Data points that differ significantly from other observations and may indicate variability in a measurement, experimental errors, or novelty. Crucial for identifying anomalies and ensuring the accuracy and reliability of data in digital product design.
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture. Essential for setting achievable sales and market share goals.
The risk that users will find the product difficult or confusing to use, preventing them from effectively utilizing its features. Crucial for making sure the product is user-friendly and intuitive, enhancing the user experience and adoption.
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
A cognitive bias that causes people to attribute their own actions to situational factors while attributing others' actions to their character. Essential for helping designers recognize their own situational influences on interpreting user behavior and feedback.
The perception of a relationship between two variables when no such relationship exists. Crucial for understanding and avoiding biases in data interpretation and decision-making.
The strategic objectives that an organization aims to achieve, guiding its operations and decision-making processes. Important for aligning digital product development with the broader mission and objectives of the organization.
The study of social relationships, structures, and processes. Important for understanding the impact of social dynamics on user behavior and designing for social interactions.
The process of distinguishing a product from its competitors through unique features, benefits, or branding to attract and retain customers. Crucial for creating a competitive advantage and capturing market share.
A model of organizational change management that involves preparing for change (unfreeze), implementing change (change), and solidifying the new state (refreeze). Important for successfully implementing and sustaining changes in product design processes and organizational practices.
Marketing Qualified Lead (MQL) is a prospective customer who has shown interest in a company's product or service and meets specific criteria indicating a higher likelihood of becoming a customer. Essential for prioritizing leads and optimizing the efficiency of sales and marketing efforts by focusing resources on prospects most likely to convert.
A usability testing method that measures the first click users make on a webpage to determine if they can successfully navigate to their goal. Essential for evaluating and improving the navigational structure of a website.
The process of triggering particular aspects of a person's identity to influence their behavior or decisions. Important for designing personalized and effective user experiences.
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.
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.
Behavioral Science (BeSci) is the study of human behavior through systematic analysis and investigation. Essential for understanding and influencing user behavior in design and product development.
The percentage of times a keyword appears in a text relative to the total number of words, used to evaluate the relevance and optimization of a webpage for specific search terms. Important for optimizing content for search engines without overstuffing keywords.
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones. Important for understanding user preferences and designing experiences that account for time-based value perceptions.
Product Development is the process of bringing a new product to market or improving an existing one. Crucial for innovation, meeting customer needs, and maintaining a competitive edge.
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.
A concept describing how motivation fluctuates over time, influenced by various factors such as goals, rewards, and external circumstances. Crucial for designing systems that align with users' motivational states to maximize engagement and productivity.
Research conducted in natural settings to collect data on how people interact with products or environments in real-world conditions. Crucial for gaining authentic insights into user behaviors and contexts.
A cognitive bias where individuals evaluate outcomes relative to a reference point rather than on an absolute scale. Essential for understanding decision-making and consumer behavior.
A decision-making strategy where individuals are prompted to make a choice rather than defaulting to a pre-set option. Useful for increasing user engagement and ensuring intentional decision-making.
The process of generating a broad set of ideas on a given topic, with no attempt to judge or evaluate them initially. Crucial for creative problem-solving and developing innovative solutions in product design and development.
A cognitive bias that causes people to believe they are less likely to experience negative events and more likely to experience positive events than others. Crucial for understanding user risk perception and designing systems that account for unrealistic optimism.
The behavior of seeking information or resources based on social interactions and cues. Important for understanding how users gather information in social contexts and designing systems that support collaborative information seeking.
An SEO issue that occurs when multiple pages on the same website target the same keyword, causing them to compete against each other and potentially harming search rankings. Important for optimizing SEO strategy and ensuring that each page targets unique keywords effectively.
A digital replica of a physical entity, used to simulate, analyze, and optimize real-world operations. Essential for improving operational efficiency and decision-making.
Unique Buying Proposition (UBP) is a statement that highlights the unique benefits and value a product or service offers to customers. Crucial for differentiating a product in the market and attracting customers.
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.
A framework for understanding what drives individuals to act, involving theories such as Maslow's hierarchy of needs. Important for designing products and experiences that align with users' intrinsic and extrinsic motivations.
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.
The systematic process of capturing, evaluating, and implementing ideas to drive innovation, reflecting a collective commitment to continuous improvement and product excellence. Essential for harnessing team creativity and maintaining the entrepreneurial spirit that characterizes successful product development.
A framework for prioritizing product features based on their impact on customer satisfaction, classifying features into categories such as basic, performance, and delight. Crucial for understanding customer needs and prioritizing features that enhance satisfaction.
A document that provides a high-level overview of a product, including its objectives, target market, key features, and requirements, used to guide development efforts. Essential for ensuring that all stakeholders have a clear and consistent understanding of the product.
The reduction in sales of a company's existing products due to the introduction of a new product by the same company. Crucial for understanding product strategy and market impacts of new product introductions.
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
A system where outputs are fed back into the process as inputs, allowing for continuous improvement based on user responses. Crucial for iterative development and continuous improvement in design and product management.
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
The concept in web design referring to the portion of a webpage that is visible without scrolling, with content placed above the fold being more immediately visible. Important for optimizing the placement of key content to ensure it captures user attention.
A prioritized list of ideas and potential features for future product development, embodying a collective vision for innovation and improvement. Essential for managing creative input and maintaining an innovation pipeline that aligns with the team's entrepreneurial spirit and shared commitment to product excellence.
A strategic planning tool that outlines the future direction of a project or product using Kanban principles, emphasizing continuous delivery and improvement. Important for aligning team efforts and maintaining focus on long-term goals.
Time to Value (TTV) is a metric that measures the time it takes for a customer to realize the value of a product or service after purchase. Crucial for optimizing customer satisfaction and improving business outcomes.
A problem-solving method that explores all possible solutions by examining the structure and relationships of different variables. Useful for generating innovative design solutions and exploring a wide range of possibilities in digital product development.
A strategic planning tool that focuses on outcomes and objectives rather than specific features, allowing for flexibility in achieving goals. Important for maintaining strategic focus and adaptability in product development.
A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation. Important for designing user experiences and systems that encourage positive reciprocal interactions.
Integrated Development Environment (IDE) is a software suite that combines tools like code editors, debuggers, and compilers. Essential for improving developer productivity and ensuring efficient and error-free coding practices.
A data-driven methodology aimed at improving processes by identifying and removing defects, and reducing variability. Crucial for enhancing the quality and efficiency of digital product development processes.
A visual workflow management method used to visualize work, limit work-in-progress, and maximize efficiency. Crucial for improving workflow and productivity in various processes.
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.
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 relative estimation technique used in Agile project management to quickly assess the size and complexity of tasks by assigning them T-shirt sizes (e.g., small, medium, large). Crucial for efficient project planning and workload management.
The process of changing the corporate image of an organization, including its name, logo, visual identity, and messaging, to better align with its strategic goals. Important for revitalizing a brand and aligning it with current market positioning and business objectives.
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
The day-to-day activities required to produce goods and services, manage resources, and support business functions. Essential for ensuring efficient and effective functioning of an organization.
A Japanese term meaning "continuous improvement," focusing on small, incremental changes to enhance processes and products. Crucial for fostering a culture of ongoing improvement and excellence in product design and development.
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
The excessive addition of features in a product, often leading to complexity and reduced usability. Crucial for maintaining simplicity and usability in product design.
Integrated Business Planning (IBP) is a process that aligns strategic, operational, and financial planning to optimize business performance. It ensures cohesive and efficient planning across all functions.