Market Validation
The process of determining whether there is a need or demand for a product in the target market, often through testing and feedback. Crucial for ensuring that a product will meet market needs and be successful.
11 topics found for:
“demand assessment”
Product-Market Fit
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.
Business Viability
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.
Product Metrics
Quantitative measures used to track and assess the performance and success of a product, such as usage rates, customer satisfaction, and revenue. Essential for making data-driven decisions to improve product performance and achieve business goals.
Stakeholder Analysis
The process of identifying and assessing the influence and interest of various stakeholders in a project, to prioritize engagement and communication strategies. Crucial for effectively managing stakeholder relationships and ensuring project success.
Staffing Ratio
A strategy used to determine the proportion of various SMEs needed to support a pipeline of work. Important for optimizing resource allocation, enhancing efficiency, and ensuring teams have the appropriate support based on design demand and complexity.
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits. Important for realistic project planning and setting achievable goals for designers.
Product Consolidation
The process of combining multiple products or product lines into a single offering to streamline operations and reduce complexity. Useful for optimizing product portfolios and improving operational efficiency.
Desirability Study
A research method used to determine how desirable a product or feature is to potential users. Crucial for understanding user preferences and guiding product development.
TAM
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.
Portfolio Management
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.