You are the Product Owner at a small company with a single product. You have authority over pricing, promotion, and how much is invested in new features or capabilities. Your product has: - High Curre

Question

Options

• AIncrease the number of product features to attract a greater number of customers.
• BRelease an identical product to market, but give it a new product name.
• CDrop the price for the product to attract a greater number of customers.
• DImprove the marketing of the product to attract a greater number of customers.

• A
  10% (5)
• B
  27% (14)
• C
  4% (2)
• D
  59% (30)

Explanation

Based on the Evidence-Based Management (EBM) framework, your product has a high Current Value (CV), which means that it delivers value to the existing customers and meets their needs and expectations. However, it also has a high Unrealized Value (UV), which means that there is a large gap between the potential and actual use of the product in the market. This indicates that your product has a low awareness, reach, or appeal among the potential customers who could benefit from it. To increase the business performance of the product, you need to reduce the UV and increase the Ability to Innovate (A2I), which is the ability to deliver future value. One way to do this is to improve the marketing of the product, which can help you to communicate the value proposition, differentiate the product from the competitors, and attract a greater number of customers. This can also provide you with more feedback and data to inform your product strategy and backlog The other options are not the best actions to take, because they either do not address the root cause of the high UV, or they may compromise the CV or A2I of the product. Increasing the number of product features may not necessarily increase the value or the demand for the product, and it may also increase the complexity and the cost of development. Releasing an identical product with a new name may confuse the customers and dilute the brand identity, and it may also create legal or ethical issues. Dropping the price for the product may not be a sustainable or profitable strategy, and it may also affect the perceived quality or value of the

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