CAC
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.
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“brand growth”
ARPA
Average Revenue Per Account (ARPA) is a metric used to measure the average revenue generated per user or account. Crucial for understanding and optimizing revenue streams in subscription-based businesses.
Trick Cancellation
A dark pattern where the cancellation process is intentionally complicated to discourage users from canceling. Designers must avoid complicating cancellations and respect user decisions with a straightforward process.
Organizational Goals
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.
Design Principles
Fundamental guidelines that inform and shape the design process, ensuring consistency, usability, and effectiveness in product creation. Essential for creating coherent, user-centered designs that align with organizational goals and user needs.
Organic Traffic
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.
Recognition Heuristic
A cognitive shortcut that relies on the recognition of one option over another to make a decision, often used when individuals have limited information. Crucial for designing interfaces and experiences that facilitate quick and effective decision-making.
Operational Efficiency
The ability to deliver products or services in the most cost-effective manner without sacrificing quality. Key to reducing costs and improving profitability.
Storytelling
The practice of using narrative to communicate information, ideas, or experiences in a compelling and engaging way, often used in marketing and design. Crucial for creating engaging and memorable user experiences and effectively conveying messages.
Big Data Analytics
The process of examining large and varied data sets to uncover hidden patterns, correlations, and insights. Important for making informed business decisions and identifying opportunities for innovation and growth.
Barriers to Entry
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.
White Space
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures. Important for identifying gaps in the market that can be filled with new products, services, or solutions.
Backlink Profile
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.
Semiotic Theory
The study of signs and symbols and their use or interpretation. Important for designing effective visual communication and iconography.
External Consistency
The degree to which a product's elements are consistent with external standards or other products. Important for ensuring compatibility and user familiarity across different systems.
Backcasting
A planning method that starts with defining a desirable future and then works backwards to identify steps to achieve that future. Important for strategic planning and setting long-term goals in design and development.
Mood-Congruent Memory Bias
The tendency for individuals to recall information that is consistent with their current mood. Important for understanding how mood affects memory and designing experiences that account for emotional states.
Experience Design
The practice of designing products, services, and environments with a focus on the overall user experience. Essential for creating holistic and meaningful interactions.
B2B
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.
Cannibalization
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.
Halo Effect
A cognitive bias where the perception of one positive trait influences the perception of other unrelated traits. Important for designers to manage and utilize this bias effectively in user experience design.
Marketing Canon
A set of fundamental principles and guidelines that inform and shape marketing practices. Crucial for maintaining consistency and ensuring high-quality marketing outcomes.
Perky Effect
A phenomenon where vivid mental images can interfere with actual perception, causing individuals to mistake imagined experiences for real ones. Important for ensuring that marketing and product design set realistic user expectations to avoid disappointment and maintain brand integrity.
Converted Lead
A lead that has successfully become a customer. Crucial for measuring the effectiveness of marketing and sales strategies.
Design Strategy
An approach to design that aligns design activities with strategic business goals, ensuring that design contributes to overall organizational success. Essential for integrating design into the strategic planning process and achieving business objectives.
Bundling Bias
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.
BSC
Balanced Scorecard (BSC) is a strategic planning and management system used to align business activities to the vision and strategy of the organization. Essential for aligning business activities with organizational strategy and improving performance.
Funnel Velocity
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
Design Leadership
The practice of guiding and inspiring teams to create effective, user-centered design solutions that align with business goals. Crucial for fostering a culture of innovation, collaboration, and excellence in design practices within organizations.
Last Touch
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
AIaaS
AI as a Service (AIaaS) is a service model where AI tools and algorithms are provided over the internet by a third-party provider. Essential for making advanced AI capabilities accessible to businesses.
Consistency
The quality of being uniform and coherent across different elements and touchpoints in design. Crucial for creating predictable and reliable user experiences.
KPI
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
Product-Led Organization
An organization that places the product at the center of its operations, ensuring that all departments align their efforts to support product development and success. Crucial for creating a cohesive and focused approach to product development and business growth.
Big Data Engineer
A professional who designs, builds, and maintains systems for processing large-scale data sets. Essential for enabling data-driven decision-making and supporting advanced analytics in organizations.
Invariance
A key aspect of Gestalt psychology in which simple geometrical objects are recognized independent of rotation, translation, and scale. Crucial for understanding how users perceive and recognize patterns in design.
Startup Culture
The set of shared values, practices, and goals that characterize a startup company. Important for fostering innovation, agility, and a collaborative environment within product design teams.
NIH
Not Invented Here (NIH) syndrome refers to the aversion to using or buying products, research, or knowledge developed outside an organization. This mindset can hinder innovation and collaboration.
Product Profitability
The financial performance of a product, measured by its ability to generate revenue and profit relative to its costs and expenses. Important for assessing the financial success of a product and making informed business decisions.
Social Selling
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.
DAM
Digital Asset Management (DAM) is a system that stores, organizes, and manages digital assets, such as images, videos, and documents. Essential for maintaining and leveraging digital content efficiently in product design and marketing.
Social Proof
A psychological phenomenon where people follow the actions of others in an attempt to reflect correct behavior for a given situation. Essential for designing interfaces and experiences that leverage social influence to guide user behavior and increase trust and engagement.
Social Benchmarking
The practice of comparing one's performance, processes, or practices to those of peers or competitors to identify areas for improvement. Important for understanding relative performance and identifying best practices for improvement.
Worse-Than-Average Effect
A cognitive bias where individuals underestimate their own abilities and performance relative to others, believing they are worse than average. Important for understanding self-perception biases among designers and designing systems that support accurate self-assessment.
Color Accessibility
Ensuring that color choices in design are inclusive and usable by people with color vision deficiencies. Crucial for creating accessible and inclusive designs.
Incumbent
An established company or market leader that holds a significant market share and has a strong presence in the industry. Important for understanding the dynamics between established players and new entrants in a market.
Collaborative Filtering
A recommendation system technique that makes predictions about user interests based on preferences from many users. Essential for personalizing user experiences and improving recommendation accuracy.
Product Development
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.
SEO
Search Engine Optimization (SEO) is the process of improving a website's visibility and ranking in organic search engine results. Essential for attracting more traffic and enhancing the online presence of a website.
Product Critique
A structured evaluation process where a product's design, functionality, and user experience are assessed, often by peers or experts. Essential for identifying areas for improvement and fostering a culture of continuous enhancement.
Idea Management
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.
MRD
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.
W3C
World Wide Web Consortium (W3C) is an international community that develops open standards to ensure the long-term growth of the Web. Essential for creating and maintaining protocols and guidelines that enable the Web to function and evolve.
Process Automation
The use of technology to perform repetitive tasks or processes in a workflow, liberating skilled experts from tedious activities and empowering them to focus on higher-order problem-solving and creative tasks. Crucial for streamlining operations, reducing human error, and enhancing the overall efficiency and innovation capacity of product design teams.
Customer Conversion
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
Exposure Effect
A psychological phenomenon where repeated exposure to a stimulus leads to an increased preference for it. Useful for designing marketing and user engagement strategies that increase familiarity and preference.
Churn
The rate at which customers stop using a product or service, often used as a metric to measure customer retention. Crucial for understanding customer behavior and improving retention strategies.
Customer Attrition
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
Chivas Regal Effect
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality. Useful for understanding consumer perceptions and designing effective pricing strategies.
Prägnanz
A Gestalt principle stating that people will perceive and interpret ambiguous or complex images as the simplest form(s) possible. Important for understanding visual perception and designing intuitive user interfaces.