A market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Important for developing targeted digital products that cater to the unique requirements of specific industries or sectors.
A small, specialized market segment focused on a particular product or service, often characterized by a unique demand. Essential for targeting specific customer needs and achieving higher margins with less competition.
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.
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.
Bottom of Funnel (BoFu) refers to the stage in the sales funnel where prospects are close to making a purchase decision. Important for tailoring marketing and sales efforts to convert leads into customers.
A professional responsible for overseeing the planning and execution of a product launch, ensuring alignment with strategic goals and successful market entry. Essential for managing the complexities of launching a new product and coordinating cross-functional teams.
A squeeze page is a type of landing page designed to capture a visitor's email address or other contact information. Highly effective for building an email list by offering a valuable incentive in exchange for the user's details.
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.
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
Messenger, Incentives, Norms, Defaults, Salience, Priming, Affect, Commitment, and Ego (MINDSPACE) is a framework used to understand and influence behavior. Crucial for designing interventions that effectively influence user behavior.
The process of triggering particular aspects of a person's identity to influence their behavior or decisions. Important for designing personalized and effective user experiences.
The tendency for individuals to mimic the actions of a larger group, often leading to conformity and groupthink. Crucial for understanding social influence and designing experiences that consider group dynamics.
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.
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.
Large Language Model (LLM) is an advanced artificial intelligence system trained on vast amounts of text data to understand and generate human-like text. Essential for natural language processing tasks, content generation, and enhancing human-computer interactions across various applications in product design and development.
A design philosophy that considers the diverse needs and abilities of all users, aiming to create products that are accessible to everyone. Crucial for ensuring that products are usable and accessible by the widest possible audience.
A cognitive bias where one negative trait of a person or thing influences the perception of other traits. Important for designing experiences that counteract or mitigate negative biases in user perception.
AI as a Service (AIaaS) is a service model where AI tools and algorithms are provided over the internet by a third-party provider. Essential for making advanced AI capabilities accessible to businesses.
A framework for designing habit-forming products that includes four phases: Trigger, Action, Variable Reward, and Investment. Crucial for creating engaging and sticky user experiences.
Business Process Execution Language (BPEL) is a language for specifying business process behaviors based on web services. Important for defining and automating complex business processes in digital product workflows.
The study of the nature of beauty, art, and taste and the creation and appreciation of beauty. Essential for creating visually appealing and engaging user interfaces.
A dark pattern where users' activities are tracked without their explicit consent or knowledge. Designers must avoid this practice and ensure clear communication about tracking to respect user privacy.
The study of narrative and narrative structure and the ways that these affect our perception. Useful for understanding and applying narrative techniques in design and communication.
The tendency for people to value products more highly if they have put effort into assembling them. Important for understanding user satisfaction and product attachment.