A structured framework for organizing information, defining the relationships between concepts within a specific domain to enable better understanding, sharing, and reuse of knowledge. Important for creating clear and consistent data models, improving communication, and enhancing the efficiency of information retrieval and management.
The process of collecting, analyzing, and reporting aggregate data about which pages a website visitor visits and in what order. Essential for understanding user behavior and improving website navigation and content.
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.
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
An intermediary that gathers and provides information to users, typically in an online context. Important for helping users make informed decisions based on aggregated data.
Marketing Qualified Lead (MQL) is a prospective customer who has shown interest in a company's product or service and meets specific criteria indicating a higher likelihood of becoming a customer. Essential for prioritizing leads and optimizing the efficiency of sales and marketing efforts by focusing resources on prospects most likely to convert.
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 cognitive bias that occurs when conclusions are drawn from a non-representative sample, focusing only on successful cases and ignoring failures. Crucial for making accurate assessments and designing systems that consider both successes and failures.
A tendency for respondents to answer questions in a manner that is not truthful or accurate, often influenced by social desirability or survey design. Important for understanding and mitigating biases in survey and research data.
A tree-like model of decisions and their possible consequences, used in data mining and machine learning for both classification and regression tasks. Valuable for creating interpretable models in digital product design and user behavior analysis.
The use of data from digital devices to measure and understand individual behavior and health patterns. Crucial for developing personalized user experiences and health interventions.
A brief description of how a product, service, or brand meets the needs of its target audience and stands out from competitors. Crucial for defining the unique value proposition and guiding marketing strategies for digital products.
An action in a user interface that, once performed, cannot be undone and typically involves deleting or removing content. Important for emphasizing the severity of the action and ensuring user confirmation to prevent accidental data loss.
Small rewards or incentives given to users to encourage specific behaviors or actions. Important for motivating user engagement and fostering desired behaviors.
A bias that occurs when the sample chosen for a study or survey is not representative of the population being studied, affecting the validity of the results. Important for ensuring the accuracy and reliability of research findings and avoiding skewed data.
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
A framework that incorporates privacy considerations into the design and development of products and services from the outset. Crucial for ensuring user privacy and compliance with data protection regulations.
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 process of predicting future customer demand using historical data and other information. Crucial for optimizing inventory levels, production schedules, and supply chain management.
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.
The application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies. Important for creating more effective and engaging marketing campaigns.
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.
A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean. Important for identifying outliers and understanding variability in data, aiding in quality control and performance assessment in digital product design.
The process of planning, executing, tracking, and analyzing marketing campaigns. Essential for ensuring the success and efficiency of marketing campaigns.
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.
A seamless and integrated customer experience across multiple channels, such as online, mobile, and in-store. Crucial for providing a consistent and cohesive user experience, enhancing customer satisfaction and loyalty in digital products.
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 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.
The process of identifying, assessing, and mitigating potential threats that could impact the success of a digital product, including usability issues, technical failures, and user data security. Essential for maintaining product reliability, user satisfaction, and data protection, while minimizing the impact of potential design and development challenges.
A strategy that focuses on identifying and addressing the specific problems or "pain points" of users in order to improve search engine rankings and attract more targeted traffic. Essential for creating content that directly addresses user needs and improves website visibility.
A psychological principle where people are more likely to be influenced by those they like. Important for understanding social influences and improving user engagement and marketing strategies.
The practice of protecting systems, networks, and programs from digital attacks, unauthorized access, and data breaches. Essential for safeguarding sensitive information, maintaining user trust, and ensuring the integrity and functionality of digital products and services.
The practice of dividing a customer base into distinct groups based on common characteristics. Crucial for targeting marketing efforts and personalizing customer interactions.
A sorting algorithm that distributes elements into a number of buckets, sorts each bucket individually, and then combines the buckets to get the sorted list. Useful for understanding more advanced algorithmic techniques and their applications.
Visitors who arrive at a website through unpaid search results, often driven by effective SEO strategies. Essential for understanding and improving a website's visibility and performance in search engines.
The process of creating awareness and demand for a product or service through marketing activities. Crucial for driving interest and engagement in potential customers.
A marketing strategy that leverages satisfied customers to promote products through word-of-mouth and personal endorsements. Important for product managers and marketers to enhance brand loyalty and customer engagement.
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.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
The stages a product goes through from introduction to growth, maturity, and decline, influencing marketing and development strategies. Crucial for planning product development and marketing strategies at each stage of the product's life.
Often referred to as "marketing funnel", a model that represents the user journey from awareness to purchase used to analyze and optimize conversion of prospects to customers. Essential for understanding and improving the customer journey and conversion process.
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 statistical method used to assess the generalizability of a model to unseen data, involving partitioning a dataset into subsets for training and validation. Essential for evaluating model performance and preventing overfitting in digital product analytics.
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.
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 metric used to rank leads based on their engagement with a brand, indicating their readiness to purchase. Crucial for prioritizing leads and improving sales efficiency.
A decentralized digital ledger that records transactions across many computers in a way that ensures the security and transparency of data. Crucial for understanding and implementing secure, transparent digital transactions and applications.
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.
The strategies and tools used to ensure that sales, marketing, and customer service teams have the necessary resources to effectively promote and support a product. Essential for aligning internal teams and ensuring successful product adoption and customer satisfaction.
A research method that involves repeated observations of the same variables over a period of time. Crucial for understanding changes and developments over time.
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.
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.
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 assigning target keywords to specific pages on a website to optimize each page for relevant search terms and improve overall SEO strategy. Crucial for creating a structured and effective SEO strategy.
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line. Crucial for ensuring diverse input and alignment on product strategy and decisions.
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.
The part of an application that encodes the real-world business rules that determine how data is created, stored, and modified. Crucial for ensuring that digital products align with business processes and deliver value to users.
A type of bias that occurs when the observer's expectations or beliefs influence their interpretation of what they are observing, including experimental outcomes. Essential for ensuring the accuracy and reliability of research and data collection.
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.