Product managers need special methods and techniques for determining priorities and getting great business results. There are dozens of popular methodologies from gaming to the most complicated, quantitative and qualitative, for internal and external purposes.
Here’s one of the popular methods - Buy a Feature.
"Buy a Feature" gaming method
This is a fun way that can be played collaboratively or individually. Here’s the principle:
- There is a group of buyers and you should present them a set of features that need to be prioritized.
- Each buyer gets some play money to spend on the features.
- Every feature is priced according to some measure points (efforts, complexity, etc.)
- Each player’s budget should be between a third to half of the total cost for all features.
- When players buy the features, ask them to explain why they do it.
"Buy a Feature" ends when all money runs out or when players have bought all the features they’re interested in.
This gives a valuable set of insights on the most important features for customers. You will analyze which features were bought the most and the main reasons for their purchasing.