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.
A pattern of rapid and sustained growth after a period of linear or stagnant growth, resembling the shape of a hockey stick. Crucial for understanding and planning for rapid expansion phases in digital product lifecycle and business strategy.
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.
Business Intelligence (BI) encompasses technologies, applications, and practices for the collection, integration, analysis, and presentation of business information. Crucial for making data-driven decisions and improving business performance.
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.
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
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.
An approach to design that aligns design activities with strategic business goals, ensuring that design contributes to overall organizational success. Essential for integrating design into the strategic planning process and achieving business objectives.
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
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.
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.
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.
Average Revenue Per Account (ARPA) is a metric used to measure the average revenue generated per user or account. Crucial for understanding and optimizing revenue streams in subscription-based businesses.
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
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.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
A moment of significant change in a process or system, where the direction of growth, performance, or trend shifts markedly. Important for recognizing critical transitions in design or business strategies, enabling timely adjustments and informed decision-making.
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture. Essential for setting achievable sales and market share goals.
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.
Total Addressable Market (TAM) represents the total revenue opportunity available if a product or service achieves 100% market share. Essential for understanding the full potential of a market.
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.
A cognitive bias where people underestimate the complexity and challenges involved in scaling systems, processes, or businesses. Important for understanding the difficulties of scaling and designing systems that address these challenges.
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.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.
A role focused on driving user acquisition, engagement, and retention through data-driven strategies and experiments. Essential for scaling products and optimizing user growth.
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions. Essential for improving business performance, identifying opportunities for growth, and driving strategic planning.
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.
A change management strategy that aligns people, process, and technology initiatives to improve performance and achieve business goals. Crucial for adapting to market changes and ensuring the organization's long-term success.
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.
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.
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.
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.
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.
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures. Important for identifying gaps in the market that can be filled with new products, services, or solutions.
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.
A role that involves overseeing the development and improvement of technical products, ensuring they meet user needs and business goals. Crucial for bridging the gap between technical teams and business objectives, ensuring successful product development.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
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.
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 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.
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 process of examining large and varied data sets to uncover hidden patterns, correlations, and insights. Important for making informed business decisions and identifying opportunities for innovation and growth.
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
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 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 framework that defines how an organization operates across various functions to deliver value to customers and achieve business objectives. Crucial for aligning organizational functions and processes with strategic goals.
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.
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.
The process of estimating future sales based on historical data, trends, and market analysis. Crucial for setting realistic sales targets and planning resources effectively.
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.
A long-term plan for the development and management of a brand to achieve specific goals. Essential for guiding brand development and ensuring alignment with business objectives.
The process of developing and maintaining a brand to ensure it meets business goals and customer expectations. Crucial for sustaining brand equity and achieving long-term success.
The practice of measuring and analyzing data about digital product adoption, usage, and performance to inform business decisions. Crucial for making data-driven decisions that improve product performance and user satisfaction.
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
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.
A mindset and approach that embodies the entrepreneurial spirit, passion for improvement, and deep sense of ownership typically associated with a company's founders. Essential for maintaining agility, innovation, and customer-centricity as organizations grow and mature.