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.
A strategy or plan that outlines how a company will launch a product to market, including target audience, marketing tactics, and sales strategy. Essential for successfully launching products and capturing market share.
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 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.
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.
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it. Crucial for making informed decisions about feature prioritization and resource allocation.
Organizational Change Management (OCM) is the process of managing the people side of change to achieve desired business outcomes. Essential for ensuring successful implementation of changes within an organization.
Enterprise Architecture (EA) is a strategic framework used to align an organization's business strategy with its IT infrastructure. Crucial for optimizing processes, improving agility, and ensuring that technology supports business goals.
The approach a company takes to manage and market its portfolio of products, ensuring each product supports the overall business strategy. Important for optimizing the range of products offered to maximize market reach and profitability.
A strategic approach where decisions and direction are set by top-level management and flow down through the organization, often aligned with overarching business goals. Crucial for ensuring strategic alignment and coherence across all levels of an organization.
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 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.
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.
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.
The practice of two websites agreeing to link to each other's content, often used to build relationships and improve SEO. Important for understanding link-building strategies and their impact on SEO.
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
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.
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.
A design strategy that prioritizes the mobile user experience by designing for mobile devices first before scaling up to larger screens. Crucial for creating accessible and responsive designs that work well on all devices.
A deployment strategy that reduces downtime and risk by running two identical production environments, switching traffic between them. Crucial for ensuring seamless updates and minimizing disruptions in digital product deployment.
The use of social media platforms to connect with prospects, build relationships, and ultimately drive sales. Important for leveraging social media to enhance sales strategies.
The process of defining a product's objectives, strategy, and roadmap, ensuring alignment with market needs and business goals. Important for setting a clear direction for product development and ensuring strategic alignment.
The process of distinguishing a product from its competitors through unique features, benefits, or branding to attract and retain customers. Crucial for creating a competitive advantage and capturing market share.
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.
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.
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome. Important for designing user experiences that accommodate decision-making under constraints.
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 process of phasing out or retiring a product or feature that is no longer viable or needed. Important for managing the lifecycle of digital products and ensuring resources are allocated to more valuable initiatives.
The process of changing the corporate image of an organization, including its name, logo, visual identity, and messaging, to better align with its strategic goals. Important for revitalizing a brand and aligning it with current market positioning and business objectives.
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.
The process of developing relationships with prospects through targeted communications and marketing efforts. Crucial for guiding prospects through the sales funnel and increasing conversion rates.
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
Conversion Rate Optimization (CRO) is the systematic process of increasing the percentage of website visitors who take a desired action, such as making a purchase or filling out a form. Crucial for improving user engagement and achieving business goals.
The use of data, algorithms, and machine learning to recommend actions that can achieve desired outcomes. Essential for optimizing decision-making and implementing effective strategies.
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality. Useful for understanding consumer perceptions and designing effective pricing strategies.
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.
A role responsible for overseeing multiple product managers and ensuring alignment and collaboration across different product lines within an organization. Crucial for coordinating efforts and driving strategic product development.
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.
Designing systems and processes to effectively respond to and manage crises, ensuring resilience and quick recovery. Crucial for preparing for unexpected events and minimizing their impact.
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.
A decision-making strategy where individuals are prompted to make a choice rather than defaulting to a pre-set option. Useful for increasing user engagement and ensuring intentional decision-making.
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.
Design strategies aimed at preventing user errors before they occur. Crucial for enhancing usability and ensuring a smooth user experience.
The fundamental guidelines and practices that underpin effective change management, ensuring successful implementation of changes. Important for providing a structured approach to change management initiatives.
The practice of optimizing individual web pages to rank higher and earn more relevant traffic in search engines, focusing on both the content and HTML source code. Crucial for improving the visibility and relevance of web content in search engine results.
The process of preparing, equipping, and supporting individuals to successfully adopt change to drive organizational success and outcomes. Crucial for ensuring smooth transitions and effective implementation of new processes or systems.
Call to Action (CTA) is a prompt that encourages users to take a specific action, such as signing up for a newsletter or making a purchase. Crucial for guiding user behavior and increasing engagement or conversions on digital platforms.
The process of transitioning an organization to agile methodologies, including changes in culture, processes, and practices. Essential for organizations seeking to adopt agile practices for improved efficiency and responsiveness.
The systematic process of capturing, evaluating, and implementing ideas to drive innovation, reflecting a collective commitment to continuous improvement and product excellence. Essential for harnessing team creativity and maintaining the entrepreneurial spirit that characterizes successful product development.
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 preferred version of a web page that search engines should index, used to avoid duplicate content issues and improve SEO. Essential for managing SEO and ensuring the correct indexing of web pages.
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
The systematic identification, analysis, planning, and implementation of actions designed to engage and influence stakeholders in a project. Crucial for maintaining positive relationships and ensuring stakeholder support throughout the project lifecycle.
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.
A psychological phenomenon where people follow the actions of others in an attempt to reflect correct behavior for a given situation. Essential for designing interfaces and experiences that leverage social influence to guide user behavior and increase trust and engagement.
A product that significantly changes the market or industry by introducing innovative features or a new business model. Important for understanding market dynamics and identifying opportunities for innovation.
A practice of performing testing activities earlier in the software development lifecycle to identify and address issues sooner. Essential for improving software quality, reducing defects, and accelerating development cycles in digital product design.
A recommendation system technique that makes predictions about user interests based on preferences from many users. Essential for personalizing user experiences and improving recommendation accuracy.
An organizational environment that encourages and supports creative thinking, risk-taking, and the pursuit of new ideas. Essential for fostering continuous improvement and breakthrough advancements.