock history, relevant news, and analysis can improve user
engagement.
4. Home Page: Consider refining the design to include daily news updates and stock filters for ease of
access.
5. News and Partner Apps: Integrating partner apps into the main app may enhance the user
experience.

Healthtech Industry:
 Healthtech refers to the use of technology to improve
various aspects of the healthcare system.
 Encompasses a wide range of applications, from telehealth
to robotic-assisted medical procedures and fitness apps.
 The healthtech industry is experiencing rapid growth,
attracting significant venture capital funding.
 The global healthtech market is expected to reach $112
billion by 2025, with a CAGR of 44.2%.
 Healthtech includes various categories of apps, such as
health habits, productivity, healthcare checkups,
meditation, fitness, and medicine delivery.
Practo: A Case Study in Healthtech:
Key Activities:
 Software development.
 Networking with multiple
stakeholders.
 Promotions.
Consumer/Partner Segments:
 Patients.
 Clinics.
 Hospitals.
 Pathology Labs.
 Pharmacies.
 Insurance companies.
 Doctors.
  Delivery partners.
Key Resources:
 Website and mobile app.
 Manpower skills.
 IT infrastructure.
Crossing the Chasm:
 Geoffrey Moore's theory of "crossing the chasm" applies to technology products.
 Practo addressed the challenge of crossing the chasm by focusing on creating value for consumers and
ease of use.
 Practo started as a multi-sided platform, involving doctors, clinics, hospitals, and patients.
Revenue Model:
 Practo adopted a three-tier pricing plan for
doctors.
 Initially offered free services for patients
and later introduced a nominal monthly
charge for listing doctors.
 Focused on acquiring more doctors and
patients, resulting in network effects.

User Profiling and Jobs To Be Done:

 Understanding user behaviors, tendencies,
and pain points is essential for designing
healthcare solutions.
 Creating user profiles and job maps helps
in designing a solution based on user
needs.
 Practo's app facilitates symptom identification, quick research, doctor selection, appointment
booking, and post-appointment features.
 The app offers a personalized and seamless
user experience.

App Critique:
 The Practo app provides a good user
interface but has a lengthy home page with
too many features.
 The app's menu bar is intuitive and easy to
use.
 Features like reminders are simple and
effective.
 The app has the potential to improve user
ratings on Android based on its
performance on iOS.
Future Trends in Healthtech:
 Future healthtech innovations will be built
on mobile applications, blockchain back-
end, AI, and big data analysis.
 User empathy and personalization are
crucial in designing healthtech solutions.
 Deep multi-level architecture in apps can
lead to users missing out on important
features.
 Consistency in visual design is essential for
clear communication.
 Providing a summary of the complete
process can enhance user understanding.
  In-depth user profiling and understanding jobs to be done are vital for designing effective solutions.
 Identifying the platform and business strategy is crucial, with a focus on modules for patients, doctors,
clinics, diagnostics, and delivery
Ride-Hailing Industry.
 The taxi-booking market was once fragmented and lacked transparency.
 Regional players existed but offered little differentiation from traditional taxi services.
 Uber and Ola introduced transparency and reliability to the industry, along with lower search costs.
 The Indian ride-hailing market is estimated to be ₹20,000-25,000 crores.
Business Model Canvas:
 Value Proposition: Transparency, reliability, and convenience in booking rides.
 Competitive advantage: Introducing disruptive technology and efficient service.
 Customer Segment: Passengers and drivers.
 Channels: Mobile apps and websites.
 Customer Relationships: Convenient, hassle-free, and reliable service.
 Key Activities: Technology development, driver recruitment, passenger engagement.
 Key Resources: Mobile apps, IT infrastructure, customer base.
 Key Partners: Drivers and vehicle partners.

Tech Stack:
 Infrastructure and Storage: Hybrid cloud model (cloud and physical data centers), Schemaless, SQL,
Riak, Cassandra.
 Logging: Interaction data stored and analyzed through distributed file systems (Hadoop).
 App Provisioning: Docker containers on Mesos, Aurora for long-running services, and cron jobs.
 Routing and Service Discovery: Service-oriented architecture (SOA), HAProxy, Hyperbahn.
 Development, Deployment, and Testing: Simulations on virtual machines.

App Comparison:
 Login:
  Uber offers a minimalist design focused on essential information.
 Ola's login process includes switching on GPS and may be less user-friendly.
 Landing Screen:
 Uber provides a simple, distraction-free screen.
 Ola's landing screen includes ride options and offers, potentially overwhelming users.
 Confirming the Ride:
 Uber offers default options based on previous rides, enhancing user experience.
 Ola's default option is often "Book Any," potentially less economical.
 Scheduling the Ride:
 Uber integrates ride details with the calendar, making it easier for users.
 Ola's scheduling option appears after selecting the route.
 COVID-19 Upgrades:
 Ola emphasizes safety guidelines and customer feedback regarding COVID-19.
 Uber's approach to COVID-19 safety measures is not mentioned in the provided text.

Travel Tech
Impact of COVID-19 on the Travel Industry:
 The COVID-19 pandemic severely impacted
the travel industry and has driven its
transformation.
 Before the lockdown, technology
companies were already changing how
people travel.
 In 2019, the travel industry was at its peak, with leisure travel spending at $4.7 trillion.
User Journey in Travel:
 A user's journey in the travel industry mainly consists of discovery, booking, and the travel experience.
 Various players are involved in each step of the journey, shaping the customer experience.
Business Model Elements in Travel:
 The business model choices of travel tech
companies determine their strategies.
 There are nine different categories shaping
the modern travel experience, based on an
umbrella business model.
Online Travel Agencies (OTA) in India:
 Convenience and price comparison have
driven the adoption of OTAs in India.
 OTAs compete for market share by focusing
on offering better services and improving the user experience.
UX Design Principles:
 UX design follows five basic principles: design for users, provide feedback, ensure digestibility, offer
clarity, and incorporate familiarity.
Comparison of OTA Apps:
 The UX of two popular OTA apps in India, MakeMyTrip and Yatra, is compared to improve user
engagement and revenue.

CIRCLES Framework for Recommending Features:

 The CIRCLES framework is used by product managers to identify new features and products.
 It involves stages like clarifying goals, identifying user personas, reporting use cases, cutting through
use cases, and listing solutions.

Recommendation for a New Feature:

 The recommendation is to develop a Lounge Discovery and Booking Feature targeting business users.
 This feature is chosen to increase revenue and is aligned with the existing infrastructure.
 Business travellers are less price-sensitive, making it a profitable target market.

EdTech
 EdTech refers to the use of technology in education, and India has a vast wireless internet subscriber
base.
 In 2018, EdTech was the fourth-largest sector in terms of startup investments.
 K12 and online certifications received significant investments, driven by India's demand for education
and skilled labor.
Customer Needs in EdTech:
 EdTech apps serve as supplements to classroom learning, tailored to individual learning speeds.
 The journey of school students through these apps is crucial and needs to be personalized based on
their abilities and interests.
Student Journey:
 A typical school student's
journey in an EdTech platform
involves progression from
kindergarten to grade 12,
with a focus on competitive
exams.
Byju's:
 Byju's is India's highest-valued EdTech company, offering pre-recorded course videos through mobile
apps and tablets.
 It targets students from kindergarten to grade 12, enhancing customer lifetime value.
Parent Journey:
 Parents play a vital role in the
decisions about their
children's education, and
both students and parents
must see value in the
platform.
Vedantu:
 Vedantu operates as a marketplace for teachers and students, offering live classes through its
proprietary virtual learning environment.
 It caters to students from grades 6 to 12, primarily from the CBSE and ICSE boards.
Evaluation of the Product:
 Subscription-based EdTech companies focus on signing up customers and reducing churn through
higher engagement and value delivery.
 UI/UX and features of apps have been
evaluated based on three stages:
 Trial & On-boarding,
 Nurturing & Expansion, and
 Renewal & Loyalty.
Business Model Canvas:
 The Business Model Canvas highlights
specific elements for Byju's and Vedantu,
covering aspects like customer segments,
value propositions, and distribution
channels.
 Recommendations and Product Improvement:
 Suggestions for product improvement
include the introduction of a search bar for
direct lesson access, a help document for
issue resolution, and in-app purchases for
content upgrades.
Foodtech Industry
 Online food orders have seen significant
growth in recent years, contributing a
growing share to the food delivery market.
 Zomato experienced a four-fold increase in
orders in the first quarter of 2020 compared
to 2019, indicating the rising popularity of
online food delivery.
 The Foodtech industry encompasses various
business models, including home food
delivery, recipe discovery, and personalized
nutrition.
Business Model Analysis:
 Swiggy primarily helps users find restaurants and dishes and coordinates delivery.
 Zomato offers restaurant discovery, detailed reviews, and a pickup option, along with a service called
'hyperpure' for high-quality raw materials to restaurants.

User Personas:
 Three user personas are identified based on order frequency and dish affinity: New User,
Cuisine/Restaurant Explorer, and Frequent Repeat User.
App Critique and Comparison:
 Lazy Sign-In: Both Swiggy and Zomato allow users to explore without mandatory sign-in. Zomato's
"Skip" option is more intuitive than Swiggy's.
 Restaurant Explorer Page: Zomato offers better organization, filtering options, and additional features
like videos and community insights, enhancing user experience.
 Restaurant Landing Page: Zomato provides more comprehensive restaurant reviews and better
placement of best-seller dishes, improving the ordering experience.
 Covid-Related Initiatives: Zomato excels in communicating safety measures, providing transparency
on orders delivered, and detailing restaurant-specific safety precautions.