A strategic management template for developing new business models or documenting existing ones, detailing elements like value proposition, infrastructure, and customers. Important for understanding and designing business strategies that align with product and user experience goals.
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 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.
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.
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 designing and implementing processes, systems, or business solutions in a way that ensures their long-term viability, efficiency, and maintainability. Crucial for creating durable and efficient designs that remain practical and effective over time, ensuring the ongoing success and feasibility of digital products and operations.
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.
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 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.
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.
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.
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.
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.
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 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.
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.
Adhering to laws, regulations, and guidelines relevant to business operations and product development. Crucial for ensuring products and practices meet legal and ethical standards.
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.
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.
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 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 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.
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 process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
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 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.
The process of setting short-term objectives and determining the actions needed to achieve them. Critical for aligning daily operations with strategic goals.
A unique capability that sets an organization apart from its competitors, providing a competitive advantage. Important for identifying and leveraging core strengths in strategic planning.
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 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.
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.
The process of making small, continuous improvements to products, services, or processes over time. Important for sustaining growth and maintaining competitiveness through ongoing improvements.
A metaphor for a balanced approach to product development, considering three core aspects: business viability, technical feasibility, and user desirability. Crucial for ensuring comprehensive and balanced product decisions.
The ability to deliver products or services in the most cost-effective manner without sacrificing quality. Key to reducing costs and improving profitability.
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.
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 professional responsible for overseeing and optimizing a company's portfolio of products, ensuring they align with strategic goals and market demands. Crucial for managing a diverse range of products and maximizing their market impact.
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.
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.
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.
The percentage of customers who stop using a product or service during a specific time period. Essential for understanding customer retention and identifying areas for improvement.
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
Plan, Do, Check, and Act (PDCA) is a four-step management method used for continuous improvement of processes and products. Essential for implementing and maintaining continuous improvement in business and design processes.
The competitive advantage gained by the initial significant occupant of a market segment, which can lead to brand recognition and customer loyalty. Important for understanding the benefits and risks of being an early entrant in a new market.
The strategic objectives that an organization aims to achieve, guiding its operations and decision-making processes. Important for aligning digital product development with the broader mission and objectives of the organization.
The tendency of consumers to continuously purchase the same brand's products over time. Essential for driving repeat business and ensuring long-term brand success.
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.
A symbol, word, or words legally registered or established by use as representing a company or product. Crucial for protecting brand identity and ensuring legal rights to brand elements.
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.
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 percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
A strategic framework used to analyze the external macro-environmental factors affecting an organization: Political, Economic, Social, Technological, Environmental, and Legal. Essential for strategic planning and understanding market dynamics.
The degree to which a product satisfies strong market demand, often considered a key indicator of a product's potential for success. Essential for validating the viability of a product in the market and guiding strategic decisions.
Activities that give the appearance of innovation but do not produce tangible results. Important for recognizing and avoiding ineffective innovation efforts.
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.