Important Concepts for PM Interviews - Part 1 | PM102

Funnels & user life cycles are talked about all the time in product management. A user life cycle is the journey of a user from the product awareness phase to the referral phase. The journey of a user takes the shape of a funnel.
Let’s say 100 users heard about our product through an advertisement campaign. Only about 15 of them may finally go ahead and check out the product/download the app. Of these users, only about 5 of them may end up becoming paid customers on the app. Studying this funnel becomes essential for the success of every product.