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.
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.
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.
Product Development is the process of bringing a new product to market or improving an existing one. Crucial for innovation, meeting customer needs, and maintaining a competitive edge.
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.
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.
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 practice of using narrative to communicate information, ideas, or experiences in a compelling and engaging way, often used in marketing and design. Crucial for creating engaging and memorable user experiences and effectively conveying messages.
A project or venture that starts from scratch, with no constraints imposed by prior work, enabling innovation and flexibility in development. Essential for recognizing opportunities for innovation and fresh development in business initiatives.
The process of creating and developing new products, focusing on form, function, usability, and aesthetics to meet user needs. Crucial for developing products that are both functional and appealing to users.
A writing and design principle that suggests that things grouped in threes are more satisfying, effective, and memorable for audiences. Important for creating impactful and memorable content and designs.
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 tendency for images to be more easily remembered than words, highlighting the power of visual communication. Crucial for designing effective visual content that enhances memory retention and user engagement.
Digital advertising that includes advanced features like video, audio, or interactive elements to engage users. Important for creating engaging and effective online advertisements.
Natural Language Processing (NLP) is a field of AI focused on the interaction between computers and humans using natural language. Essential for developing applications like chatbots, language translation, and sentiment analysis.
A qualitative research method that studies people in their natural environments to understand their behaviors, cultures, and experiences. Crucial for gaining deep insights into user behaviors and contexts.
An iterative design process that focuses on the users and their needs at every phase of the design process. Crucial for creating products that are effective, efficient, and satisfying for the end users.