Introduction
Myntra is a big fashion e-commerce company with its headquarters in Bengaluru, India. As a Product Manager at Myntra, your role would include planning, prioritizing, defining, and developing strategies for new products. This position is responsible for cutting the cost of products and generating new revenue.
Team members will conduct the interview under the supervision of senior management. The key objective would be to understand your background and see how well you fit into the company culture and can deliver results.
Significance of Product Management in Myntra
As one of India’s most influential e-commerce companies, Myntra pays more attention to product management in the smartphone, jewelry, and home products markets. The product management role is significant because it allows the company to stay ahead of the competition. The high impact of these products will determine whether it will continue to be a leader in Indian e-commerce or not.
Product management in Myntra has been designed with the following objectives:
- To provide cutting-edge products to the consumers.
- To continuously improve the products and services being offered.
- To ensure that the team succeeds by providing accurate data, analyses and advice.
- To maintain brand consistency by developing new product lines that ensure brand differentiation.
- To develop a long-lasting partnership with the consumers.
- To help the company achieve strong financial growth.
Responsibilities of Product Manager in Myntra
As per the job description, it is mandatory for those selected to do these duties:
- Define and build a definition of the product features: Ensure that product features are developed, keeping in mind the users and how they will use them. This would be an essential part of the role as constantly improving products is important while maintaining the profitability of products. Keeping in mind different aspects such as brand promotion, new product development, cost-effectiveness, and strategic partnerships is also an essential part of this position.
- Directly manage product development: Ensure that product development is organized according to the defined strategies and project timelines. It would be a good opportunity for those who have expertise in this field as well as those who love to work on the latest technologies. A good example of how this role has helped Myntra develop products is the Blackberry Z10 launched in 2012. This smartphone quickly gained popularity and became a hit among users within months of its launch as it offered a great user experience.
- Define the marketing strategy: Ensure that the market is well defined and the market research is done to keep the product development goals in mind.
- Ensure pricing strategy: It would be a good opportunity for those with expertise in pricing strategies to learn about different aspects, such as changing trends, seasonal trends, competitive landscape, etc., to come up with unique pricing strategies that will ensure a healthy profit margin. The pricing strategy should not be arbitrary but must have a clear target based on which all promotional activities are planned.
- Effectively manage supply chain: Ensure that product development execution is enhanced to ensure higher production efficiency while meeting quality and delivery standards.
What are the Important Skills for a Product Manager?
A product manager must learn analytical, design, and marketing skills and understand business models. They should be able to operate within a matrix environment, collaborating with different teams related to product design, engineering, and marketing. Product managers usually focus on a specific product or customer segment but can be more diversified in larger companies. Successful applicants need to display creativity, customer focus, and leadership. Product managers should also have a deep understanding of the market and the ability to influence, mentor, and coach others.
What are the requirements to become a product manager?
To be appointed as a product manager, you must have some basic qualifications. You must have a strong quantitative background, with at least three years of experience in analyzing and implementing new products. Your work should be focused on defining shopping patterns, assessing customer needs, and focusing on the near-term business goals.
What are the benefits of becoming a product manager in Myntra?
The company provides world-class facilities with a competitive salary, excellent training program, coverage for all medical insurance and other employee benefits packages, flexible office timings, etc. To be successful in this role, you need to have analytical ability and the ability to work under pressure. You will have to have a deep understanding of the e-commerce market and be able to communicate with different departments. You will also have an opportunity to upskill and vary your job functions depending on the needs of the company. Depending on your skills, you could move from Product Manager (Senior) level to Product Manager (Junior) in less than one year.
Types of questions frequently asked in Myntra’s Interview for Product Management
- A customer approaches a product manager and says they are not satisfied with the products offered by the company. How would you respond to the customer?
- You are managing a project and want to find out whether your team is on track or not with their deliverables. Which of the following tools would you use? Why?
- Assuming that a successful product sells well, the next step is introducing new variants of similar models. In this situation, what kind of strategy should a product manager follow?
- List three things a product manager must do after conducting market research for any new product (Distinguish between each point and justify).
- What are the roles of a product manager in identifying new markets for the company?
- What are some important skills that are essential for a product manager?
- What should be the mode of communication between product management and development as per your experience? List out the modes of communication and their advantages, disadvantages, and limitations.
- Discuss the role played by Pricing Strategy at different stages (Distinguish between the points and justify).
- What are some key questions to ask an R&D Manager when discussing new products in your company?
Myntra’s Selection Process
Writing Test
There is a test of 25 questions to be finished within a 90-minutes test consisting of aptitude and coding questions. Furthermore, there are some questions related to experience and some written tasks. You will be asked to write answers while solving questions based on industry scenarios and types of questions which differ from time to time.
Technical Rounds
A technical round consists of 2-rounds with an approximate duration of 30 minutes each. The first round involves an interview, where you will be asked a lot of relevant technical questions such as the ability to communicate professionally in the team, details about your experience, and the work culture in your previous companies, etc. The second round is usually a demo round where you present your solutions through code projects and justify the analysis done.
HR Interview
The final round is the HR interview, where several behavioral-style questions will be asked, following a basic technical round. The duration of this round is approximately 15-20 minutes.
Final Interview
The last stage of the selection process is the onsite final round. This is usually conducted after technical rounds, usually within 5-10 days, and consists of some behavioral questions based on your personal experience.
Number of rounds typically conducted in Myntras selection process
When it comes to the entire selection process, it is boiled down to certain rounds, essentially 3 such rounds. These act as pyramidal rounds; every round ensures the selection of the candidate.
First round
The first round is generally the online round. The round consists of five four-point verbal aptitude questions and three coding problems.
Second round
The second round of the interview is the technical round. This round consists of technical questions based on the candidate’s previous projects, experience, and skillset.
Third round
This is the final round of the interview, generally the HR round. The HR asks all the general interview questions to test intangible skills like communication skills, confidence etc.
Tips to keep in mind while preparing for Myntra’s Interview
- Practice solving technical problems and be familiar with some of the common coding interview questions.
- Make sure you clearly understand the job description and the role of a product manager.
- Brush up on some concepts related to management, analytics, design, and marketing.
- You may visit Myntra’s official website for details about their hiring process and get an idea about Myntra as a company from Link.
What are some differences between product management and project management?
Product managers take care of creating new products. Project managers focus on managing the whole process of developing projects. Their role is not limited to just one area but is strongly focused on effective management.
Product managers need to have extensive experience in the area of product management. While project managers usually have a technical skill set, product managers have a much broader understanding of the product. Despite similar tasks and goals, their skill sets are different and cannot be compared.
Conclusion
To successfully become a product manager, you need strong technical and analytical skills. You should be able to take charge of various aspects related to the development of products by planning and reviewing projects, managing costs, and scheduling deadlines. A product manager is responsible for ensuring that all promises made in the project are delivered while keeping an eye on profitability and productivity, which requires them to know the market trends as well as changes in customer preferences.
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