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.
A moment of significant change in a process or system, where the direction of growth, performance, or trend shifts markedly. Important for recognizing critical transitions in design or business strategies, enabling timely adjustments and informed decision-making.
A cognitive process where ideas are brought together to find a single, best solution to a problem. Important for problem-solving and decision-making in design processes.
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
Metrics that may look impressive but do not provide meaningful insights into the success or performance of a product or business, such as total page views or social media likes. Important for distinguishing between metrics that drive real business value and those that do not.
A business culture that prioritizes product development and innovation as the key drivers of growth and success, often involving cross-functional collaboration. Crucial for fostering innovation and ensuring that product development is aligned with business objectives.
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 dark pattern where additional costs are only revealed at the last step of the checkout process. It's essential to avoid this tactic and promote transparent pricing to build user trust.
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.
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.
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project. Essential for strategic planning and decision-making.
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
The planning, development, and management of content to meet business and user needs, ensuring consistency and effectiveness across all channels. Essential for creating cohesive and impactful content that aligns with business goals and user needs.
The practice of managing and resolving incidents that disrupt normal operations, ensuring minimal impact on business activities. Essential for maintaining service reliability and managing operational disruptions effectively.
Adhering to laws, regulations, and guidelines relevant to business operations and product development. Crucial for ensuring products and practices meet legal and ethical standards.
The tendency for individuals to mimic the actions of a larger group, often leading to conformity and groupthink. Crucial for understanding social influence and designing experiences that consider group dynamics.
The process of attracting and converting strangers and prospects into someone who has indicated interest in your company's product or service. Essential for building a sales pipeline and driving business growth.
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
A standalone web page created specifically for a marketing or advertising campaign, where visitors land after clicking on a link. Crucial for converting visitors into leads or customers.
Entity Relationship Diagram (ERD) is a visual representation of the relationships between entities in a database. Essential for designing and understanding the data structure and relationships within digital products.
The study of cultural norms, values, and practices and their influence on human behavior. Useful for designing products that are culturally sensitive and relevant.
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.
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
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.
A framework that defines how an organization operates across various functions to deliver value to customers and achieve business objectives. Crucial for aligning organizational functions and processes with strategic goals.
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.
A detailed diagram that visualizes the processes, touchpoints, and interactions involved in delivering a service, helping to identify areas for improvement. Crucial for optimizing service delivery and ensuring a seamless user experience.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
A systematic evaluation of all features in a product to determine their usage, effectiveness, and alignment with business goals. Essential for optimizing product performance and user satisfaction.
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome. Important for designing user experiences that accommodate decision-making under constraints.
A phenomenon where users perceive greater value in a service or product if they believe more effort was involved in its creation or delivery. Important for enhancing perceived value and user satisfaction.
A dark pattern where practices are used to make it hard for users to compare prices with other options. It's essential to avoid this tactic and promote fair competition by allowing users to make informed decisions.
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.
A prioritization technique where stakeholders use a limited budget to "buy" features they believe are most valuable, helping to prioritize the development roadmap. Useful for involving stakeholders in the decision-making process and aligning development priorities with business value.
Conversion Rate Optimization (CRO) is the systematic process of increasing the percentage of website visitors who take a desired action, such as making a purchase or filling out a form. Crucial for improving user engagement and achieving business goals.
A squeeze page is a type of landing page designed to capture a visitor's email address or other contact information. Highly effective for building an email list by offering a valuable incentive in exchange for the user's details.
Plan, Do, Check, and Act (PDCA) is a four-step management method used for continuous improvement of processes and products. Essential for implementing and maintaining continuous improvement in business and design processes.
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.
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 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.
The process of creating visual representations of data or information to enhance understanding and decision-making. Essential for organizing information and making complex data accessible.
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.
A user experience that feels consistent and unified across different elements and touchpoints. Crucial for ensuring a seamless and engaging user journey.
A cognitive bias where consumers change their preference between two options when presented with a third, less attractive option. Useful for designers to create choice architectures that effectively influence user decisions.
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 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.
A holistic approach to analysis that focuses on the way that a system's constituent parts interrelate and how systems work over time and within the context of larger systems. Essential for solving complex problems and designing systems that account for interdependencies and dynamics.
The use of statistical techniques and algorithms to analyze historical data and make predictions about future outcomes. Important for optimizing marketing strategies and anticipating customer needs.
Perceivable, Operable, Understandable, and Robust (POUR) are the four main principles of web accessibility. These principles are essential for creating inclusive digital experiences that can be accessed and used by people with a wide range of abilities and disabilities.
Products are individual items or services designed to meet specific customer needs, while programs are collections of related projects and products managed together to achieve broader strategic goals. Essential for understanding the different scopes and objectives involved, helping to manage and align efforts effectively within an organization.
A cognitive bias where people ascribe more value to things merely because they own them. Useful for understanding user attachment and designing persuasive experiences.
A set of standards and guidelines used to ensure the integrity, security, and compliance of business processes and IT systems. Important for establishing robust governance and control mechanisms in digital product design and development.
The visual elements of a brand, such as color, design, and logo, that communicate the brand to consumers. Crucial for creating a consistent and recognizable brand presence.
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.
A market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Important for developing targeted digital products that cater to the unique requirements of specific industries or sectors.
Product Strategy is a framework that outlines how a product will achieve its business goals and satisfy customer needs. Crucial for guiding product development, prioritizing features, and aligning the team around a clear vision.
A methodology that focuses on minimizing waste and maximizing value in business processes. Essential for improving efficiency, productivity, and customer satisfaction by eliminating non-value-adding activities.
A project or venture that starts from scratch, with no constraints imposed by prior work, enabling innovation and flexibility in development. Essential for recognizing opportunities for innovation and fresh development in business initiatives.
A symbol, word, or words legally registered or established by use as representing a company or product. Crucial for protecting brand identity and ensuring legal rights to brand elements.