Business-to-Business-to-Business (B2B2B), a business model where businesses sell products or services to other businesses that then sell them to additional businesses. Crucial for understanding multi-tiered business relationships and strategies.
Business-to-Business (B2B), a business model where products or services are sold from one business to another. Crucial for understanding business markets and developing inter-business strategies.
The ability to understand and deal with various business situations, making sound decisions to ensure successful outcomes. Important for designers to align their work with business goals and make informed decisions.
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 business culture that prioritizes product development and innovation as the key drivers of growth and success, often involving cross-functional collaboration. Crucial for fostering innovation and ensuring that product development is aligned with business objectives.
Enterprise Resource Planning (ERP) are integrated software systems that manage business processes across various departments, such as finance, HR, and supply chain. Essential for improving operational efficiency and providing a unified view of business operations.
An organization that places the product at the center of its operations, ensuring that all departments align their efforts to support product development and success. Crucial for creating a cohesive and focused approach to product development and business growth.
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
A principle stating that 80% of effects come from 20% of causes, often used to prioritize tasks and identify key areas of focus. Essential for prioritizing tasks and focusing efforts on the most impactful areas.
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.
The ability of an organization to adapt quickly to market changes and external forces while maintaining a focus on delivering value. Essential for fostering an adaptable and resilient design and development process.
The planning and preparation to ensure that an organization can continue to operate in case of serious incidents or disasters. Crucial for minimizing disruptions and maintaining critical functions during and after unexpected events.
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.
Domain-Driven Design (DDD) is an approach to software development that focuses on modeling the business domain and its logic. Essential for aligning software development with business needs and creating maintainable systems.
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.
Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction based on their likelihood to recommend a product or service to others. Crucial for gauging overall customer sentiment and predicting business growth through customer advocacy.
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
A marketing technique focused on rapid experimentation across various channels and strategies to identify the most effective ways to grow a business. Important for quickly scaling businesses and achieving significant growth.
A team structure focused on delivering value streams, often organized around a specific business capability or customer need. Crucial for enhancing delivery efficiency and aligning with business goals.
Dynamic Systems Development Method (DSDM) is an agile project delivery framework focused on delivering business value early and continuously. Essential for ensuring that projects align with business goals and user needs through iterative processes.
The day-to-day activities required to produce goods and services, manage resources, and support business functions. Essential for ensuring efficient and effective functioning of an organization.
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.
Business-to-Government (B2G), a business model where products or services are sold to governments. Important for understanding and navigating public sector markets.
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.
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.
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
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.
A method where a document or proposal is limited to one page and created within one hour to ensure clarity and focus. Crucial for efficient communication and decision-making.
The integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers. Essential for staying competitive and relevant in a rapidly evolving digital landscape.
The simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers, often associated with Blue Ocean Strategy. Important for developing strategies that can open up new markets and create significant competitive advantages.
Business-to-Consumer (B2C), a business model where products or services are sold directly to individual consumers. Essential for understanding consumer markets and developing direct marketing strategies.
A focus on the results or benefits of a project rather than the activities or deliverables produced. Crucial for ensuring that efforts are aligned with achieving meaningful results.
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.
The process of attracting and converting strangers and prospects into someone who has indicated interest in your company's product or service. Essential for building a sales pipeline and driving business growth.
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.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
Obstacles that make it difficult for new competitors to enter an industry, such as high capital requirements, strong brand loyalty, or regulatory hurdles. Crucial for assessing the competitive landscape and the feasibility of entering a new market.
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 framework for discovering and validating the right market for a product, building the right product features, and validating the business model. Important for ensuring that products meet market needs and customer expectations.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
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.
A technique used to prioritize product features based on the potential impact on customer satisfaction and business goals. Essential for aligning product development efforts with user needs and business objectives.
A methodology that focuses on minimizing waste and maximizing value in business processes. Essential for improving efficiency, productivity, and customer satisfaction by eliminating non-value-adding activities.
A senior role responsible for guiding the product management team and overseeing the development and strategy of products. Crucial for ensuring successful product development and alignment with business goals.
A role focused on overseeing the development, launch, and lifecycle of digital products, ensuring they meet market needs and business goals. Essential for integrating digital product strategy and development.
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
Business Process Automation (BPA) refers to the use of technology to automate complex business processes. Essential for streamlining operations, reducing manual effort, and increasing efficiency in recurring tasks.
The planning, development, and management of content to meet business and user needs, ensuring consistency and effectiveness across all channels. Essential for creating cohesive and impactful content that aligns with business goals and user needs.
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.
A market space that is unexplored and uncontested, where companies can create new demand and capture significant market share without much competition. Crucial for identifying opportunities for innovation and growth by creating new markets.
A strategic planning technique that uses visual maps to align activities with business goals and user needs. Essential for ensuring that development efforts are aligned with strategic objectives.
An economic approach that treats human attention as a scarce commodity, focusing on capturing and retaining user attention. Crucial for understanding user engagement and designing products that effectively capture and retain attention.
A term used to describe an organization focused on continuously shipping new features, often at the expense of quality, user experience, or business value. Crucial for recognizing and addressing the pitfalls of prioritizing quantity over quality in feature development.
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers. Essential for improving business relationships and driving sales growth.
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.
Balanced Scorecard (BSC) is a strategic planning and management system used to align business activities to the vision and strategy of the organization. Essential for aligning business activities with organizational strategy and improving performance.
Objectives and Key Results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes. Essential for aligning organizational goals, improving focus and engagement, and driving measurable results across teams and individuals.
The level of sophistication and integration of design practices within an organization's processes and culture. Essential for assessing and improving the effectiveness of design in driving business value and innovation.
Data points that represent an individual's, team's, or company's performance in the sales process. Essential for tracking progress, identifying issues, and optimizing sales strategies.