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.
Innovation that creates a new market and value network, eventually disrupting and displacing established market-leading products or services. Crucial for understanding how new entrants can challenge established players and transform industries.
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.
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.
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.
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.
The process of making small, continuous improvements to products, services, or processes over time. Important for sustaining growth and maintaining competitiveness through ongoing improvements.
The use of behavioral science insights to inform and guide strategic decision-making in organizations. Crucial for developing strategies that effectively influence behavior and drive business success.
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.
The belief in one's ability to create change through creativity, often leading to more innovative and effective problem-solving. Essential for fostering a mindset of innovation and creativity in design.
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
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 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.
The practice of identifying and analyzing search terms that users enter into search engines, used to inform content strategy and SEO. Essential for understanding user intent and optimizing content to meet search demand.
A design philosophy that emphasizes core design principles over rigid adherence to standardized processes. Essential for maintaining creativity and innovation in large-scale, process-driven environments.
A brainstorming technique where participants intentionally suggest bad ideas to spur creative thinking and overcome mental blocks. Important for fostering creativity and out-of-the-box thinking during ideation sessions.
The process of gathering and analyzing information about competitors to inform business strategy and decision-making. Essential for understanding market positioning and developing effective competitive 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.
A brainstorming technique that involves listing all possible attributes of a product or problem to generate new ideas and solutions. Useful for generating creative solutions and improving product features.
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
A cognitive bias where new evidence or knowledge is automatically rejected because it contradicts established norms or beliefs. Important for recognizing resistance to change and designing strategies to encourage openness to new ideas among designers.
A creative thinking technique where the typical process is reversed to generate new ideas by considering the opposite of conventional assumptions. Useful for fostering innovation and challenging existing assumptions in problem-solving.
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
Product Advisory Council (PAC) is a group of customers, industry experts, and stakeholders who provide feedback and guidance on a company's product strategy and development. Essential for aligning products with market needs and driving innovation.
A professional responsible for promoting a product and driving its adoption in the market, through strategies like market research, positioning, and communication. Crucial for ensuring that products reach their target audience and achieve commercial success.
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 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.
A role focused on overseeing the development, launch, and lifecycle of digital products, ensuring they meet market needs and business goals. Essential for integrating digital product strategy and development.
An organization that places the product at the center of its operations, ensuring that all departments align their efforts to support product development and success. Crucial for creating a cohesive and focused approach to product development and business growth.
The study of strategic decision making, incorporating psychological insights into traditional game theory models. Useful for understanding complex user interactions and designing systems that account for strategic behavior.
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
An approach to design that explores and creates provocative scenarios of future possibilities to stimulate discussion and critical thinking about the direction of design and society. Important for pushing the boundaries of conventional design thinking and envisioning future implications.
The process of anticipating future developments to ensure that a product or system remains relevant and functional over time. Essential for designing durable and adaptable products.
The practice of quickly testing and iterating on ideas to validate assumptions and learn from user feedback in a short time frame. Essential for agile development and making data-driven decisions efficiently.
The study of how new ideas, products, and processes are developed and brought to market. Essential for fostering creativity and ensuring the continuous improvement and relevance of products.
The tendency to overvalue new innovations and technologies while undervaluing existing or traditional approaches. Important for balanced decision-making and avoiding unnecessary risks in adopting new technologies.
Methods and techniques used to overcome mental blocks that hinder creative thinking and problem-solving. Crucial for maintaining productivity and fostering innovation in design.
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.
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.
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 strategic approach where multiple potential solutions are tested to identify the most promising one. Crucial for innovation and reducing risk in decision-making.
The strategy of placing a brand in the market to occupy a distinct and valued place in the minds of the target audience. Crucial for differentiating a brand and achieving competitive advantage.
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.
An open-ended and creative approach to problem-solving or planning, often involving brainstorming and envisioning future possibilities without constraints. Useful for fostering innovation and creative thinking in strategic planning and ideation sessions.
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.
The practice of guiding and inspiring teams to create effective, user-centered design solutions that align with business goals. Crucial for fostering a culture of innovation, collaboration, and excellence in design practices within organizations.
An established company or market leader that holds a significant market share and has a strong presence in the industry. Important for understanding the dynamics between established players and new entrants in a market.
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 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 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 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.
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.
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 process of investigating and experimenting with new technologies to understand their potential applications and benefits. Essential for innovation and staying ahead in a rapidly changing technological landscape.
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.
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.
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.
The collection of all the backlinks (inbound links) pointing to a website, used to assess its authority and influence in search engine rankings. Essential for understanding and improving SEO 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.