Labor Illusion
A phenomenon where users perceive greater value in a service or product if they believe more effort was involved in its creation or delivery.
130 topics found for
“business value”
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value.
Buy-a-Feature
A prioritization technique where stakeholders use a limited budget to "buy" features they believe are most valuable, helping to prioritize the development roadmap.
Value Innovation
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.
Value Proposition
A statement that explains the unique value a product or service provides to its customers, differentiating it from competitors.
Mid-Tier Value
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users.
Instrumental Value
The worth of something based on its ability to help achieve a desired end or goal.
ROI
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments.
MRD
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product.