ICE Scoring Model
Impact, Confidence, and Ease of implementation (ICE) is a prioritization framework used in product management to evaluate features. Essential for making informed and strategic decisions about feature development and prioritization.
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ROAS
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.
Lead Scoring
The process of ranking leads based on their perceived value to the organization. Useful for prioritizing sales efforts and improving conversion rates.
Feature Outcome Assessment
The process of evaluating the impact and success of a feature after its release, based on predefined metrics and user feedback. Crucial for understanding the effectiveness of features and informing future development.
Lead Qualification
The process of evaluating and categorizing potential customers based on their likelihood to purchase. Essential for prioritizing sales efforts and improving conversion rates.
Product Vision
A high-level description of the future state of a product, outlining its purpose, target audience, and key differentiators. Essential for providing direction and inspiration for product development efforts.
Customer Self-Service
A system that allows customers to access information and perform tasks on their own without the need for assistance from customer service representatives. Important for improving customer experience and reducing support costs.
Anchor Pricing
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.
Mood-Congruent Memory Bias
The tendency for individuals to recall information that is consistent with their current mood. Important for understanding how mood affects memory and designing experiences that account for emotional states.
ALM
Application Lifecycle Management (ALM) is the process of managing an application's development, maintenance, and eventual retirement throughout its lifecycle. Important for ensuring the sustainability and effectiveness of digital products over time.
Captive Product Pricing
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.
VUCA
Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) is an acronym for describing the challenging conditions of the modern world. Important for understanding and navigating dynamic and unpredictable environments.
Product Stack
A combination of software tools, technologies, and services used to develop, manage, and deliver a product. Crucial for understanding the infrastructure that supports product development and management.
Product Specs
Detailed descriptions of a product's features, functionality, and technical requirements, used to guide development and ensure all stakeholders are aligned. Essential for ensuring that the product development process is clear and aligned with business and user needs.
HEART Framework
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.
Halo Effect
A cognitive bias where the perception of one positive trait influences the perception of other unrelated traits. Important for designers to manage and utilize this bias effectively in user experience design.
Release Management
The process of overseeing and coordinating the development, testing, and deployment of software releases to ensure they are delivered efficiently and effectively. Essential for managing software development cycles and ensuring successful product releases.
Agile Framework
A set of practices and principles that guide agile methodologies, such as Scrum and Kanban, to improve project management and product development. Important for structuring agile practices and ensuring effective project delivery.
Bye-Now Effect
The tendency for people to defer purchasing decisions to a later time, often leading to procrastination. Important for understanding consumer behavior and optimizing sales strategies.
Product Roadmap
A strategic plan that outlines the goals, milestones, and steps needed to deliver a product that achieves desired outcomes incrementally, providing a clear path forward. Essential for guiding product development and ensuring alignment with strategic objectives.
Growth Product Manager
A role focused on driving user acquisition, engagement, and retention through data-driven strategies and experiments. Essential for scaling products and optimizing user growth.
Sentiment Analysis
The use of natural language processing to identify and extract subjective information from text, determining the sentiment expressed. Crucial for understanding public opinion and customer feedback.
Buyer Persona
A semi-fictional representation of an ideal customer based on market research and real data about existing customers. Essential for targeting design and marketing efforts to meet the needs and preferences of specific user groups.
Semiotic Theory
The study of signs and symbols and their use or interpretation. Important for designing effective visual communication and iconography.
Competitive Analysis
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.
Adhocracy
An organizational structure that emphasizes flexibility, employee initiative, and decentralized decision-making. Useful for fostering innovation and rapid response to changes within an organization.
Design Advocacy
The practice of promoting and defending the value of design within an organization or community. Crucial for ensuring that design considerations are prioritized and integrated into decision-making processes.
Group Product Manager
A role responsible for overseeing multiple product managers and ensuring alignment and collaboration across different product lines within an organization. Crucial for coordinating efforts and driving strategic product development.
Commodification of Design
The process where design services and outputs become standardized and interchangeable, often leading to competition based primarily on price rather than quality or creativity. Important for understanding market trends and pressures that reduce the perceived value and uniqueness of design work, impacting pricing and differentiation strategies.
MECE
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.
Scrum Agile Framework
An Agile project management framework that uses iterative cycles, called sprints, to deliver incremental improvements and adapt to changing requirements. Crucial for managing projects in a flexible and iterative manner, ensuring continuous improvement and responsiveness.
Activation Rate
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.
McNamara Fallacy
The error of making decisions based solely on quantitative observations and ignoring all other factors. Important for ensuring a holistic approach to decision-making.
Denomination Effect
A cognitive bias where people are less likely to spend large denominations of money compared to an equivalent amount in smaller denominations. Useful for designers to understand consumer behavior and design pricing strategies that consider spending biases.
Summative Testing
A type of usability testing conducted at the end of the design process to evaluate the effectiveness and overall user experience. Important for assessing the final design's usability and identifying any remaining issues.
Placing Bets
A strategic approach where multiple potential solutions are tested to identify the most promising one. Crucial for innovation and reducing risk in decision-making.
Color Accessibility
Ensuring that color choices in design are inclusive and usable by people with color vision deficiencies. Crucial for creating accessible and inclusive designs.
Collaborative Filtering
A recommendation system technique that makes predictions about user interests based on preferences from many users. Essential for personalizing user experiences and improving recommendation accuracy.
Invariance
A key aspect of Gestalt psychology in which simple geometrical objects are recognized independent of rotation, translation, and scale. Crucial for understanding how users perceive and recognize patterns in design.
Cross-Platform Consistency
Ensuring that user experiences are consistent across different platforms, such as web, mobile, and desktop. Essential for creating a seamless and cohesive user experience across multiple devices.
User Advocacy
The practice of promoting and representing the needs, interests, and rights of users in the design and development process. Important for ensuring that user needs and perspectives are prioritized in product design and development.
Persona
A fictional character created to represent a user type that might use a site, brand, or product in a similar way, guiding design decisions. Essential for user-centered design, ensuring that products meet the needs of target users.
Marketecture
A high-level description of a system's structure and interactions, focusing on its market-facing aspects rather than technical details. Useful for communicating the value and structure of a digital product to non-technical stakeholders and aligning with market needs.
Bundling Bias
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.
Product Management Audit
An evaluation process that assesses the effectiveness, efficiency, and alignment of product management practices and strategies with organizational goals. Essential for identifying areas for improvement and ensuring alignment with business objectives.
CoD
Cost of Delay (CoD) is a metric that quantifies the economic impact of delaying a project, feature, or task. Important for making informed decisions about project prioritization and resource allocation.
RAD
Rapid Application Development (RAD) is a software development methodology that emphasizes quick prototyping and iterative delivery. Essential for reducing development time and adapting to changing requirements.
Empowered Product Team
A cross-functional team that is given the autonomy, resources, and authority to make decisions and take ownership of the product's success, focusing on solving user problems and achieving business outcomes. Important for fostering innovation, accountability, and agility, leading to more effective product development and higher user satisfaction.
Unfreeze-Change-Refreeze
A model of organizational change management that involves preparing for change (unfreeze), implementing change (change), and solidifying the new state (refreeze). Important for successfully implementing and sustaining changes in product design processes and organizational practices.
Crisis-Response Design
Designing systems and processes to effectively respond to and manage crises, ensuring resilience and quick recovery. Crucial for preparing for unexpected events and minimizing their impact.
5V’s of Big Data
Characteristics of big data defined as Volume, Velocity, Variety, Veracity, and Value. Important for understanding the complexities and potential of big data in driving business insights and innovation.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice. Important for guiding user decisions and increasing the perceived value of targeted pricing tiers.
Crawling
The process by which search engines systematically browse the internet to index and retrieve information from websites. Essential for understanding how search engines discover and index web content.
Startup Culture
The set of shared values, practices, and goals that characterize a startup company. Important for fostering innovation, agility, and a collaborative environment within product design teams.
Standard Economic Model
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.
Data-Driven Design
An approach to design that relies on data and analytics to inform decisions and measure success. Crucial for making informed design decisions that are backed by evidence.
MVC
Model-View-Controller (MVC) is an architectural pattern that separates an application into three main logical components: the Model (data), the View (user interface), and the Controller (processes that handle input). Essential for creating modular, maintainable, and scalable software applications by promoting separation of concerns.
Project Management
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.
Domain Authority
A metric that predicts how well a website will rank on search engine result pages (SERPs), based on factors like backlink quality and quantity. Important for understanding and improving a website's search engine performance.
Incremental Innovation
The process of making small, continuous improvements to products, services, or processes over time. Important for sustaining growth and maintaining competitiveness through ongoing improvements.