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Razorpay

Razorpay is looking to launch a mobile app in local Indian languages to help businesses in tier 3 and 4 cities create payment links and track payments. As a product manager for Razorpay, candidates are asked to submit a concept note proposing a minimum viable product for two cities, including features, risks, and metrics. The concept note should follow the provided template covering problem definition, goals, customer needs, solution considerations, recommended solution, impact metrics, and go-to-market strategy.

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shourya kumar
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100% found this document useful (1 vote)
370 views4 pages

Razorpay

Razorpay is looking to launch a mobile app in local Indian languages to help businesses in tier 3 and 4 cities create payment links and track payments. As a product manager for Razorpay, candidates are asked to submit a concept note proposing a minimum viable product for two cities, including features, risks, and metrics. The concept note should follow the provided template covering problem definition, goals, customer needs, solution considerations, recommended solution, impact metrics, and go-to-market strategy.

Uploaded by

shourya kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Razorpay | Indian Institute of Technology,

Kharagpur
Product Case Round Problem Statement

Hygiene
Checks

● This assignment needs to be submitted individually

● The submission should be in the form of a Concept Note document (max 6 pages)

○ Problem Definition

○ Goals & Non Goals

■ Success Criteria of the Product

○ Customer Needs

○ Solution Considerations

○ Solution Recommendation

○ Impact Metrics

○ Go-To-Market Strategy

● Deadline: 16th November, 2019 11:59 pm

● Evaluation will be done on the structure of the document (a function of your thought

process) and creativity of solution

Point of Contact
● Abhijeet Gaur ([email protected], +917004612001)

Problem Statement

Razorpay in Local Language

Razorpay has recently validated that there’s a huge untapped potential (~5Mn businesses)
in Tier 3/4 cities where the business owners or the employees are not well-versed with

English. Although businesses and customers here use online payment channels, the

adoption rate is extremely poor (<5% of all payments), and one of the primary reasons that

Razorpay has identified is the language barrier. Hence, Razorpay now wants to launch a

mobile app in local language which just lets the business create payment links where
customers can make payments. Businesses can track the payments and see reports (daily,

weekly, monthly aggregated customer-level data) on the app.

As a Product Manager of Razorpay, you need to conceptualise a solution, identify two cities

in India where Razorpay should launch this MVP and propose features which should go with

this MVP. Also, analyze the risks and mitigation strategies around the proposed features.

Submission should be made in the Concept Note template mentioned below.

Bonus: What do you think will be the value proposition statement for this product?
Resources and
Tips:

What is a Concept Note?

As an APM in Razorpay, you will live and breathe Concept notes. These are the ultimate

6-pagers that provide the guiding light for the execution of your idea into a fully-fledged

solution that is loved by your customers. Think of it as a detailed document explaining the

Why’s and How’s of your product. It consists of the following components:

● ​Problem Definition​: Self-explanatory. A 150-200 word summary of what you’re

trying to solve. Are you trying to improve the top-line? Or are you trying to retain

existing customers? Are you trying to monetise? The problem definition should clearly

highlight the issues that are faced by your consumers and how helping them is the

need of the hour.


● Goals & Non Goals: ​Success Criteria of the Product. This is the nirvana state that

your product needs to achieve. It’s imperative that you highlight what goals your

product will meet for the organisation. It’s also critical that you mention what this

product will NOT do, so as to set the right expectation will all the relevant

stakeholders in the organisation.

● Customer Needs: ​This is where you need to delve deep into identifying your

customer needs and requirements. Consolidate all of that in a structured manner to

highlight your defined user persona(s) and their requirements. Think about the

requirements you need to pick up for a Minimum Viable Product (MVP).

● ​Solution Considerations: ​Try to identify the existing solutions in the market that can

solve this problem. If possible do a quick research on your competition/alternates and

highlight the gaps that they are unable to serve.

● Solution Recommendation: ​This is where you need to embrace your inner Elon Musk

and Steve Jobs and craft a solution that you think should solve the problem you

defined above. You can use flowcharts or wireframes to explain the solution.

Remember, the solution needs to be easily understandable across all technical and

non-technical readers. A Tesla Model S or a Falcon V rocket, here you will need to

clearly communicate what needs to be built to solve this problem.


● Impact Metrics: ​A good PM is hand-on with Data. You presented a solution. Now you

need to tell us how you’ll measure and quantify your product success. This holds your

idea accountable by presenting a clear and concise picture of the product. This also

answers the million dollar question of “What the hell is going on?” for everyone in

your team.

● Go-To-Market Strategy: ​This is where you define how your solution shall be made

available for your users. How will this product be made available for your users? Will

you make it all available in one-go or will you do a Phase wise launch? If so, how will

you get the first 50 users onboarded? What all will need to be done to get people

talking about your product? Give a strategy that you think should get the validation
you need to grow this product.

What is a Payment Link?


Payment Link Product Overview: ​https://razorpay.com/payment-links/

Read more about Product Manager Hiring at Razorpay:

https://medium.com/razorpay-unfiltered/how-we-hire-product-managers-at-razorpay-ba9e
cfb069ae

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