What feature would you add to a self-driving car to make it a more attractive purchase?

Thank you for providing such a comprehensive framework for addressing this product growth question. I understand that you're looking for a detailed, strategic answer that demonstrates deep product thinking, leadership, and growth strategies within a 30-40 minute timeframe. I'll structure my response according to the steps you've outlined, using a first-person perspective as if I'm directly addressing the interviewer. Let's begin with the introduction and then move through each step.

Introduction

The question at hand is: What feature would you add to a self-driving car to make it a more attractive purchase? This is an intriguing product growth challenge that requires us to consider the current state of self-driving technology, consumer perceptions, and potential differentiators in a highly competitive market.

To address this question, I'll first ask some clarifying questions to ensure we're aligned on the context. Then, I'll analyze the current growth problem, examine competitors and market trends, identify key user segments, propose growth levers and hypotheses, discuss retention strategies, and outline metrics for success. Finally, I'll summarize my recommendations and assess potential risks.

Step 1

Clarifying Questions

• Based on the growth challenge described, I'm assuming we're focusing on a specific company's self-driving car product. Is that correct, or are we considering the self-driving car market in general?

Why it matters: This helps frame our growth strategies within existing company resources or as a broader market approach. Expected answer: Yes, we're focusing on Company X's self-driving car product. Impact on approach: We'd leverage existing brand strength and user base if it's a specific company.

• Are there specific growth metrics or timelines we're aiming for with this new feature? For example, are we looking to increase market share by a certain percentage within the next year?

Why it matters: This helps us prioritize features that can deliver the most impact within the given timeframe. Expected answer: We're aiming to increase market share by 5% within the next 18 months. Impact on approach: We'd focus on features that can drive rapid adoption and differentiation.

• What's the current market positioning of our self-driving car? Are we targeting luxury consumers, mass-market, or a specific niche?

Why it matters: This informs the type of feature we should consider adding to appeal to our target market. Expected answer: We're currently positioned in the premium segment but looking to expand into the mass market. Impact on approach: We'd need to balance luxury features with mass-market appeal and affordability.

• Do we have any data on current user behavior or pain points with existing self-driving car features?

Why it matters: This helps us identify areas where a new feature could address existing user needs or concerns. Expected answer: Yes, we have data showing that users are concerned about safety and ease of use in various weather conditions. Impact on approach: We'd prioritize features that enhance safety and usability in challenging environments.

• Are there any regulatory constraints or upcoming policy changes that might impact the features we can add to self-driving cars?

Why it matters: This ensures that our proposed feature aligns with current and future regulatory requirements. Expected answer: There are ongoing discussions about standardizing safety features for self-driving cars. Impact on approach: We'd focus on features that not only differentiate our product but also align with potential future standards.