Managing product development with a focus on understanding and influencing user behavior through behavioral science principles. Essential for product managers to create user-centric products that drive desired behaviors.
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.
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
The study of the principles that govern human behavior, including how people respond to stimuli and learn from their environment. Crucial for designing user experiences that anticipate and influence user 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.
Behavioral Science (BeSci) is the study of human behavior through systematic analysis and investigation. Essential for understanding and influencing user behavior in design and product development.
Messenger, Incentives, Norms, Defaults, Salience, Priming, Affect, Commitment, and Ego (MINDSPACE) is a framework used to understand and influence behavior. Crucial for designing interventions that effectively influence user behavior.
A business strategy where the product itself is the primary driver of customer acquisition, retention, and expansion, often through user experience and engagement. Essential for leveraging the product to drive business growth and achieve market success.
A professional responsible for promoting a product and driving its adoption in the market, through strategies like market research, positioning, and communication. Crucial for ensuring that products reach their target audience and achieve commercial success.
The reduction in sales of a company's existing products due to the introduction of a new product by the same company. Crucial for understanding product strategy and market impacts of new product introductions.
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 strategy where less immediate or tangible rewards are substituted with more immediate or tangible ones to encourage desired behaviors. Important for designing systems that leverage immediate incentives to promote long-term goals.
The four key elements of marketing: Product, Price, Place, and Promotion, used to develop marketing strategies. Important for creating comprehensive marketing strategies that effectively promote digital products.
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
A framework for designing habit-forming products that includes four phases: Trigger, Action, Variable Reward, and Investment. Crucial for creating engaging and sticky user experiences.
The discrepancy between what people intend to do and what they actually do. Crucial for designing interventions that bridge the gap between user intentions and actions.
Minimum Marketable Feature (MMF) is the smallest set of functionality that delivers significant value to users and can be marketed effectively. Crucial for prioritizing development efforts and releasing valuable product increments quickly, balancing user needs with business objectives.
A cognitive bias where individuals overestimate their ability to control impulsive behavior, leading to overexposure to temptations. Important for designing systems that help users manage self-control and avoid overexposure to temptations.
A persuasion strategy that involves getting a person to agree to a small request to increase the likelihood of agreeing to a larger request later. Crucial for building user commitment and enhancing marketing and sales strategies.
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known. Crucial for understanding decision-making under risk and designing systems that align with user behavior.
The strategic promotion, placement, and persuasive presentation of digital products or services within an online platform to maximize sales, engagement, and user satisfaction. Important for optimizing the visibility, appeal, and persuasive impact of digital offerings, enhancing user experience, and driving conversions in online environments.
The ability to influence others' behavior by offering positive incentives or rewards, commonly used in organizational and social contexts. Crucial for understanding dynamics of motivation and influence in team and organizational settings.
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 stimulus that gains reinforcing properties through association with a primary reinforcer, such as money or tokens, which are associated with basic needs. Essential for understanding complex behavior reinforcement strategies and designing effective reward systems.
The process of providing incentives or rewards to encourage specific behaviors or actions. Important for motivating user behavior and increasing engagement.
The rate at which customers stop using a product or service, often used as a metric to measure customer retention. Crucial for understanding customer behavior and improving retention strategies.
The study of psychology as it relates to the economic decision-making processes of individuals and institutions. Essential for understanding and influencing user decision-making and behavior in economic contexts.
Product Development is the process of bringing a new product to market or improving an existing one. Crucial for innovation, meeting customer needs, and maintaining a competitive edge.
A metric that measures how engaged users are with a product, often based on usage frequency, feature adoption, and user feedback. Crucial for assessing user satisfaction and identifying areas for improvement in the product experience.
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.
Modifications or additions to a system that encourage specific user behaviors. Important for guiding user actions and improving the effectiveness of interactions.
A product that significantly changes the market or industry by introducing innovative features or a new business model. Important for understanding market dynamics and identifying opportunities for innovation.
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 behavioral economics concept where people categorize and treat money differently depending on its source or intended use. Crucial for understanding financial behavior and designing systems that align with users' mental accounting practices.
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
The tendency to overestimate how much our future preferences and behaviors will align with our current preferences and behaviors. Important for understanding user behavior and designing experiences that account for changes over time.
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.
A self-regulation strategy in the form of "if-then" plans that can lead to better goal attainment and behavior change. Useful for designing interventions that promote positive user behaviors.
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
A psychological theory that predicts an individual's behavior based on their intention, which is influenced by their attitudes and subjective norms. Important for understanding and predicting user behavior and designing interventions to influence actions.
A psychological phenomenon where people follow the actions of others in an attempt to reflect correct behavior for a given situation. Essential for designing interfaces and experiences that leverage social influence to guide user behavior and increase trust and engagement.
User Experience (UX) refers to the overall experience of a person using a product, system, or service, encompassing all aspects of the end-user's interaction. Crucial for creating products that are not only functional but also enjoyable, efficient, and satisfying to use.
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 pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users. Useful for driving sales by presenting a balanced choice that appears more attractive relative to higher and lower-priced options.
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
Technology designed to change attitudes or behaviors of users through persuasion and social influence, but not coercion. Crucial for designing systems that effectively influence user behavior while maintaining ethical standards.
A theory of motivation that explains behavior as driven by a desire for rewards or incentives. Crucial for designing systems that effectively motivate and engage users.
A psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, ranging from basic physiological needs to self-actualization. Crucial for designing products and services that address various levels of user needs.
A strategy where engaging, preferred activities are used to motivate users to complete less engaging, necessary tasks. Useful for designing user interfaces and experiences that encourage desired behaviors by leveraging more enjoyable activities as rewards.
A psychological principle where people place higher value on objects or opportunities that are perceived to be limited or rare. Important for understanding consumer behavior and designing marketing strategies that leverage perceived scarcity.
The practice of using an established brand name to introduce new products or services. Essential for leveraging brand equity to expand product lines and enter new markets.
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.
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.
A cognitive bias where people prefer a greater variety of options when making simultaneous choices compared to sequential choices. Important for designers to consider user preferences for variety when designing choice architectures and product offerings.
The practice of organizing the context in which people make decisions to influence the outcomes, often used to nudge users towards certain behaviors. Crucial for designing user experiences that guide decision-making and improve outcomes.
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality. Useful for understanding consumer perceptions and designing effective pricing strategies.
A theory that describes how individuals pursue goals using either a promotion focus (seeking gains) or a prevention focus (avoiding losses). Crucial for designing motivation strategies and understanding user behavior in goal pursuit.
A psychological phenomenon where people do something primarily because others are doing it. Important for understanding social influences on user behavior and trends.
The phenomenon where external incentives diminish intrinsic motivation, leading to reduced performance or engagement. Important for designing motivational strategies that do not undermine intrinsic motivation.
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior. Important for creating urgency and increasing perceived value in marketing.