Redesign a washer and dryer to increase sales and profit.

Certainly. I'll provide a detailed, strategic answer to the product strategy problem you've presented, demonstrating deep product thinking and leadership from the perspective of a seasoned VP of Product. I'll use a first-person perspective as if directly addressing the interviewer.

Introduction

Thank you for presenting this intriguing product strategy challenge. To restate the problem concisely: we need to redesign a washer and dryer to increase sales and profit. This task aligns with key business objectives such as market growth, revenue expansion, and potentially entering new customer segments or geographical markets.

I'll approach this challenge systematically, focusing on:

1. Clarifying our strategic goals
2. Analyzing the market and competitive landscape
3. Defining our product vision and roadmap
4. Prioritizing strategic initiatives
5. Developing an execution plan
6. Establishing metrics and KPIs
7. Managing risks and planning contingencies

Let's begin by ensuring we're aligned on the strategic context for this redesign.

Step 1

Clarify the Strategic Goals (3-4 minutes)

• Based on the nature of the home appliance market, I'm assuming this is a mature product category where innovation and differentiation are key to driving growth. Could you confirm if we're looking to maintain market leadership or if we're trying to disrupt an established market?

Why it matters: This will determine whether we focus on incremental improvements or more radical innovation. Expected answer: Maintaining market leadership while seeking opportunities for disruption. Impact on approach: We'll balance proven features with innovative elements to maintain our position and attract new customers.

• Given the increasing focus on sustainability and energy efficiency in home appliances, are we prioritizing eco-friendly features as part of our company's broader strategic initiatives?

Why it matters: This will influence our design priorities and marketing positioning. Expected answer: Yes, sustainability is a key focus area for the company. Impact on approach: We'll emphasize energy-efficient technologies and eco-friendly materials in our redesign.

• Considering the trend towards smart home integration, how important is connectivity and IoT functionality for our target customer segments?

Why it matters: This will guide our technology investment and feature prioritization. Expected answer: It's increasingly important, especially for younger, tech-savvy consumers. Impact on approach: We'll explore smart features that add genuine value without overwhelming users.

• In terms of market positioning, are we aiming for premium pricing to maximize profit margins, or are we looking to increase market share through more competitive pricing?

Why it matters: This will influence our design choices, materials, and overall product strategy. Expected answer: We're aiming for a balance, with options across different price points. Impact on approach: We'll develop a product line that includes both premium and more accessible models.

Based on these assumptions, our strategic approach will focus on:

1. Balancing innovation with proven features to maintain market leadership
2. Emphasizing sustainability and energy efficiency
3. Incorporating smart home technology thoughtfully
4. Developing a range of products to address different market segments and price points