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.
A heuristic where individuals evenly distribute resources across all options, regardless of their specific needs or potential. Useful for understanding and designing around simplistic decision-making strategies.
The comprehensive process of planning, executing, and overseeing all activities related to the introduction of a new product to the market. Crucial for coordinating efforts to ensure a successful product launch and achieving market impact.
Business Process Management Software (BPMS) refers to tools and systems that help organizations design, model, execute, monitor, and optimize their business processes. Essential for improving operational efficiency and ensuring that digital products support effective business processes.
Common reading patterns users follow when scanning web content, such as the F-pattern, where users read across the top and then scan down the left side. Important for designing layouts that align with natural reading behaviors, improving content engagement and usability.
Cost Per Click (CPC) is an online advertising model where the advertiser pays each time a user clicks on their ad. This model is crucial for measuring and optimizing the effectiveness of online advertising campaigns.
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.
A marketing strategy that uses user behavior data to deliver personalized advertisements and content. Important for improving user engagement and conversion rates by providing relevant and timely information to users.
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.
The phenomenon where people have a reduced ability to recall the last items in a list when additional, unrelated information is added at the end. Crucial for designing information presentation to optimize memory retention.
Data that is organized in a predefined manner, making it easier for search engines to understand and display rich snippets in search results. Essential for enhancing search results and improving SEO.
A mathematical framework used to analyze strategic interactions where the outcomes depend on the actions of multiple decision-makers. Useful for designing systems and processes that involve competitive or cooperative interactions.
A short, time-boxed period used in Agile development to research a concept or explore a new technology. Important for reducing uncertainty and risk in development.
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.
Responsive Web Design (RWD) is an approach to web design that makes web pages render well on a variety of devices and window or screen sizes. Essential for creating flexible, adaptive web experiences that maintain functionality and aesthetics across different platforms and devices.
A reading pattern where users quickly scan for specific markers or keywords within the content. Important for optimizing content for quick search and retrieval.
The use of software to automate repetitive marketing tasks and workflows, improving efficiency and effectiveness. Essential for streamlining marketing processes and increasing productivity.
The abilities and knowledge required to effectively plan, execute, and close projects, including leadership, communication, time management, and risk management. Essential for ensuring successful project outcomes and achieving business objectives.
The design of environments in which people make decisions, influencing their choices and behaviors. Important for creating user experiences that guide decision-making processes effectively.
The ability to intuitively understand what makes a product successful, including market needs, user experience, and competitive landscape. Important for making informed decisions that lead to successful product development.
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it. Crucial for making informed decisions about feature prioritization and resource allocation.
A method of categorizing information in more than one way to enhance findability and user experience. Crucial for improving navigation, search, and overall usability of complex information systems.
A design philosophy that emphasizes core design principles over rigid adherence to standardized processes. Essential for maintaining creativity and innovation in large-scale, process-driven environments.
The practice of comparing performance metrics to industry bests or best practices from other companies. Essential for identifying performance gaps and opportunities for improvement.
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.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
The speed at which users start using a new product, typically measured as a percentage of the target market over a specific period. Essential for evaluating the success of a product launch and planning subsequent strategies.
A lead that has successfully become a customer. Crucial for measuring the effectiveness of marketing and sales strategies.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch. Important for assessing market response, identifying potential issues, and refining digital products before a wider release.
The initial interaction a customer has with a brand. Important for understanding the beginning of the customer journey.
A medium through which a product or service is delivered to a customer, including physical and digital channels. Crucial for understanding how products and services reach end users.
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.
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
The systematic computational analysis of data or statistics to understand and improve business performance. Essential for data-driven decision making in design, product management, and marketing.
The interpretation of historical data to identify trends and patterns. Important for understanding past performance and informing future decision-making.
The percentage of users who take a specific action that signifies they are engaging with a product or service. Important for measuring user engagement and the effectiveness of onboarding processes.
The process of tracking and managing potential customers from initial contact through to sale. Important for ensuring that leads are properly engaged and converted.
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.
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
Click-Through Rate (CTR) measures the percentage of users who click on a specific link out of the total users who view a page, email, or advertisement. This metric is important for assessing the effectiveness of digital marketing campaigns and user engagement.
The study of how psychological influences affect financial behaviors and decision-making. Essential for understanding and influencing financial decision-making and behavior.
An ongoing effort to improve products, services, or processes over time through incremental and breakthrough improvements. Crucial for fostering a culture of constant enhancement and adaptation.
Return on Advertising Spend (ROAS) measures the revenue generated for every dollar spent on advertising. Essential for assessing the effectiveness and profitability of marketing campaigns.
The study of how information is transmitted and received, including the processes and methods that facilitate communication. Important for designing effective communication strategies and user interfaces.
A strategic approach where multiple potential solutions are tested to identify the most promising one. Crucial for innovation and reducing risk in decision-making.
The percentage of users who continue to use a product or service over a specified period, indicating user loyalty and engagement. Essential for assessing the effectiveness of user retention strategies and improving user experience.
Customer Experience Management (CEM) is the process of managing and improving the interactions and experiences customers have with a brand across all touchpoints. This process is essential for building strong customer relationships and enhancing brand loyalty.
The psychological discomfort experienced when parting with money, influenced by the payment method and context. Crucial for understanding spending behavior and designing payment systems that mitigate discomfort.
The cognitive bias where people treat a set of items as more significant when they are perceived as a cohesive group. Important for understanding user perception and decision-making.
Zero Moment of Truth (ZMOT) is a concept in marketing that refers to the point in the buying cycle when the consumer researches a product before the seller even knows they exist. Crucial for understanding consumer behavior and optimizing marketing strategies to influence decision-making at this early stage.
A thorough examination of a brand's current position in the market and its effectiveness in reaching its goals. Important for assessing brand health and identifying areas for improvement.
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.
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 visual representation of the stages a sales opportunity goes through, helping to track progress and forecast revenue. Important for managing sales processes and predicting future sales.
A behavior where users repeatedly bounce back and forth between a search engine results page and individual search results. Important for identifying issues in search result relevancy and user satisfaction.
The first interaction or touchpoint a user has with a product or service, crucial for making a strong first impression. Crucial for designing engaging and intuitive initial user experiences.
Measurements used to evaluate the success of an organization, employee, or process in meeting goals. Necessary for assessing performance and driving continuous improvement.
The use of data and insights to understand and manage relationships with customers and prospects. Crucial for enhancing customer engagement and building stronger relationships.
A theoretical framework in economics that assumes individuals act rationally and seek to maximize utility, used to predict economic behavior and outcomes. Important for understanding traditional economic theories and designing systems that account for rational decision-making.