In this class, we talked about product basics. In particular, I explained you what the products are, who Product Manager is what product manager does and what differentiates good product manager from bad product manager. We also talked about different life stages of the product, such as new products, growth products, and mature products, and how those life stages are different than what what defines success in each of those life stages. In each of the life stages, we emphasize the critical importance of both quantitative and qualitative learnings in managing product and reaching success. Finally, for each product lifecycle, we discussed the magic success formula and how you drive success. For new products.

We define success as a multiple of market team product and luck. For growth products. We define success as the rate of growth in a key factor. And for mature products. We define success as a customer lifetime value, or LTV, which key components are revenue, gross margin retention and cost of customer acquisition. This concludes our Class I appreciate your time and effort.

You can reach out to me anytime when you have any questions and I appreciate your feedback on this class and what I can do better to improve for the next time. Good luck with the new product ventures.