The simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers, often associated with Blue Ocean Strategy. Important for developing strategies that can open up new markets and create significant competitive advantages.
The use of behavioral science insights to inform and guide strategic decision-making in organizations. Crucial for developing strategies that effectively influence behavior and drive business success.
A strategy or plan that outlines how a company will launch a product to market, including target audience, marketing tactics, and sales strategy. Essential for successfully launching products and capturing market share.
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
The four key elements of marketing: Product, Price, Place, and Promotion, used to develop marketing strategies. Important for creating comprehensive marketing strategies that effectively promote digital products.
The primary brand in a brand architecture that serves as the foundation for all sub-brands and extensions. Essential for providing a unified brand strategy and leveraging brand equity across multiple products.
A persuasion strategy that involves getting a person to agree to a small request to increase the likelihood of agreeing to a larger request later. Crucial for building user commitment and enhancing marketing and sales strategies.
The practice of identifying and analyzing search terms that users enter into search engines, used to inform content strategy and SEO. Essential for understanding user intent and optimizing content to meet search demand.
A marketing technique focused on rapid experimentation across various channels and strategies to identify the most effective ways to grow a business. Important for quickly scaling businesses and achieving significant growth.
A brand that is supported by a stronger brand, typically a parent brand, which lends its credibility. Essential for leveraging the strength of a parent brand to build trust and recognition for a sub-brand.
A business strategy where the product itself is the primary driver of customer acquisition, retention, and expansion, often through user experience and engagement. Essential for leveraging the product to drive business growth and achieve market success.
The process of gathering and analyzing information about competitors to inform business strategy and decision-making. Essential for understanding market positioning and developing effective competitive strategies.
A marketing strategy that uses multiple channels to reach and engage customers, such as email, social media, and websites. Crucial for maximizing customer reach and engagement by leveraging diverse communication platforms in digital products.
A professional responsible for promoting a product and driving its adoption in the market, through strategies like market research, positioning, and communication. Crucial for ensuring that products reach their target audience and achieve commercial success.
Products manufactured by one company for sale under another company's brand name. Important for retailers to offer exclusive products and build customer loyalty.
A role focused on overseeing the development, launch, and lifecycle of digital products, ensuring they meet market needs and business goals. Essential for integrating digital product strategy and development.
A principle stating that as investment in a single area increases, the rate of return on that investment eventually decreases. Important for understanding and optimizing resource allocation in product design and development.
Enterprise Architecture (EA) is a strategic framework used to align an organization's business strategy with its IT infrastructure. Crucial for optimizing processes, improving agility, and ensuring that technology supports business goals.
The competitive advantage gained by the initial significant occupant of a market segment, which can lead to brand recognition and customer loyalty. Important for understanding the benefits and risks of being an early entrant in a new market.
The study of strategic decision making, incorporating psychological insights into traditional game theory models. Useful for understanding complex user interactions and designing systems that account for strategic behavior.
The approach a company takes to manage and market its portfolio of products, ensuring each product supports the overall business strategy. Important for optimizing the range of products offered to maximize market reach and profitability.
A strategic approach where decisions and direction are set by top-level management and flow down through the organization, often aligned with overarching business goals. Crucial for ensuring strategic alignment and coherence across all levels of an organization.
The strategy of placing a brand in the market to occupy a distinct and valued place in the minds of the target audience. Crucial for differentiating a brand and achieving competitive advantage.
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users. Useful for driving sales by presenting a balanced choice that appears more attractive relative to higher and lower-priced options.
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice. Important for guiding user decisions and increasing the perceived value of targeted pricing tiers.
A psychological principle where people are more likely to be influenced by those they like. Important for understanding social influences and improving user engagement and marketing strategies.
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome. Important for understanding decision-making behaviors and designing systems that guide better resource allocation.
An economic theory that explains why some necessities, such as water, are less expensive than non-essentials, like diamonds, despite their greater utility. Useful for understanding consumer behavior and designing pricing strategies.
The application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies. Important for creating more effective and engaging marketing campaigns.
Obstacles that make it difficult for new competitors to enter an industry, such as high capital requirements, strong brand loyalty, or regulatory hurdles. Crucial for assessing the competitive landscape and the feasibility of entering a new market.
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
The practice of two websites agreeing to link to each other's content, often used to build relationships and improve SEO. Important for understanding link-building strategies and their impact on SEO.
A pattern of rapid and sustained growth after a period of linear or stagnant growth, resembling the shape of a hockey stick. Crucial for understanding and planning for rapid expansion phases in digital product lifecycle and business strategy.
A marketing strategy that leverages satisfied customers to promote products through word-of-mouth and personal endorsements. Important for product managers and marketers to enhance brand loyalty and customer engagement.
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
The stages a product goes through from introduction to growth, maturity, and decline, influencing marketing and development strategies. Crucial for planning product development and marketing strategies at each stage of the product's life.
Business-to-Business (B2B), a business model where products or services are sold from one business to another. Crucial for understanding business markets and developing inter-business strategies.
A cognitive bias where people are less likely to spend large denominations of money compared to an equivalent amount in smaller denominations. Useful for designers to understand consumer behavior and design pricing strategies that consider spending biases.
A role focused on driving user acquisition, engagement, and retention through data-driven strategies and experiments. Essential for scaling products and optimizing user growth.
The process of assigning target keywords to specific pages on a website to optimize each page for relevant search terms and improve overall SEO strategy. Crucial for creating a structured and effective SEO strategy.
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line. Crucial for ensuring diverse input and alignment on product strategy and decisions.
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.
The level of awareness or popularity a product or brand has among consumers. Essential for understanding brand perception and guiding marketing and product design strategies to enhance visibility and user adoption.
A strategy that focuses on identifying and addressing the specific problems or "pain points" of users in order to improve search engine rankings and attract more targeted traffic. Essential for creating content that directly addresses user needs and improves website visibility.
Data points that represent an individual's, team's, or company's performance in the sales process. Essential for tracking progress, identifying issues, and optimizing sales strategies.
The stages a customer goes through from awareness to purchase and post-purchase activities. Important for designing strategies that optimize customer acquisition, retention, and satisfaction.
The phenomenon where the credibility of the source of information influences how the message is received and acted upon. Crucial for designing communication strategies that leverage trusted sources.
The process of defining a product's objectives, strategy, and roadmap, ensuring alignment with market needs and business goals. Important for setting a clear direction for product development and ensuring strategic alignment.
The collection of all the backlinks (inbound links) pointing to a website, used to assess its authority and influence in search engine rankings. Essential for understanding and improving SEO strategies.
A brief description of how a product, service, or brand meets the needs of its target audience and stands out from competitors. Crucial for defining the unique value proposition and guiding marketing strategies for digital products.
Visitors who arrive at a website through unpaid search results, often driven by effective SEO strategies. Essential for understanding and improving a website's visibility and performance in search engines.
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
A deployment strategy that reduces downtime and risk by running two identical production environments, switching traffic between them. Crucial for ensuring seamless updates and minimizing disruptions in digital product deployment.
A strategy where less immediate or tangible rewards are substituted with more immediate or tangible ones to encourage desired behaviors. Important for designing systems that leverage immediate incentives to promote long-term goals.
A market space that is unexplored and uncontested, where companies can create new demand and capture significant market share without much competition. Crucial for identifying opportunities for innovation and growth by creating new markets.
The use of social media platforms to connect with prospects, build relationships, and ultimately drive sales. Important for leveraging social media to enhance sales strategies.