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 process of distinguishing a product from its competitors through unique features, benefits, or branding to attract and retain customers. Crucial for creating a competitive advantage and capturing market share.
Information Visualization (InfoVis) is the study and practice of visual representations of abstract data to reinforce human cognition. Crucial for transforming complex data into intuitive visual formats, enabling faster insights and better decision-making.
The practice of dividing a customer base into distinct groups based on common characteristics. Crucial for targeting marketing efforts and personalizing customer interactions.
The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics, needs, or behaviors. Important for tailoring marketing strategies and product offerings to specific customer groups.
A brand architecture strategy where multiple distinct brands are managed under a single parent company. Crucial for managing diverse product lines and maximizing market reach.
The strategy of placing a brand in the market to occupy a distinct and valued place in the minds of the target audience. Crucial for differentiating a brand and achieving competitive advantage.
A brand that is part of a larger brand family, often having its own distinct identity while being related to the parent brand. Important for diversifying a brand's market presence and reaching new customer segments.
An interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from structured and unstructured data. Essential for driving data-informed decision making, predicting trends, and uncovering valuable insights in digital product design and development.
Unique Buying Proposition (UBP) is a statement that highlights the unique benefits and value a product or service offers to customers. Crucial for differentiating a product in the market and attracting customers.
The process of distinguishing a product or service from its competitors in a way that is meaningful to the target market. Important for creating a unique value proposition and gaining a competitive edge.
Mutually Exclusive, Collectively Exhaustive (MECE) is a problem-solving framework ensuring that categories are mutually exclusive and collectively exhaustive, avoiding overlaps and gaps. Essential for structured thinking and comprehensive analysis in problem-solving.
The characteristics and qualities that define a brand and distinguish it from competitors. Essential for creating a unique brand identity and guiding brand communications.
A theory that explains how individuals determine the causes of behavior and events, including the distinction between internal and external attributions. Crucial for understanding user behavior and designing experiences that address both internal and external factors.
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.