Mobiprep has created step by step solution to estimation questions for all product management and consulting interview questions to help you with the mastering placement interviews. So let’s get started with the estimation questions.
Our team has curated a list of the most important product management frameworks asked in interviews such as Google, Deloitte, McKinsey, Microsoft, EY, ZS and many more. The frameworks are created from the best practices adopted by previous year candidates.
In 1898, Elias St. Elmo Lewis, an eventual inductee of the Advertising Hall of Fame, came up with the 3 most important rules in his advertisement printing career. With these rules came the idea of the AIDA model.
This is a framework that helps understand the various levels a user goes through while buying a service. The AIDA models stand for Attention, Interest, Desire, and Action. This is one of the most efficient models for marketing purposes.
This refers to what a company does to attract attention and generate curiosity among customers. To do so, creating brand awareness can attract users. This is an example of effective social marketing.
If an aspect of a company can solve a problem that a user generally faces, he is attracted to the product. This creates a curiosity in the minds of potential users and makes them want to try the product.
The transition from "liking something" to "wanting it" is what is done in this phase. The company explains how the product is necessary for regular life or why they need it.
This makes a user take an initiative to take a part in the company's campaign.
At the end of any marketing, the company can finish off by stating about a premium feature or a discount available to limited users.
The AIDA framework escorts a user through a buyer's journey to taking action. This is one of the most engaging and convincing models out there!!
However, it starts with knowing your customer journey.
While this model does not cover all the individual aspects of the purchase process, it is one of the most recognized phase models that Lewis developed.