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.
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.
The degree to which a product satisfies strong market demand, often considered a key indicator of a product's potential for success. Essential for validating the viability of a product in the market and guiding strategic decisions.
The practice of deeply understanding and sharing the feelings of users to create products and services that truly meet their needs. Crucial for creating user-centered designs that resonate with users' emotions and experiences.
A professional responsible for the strategy, roadmap, and feature definition of a product or product line, ensuring it meets market needs and business goals. Essential for guiding the development and success of products from conception to market.
Customer Effort Score (CES) is a metric that measures how much effort customers have to put in to interact with a product or service. Crucial for identifying friction points and improving user experience in digital products.
The practicality of implementing a solution based on technical constraints and capabilities. Crucial for evaluating the viability of design and development projects.
The process of identifying user needs and market opportunities to inform the development of new products or features. Crucial for ensuring that products are user-centered and meet real market demands.
A research method used to determine how desirable a product or feature is to potential users. Crucial for understanding user preferences and guiding product development.
The implied cost of additional rework caused by choosing an easy or limited solution now instead of using a better approach that would take longer. Essential for understanding and managing the long-term impacts of short-term technical decisions.
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.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
The potential for a project or solution to be economically sustainable and profitable. Important for ensuring that design and development efforts align with business goals and market demands.
A mode of thinking, derived from Dual Process Theory, that is slow, deliberate, and analytical, requiring more cognitive effort and conscious reasoning. Crucial for designing complex tasks and interfaces that require thoughtful decision-making and problem-solving, ensuring they are clear and logical for users.
The difference between a brand's desired perception and the actual perception held by consumers. Important for identifying areas of improvement and aligning brand strategy with consumer expectations.
A preliminary version of a project or system used to test and validate its feasibility before full-scale implementation. Crucial for identifying potential issues and making necessary adjustments to improve the final product.
The phenomenon where people continue a failing course of action due to the amount of resources already invested. Important for recognizing and mitigating biased decision-making.
The process of designing, developing, and managing tools and techniques for measuring performance and collecting data. Essential for monitoring and improving system performance and user experience.
The tendency to judge the strength of arguments based on the believability of their conclusions rather than the logical strength of the arguments. Important for understanding cognitive biases that affect decision-making and user perceptions.
The ability to identify and interpret patterns in data, often used in machine learning and cognitive psychology. Crucial for designing systems that leverage pattern recognition for predictive analytics and user interactions.
Practical applications of behavioral science to understand and influence human behavior in various contexts. Crucial for applying scientific insights to design and improve user experiences and outcomes.
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.
Search Engine Results Page (SERP) is the page displayed by a search engine in response to a user's query. Essential for understanding how search results are presented and how to optimize content to appear prominently.
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
The tendency for individuals to give positive responses or feedback out of politeness, regardless of their true feelings. Crucial for obtaining honest and accurate user feedback.
The study of the nature, functions, and effects of cinema, exploring how films communicate and create meaning. Useful for understanding narrative and visual techniques that can be applied in multimedia design.
A cognitive bias where people prefer the option that seems to eliminate risk entirely, even if another option offers a greater overall benefit. Important for understanding decision-making and designing risk communication for users.
Happiness, Engagement, Adoption, Retention, and Task (HEART) is a framework used to measure and improve user experience success. Important for systematically evaluating and enhancing user experience.
The process of linking language to its real-world context in AI systems, ensuring accurate understanding and interpretation. Crucial for improving the relevance and accuracy of AI-generated responses.
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 cognitive bias where individuals or organizations continue to invest in a failing project or decision due to the amount of resources already committed. Important for designers to recognize and mitigate their own risks of continuing unsuccessful initiatives.
A professional responsible for overseeing and optimizing a company's portfolio of products, ensuring they align with strategic goals and market demands. Crucial for managing a diverse range of products and maximizing their market impact.
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.
The study of how digital media and technologies influence the way we communicate and persuade. Important for designing effective digital communication 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.
A risk management model that illustrates how multiple layers of defense (like slices of Swiss cheese) can prevent failures, despite each layer having its own weaknesses. Crucial for understanding and mitigating risks in complex systems.
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.
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
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.
The tendency for individuals to present themselves in a favorable light by overreporting good behavior and underreporting bad behavior in surveys or research. Crucial for designing research methods that mitigate biases and obtain accurate data.
The study of how new ideas, products, and processes are developed and brought to market. Essential for fostering creativity and ensuring the continuous improvement and relevance of products.
An algorithm used by Google Search to rank web pages in their search engine results, based on the number and quality of links to a page. Essential for understanding search engine optimization and improving website visibility.
A bias that occurs when the sample chosen for a study or survey is not representative of the population being studied, affecting the validity of the results. Important for ensuring the accuracy and reliability of research findings and avoiding skewed data.
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 consensus-building technique where participants show their level of agreement or support by raising zero to five fingers. Useful for quickly gauging team agreement and making collaborative decisions in product design and development meetings.
A theoretical concept in economics that portrays humans as rational and self-interested agents who aim to maximize their utility. Important for understanding economic decision-making and designing systems that align with rational behavior.
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
Monthly Recurring Revenue (MRR) is a metric that quantifies the predictable revenue generated each month from customers. This metric is crucial for SaaS companies to track financial health and growth.