Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
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.
A visual tool used to map out the components and features of a product, showing how they relate to each other and to the overall product vision. Useful for visualizing and planning product development, ensuring all elements are aligned with the product vision.
The ability to intuitively understand what makes a product successful, including market needs, user experience, and competitive landscape. Important for making informed decisions that lead to successful product development.
The evaluation of products based on their ability to influence and shape user behavior. Useful for assessing how well a product guides and influences user actions and decisions.
The practice of guiding and inspiring teams to develop and deliver successful products, often involving strategic vision, team management, and innovation. Crucial for driving product success and fostering a culture of innovation and excellence.
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.
Product-Oriented Delivery (POD) is a methodology that focuses on organizing teams around products rather than projects. This approach is essential for enhancing product focus, agility, and cross-functional collaboration.
The stages a product goes through from introduction to growth, maturity, and decline, influencing marketing and development strategies. Crucial for planning product development and marketing strategies at each stage of the product's life.
A senior role responsible for guiding the product management team and overseeing the development and strategy of products. Crucial for ensuring successful product development and alignment with business goals.
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line. Crucial for ensuring diverse input and alignment on product strategy and decisions.
A role that involves overseeing the development and improvement of technical products, ensuring they meet user needs and business goals. Crucial for bridging the gap between technical teams and business objectives, ensuring successful product development.
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.
Managing product development with a focus on understanding and influencing user behavior through behavioral science principles. Essential for product managers to create user-centric products that drive desired behaviors.
A clear and concise statement that defines the purpose and goals of a product, guiding its development and strategic direction. Crucial for aligning product development efforts with organizational vision and goals.
A professional responsible for defining the strategic direction of a product, ensuring it aligns with market needs and business objectives. Essential for guiding product vision and ensuring long-term success.
A combination of software tools, technologies, and services used to develop, manage, and deliver a product. Crucial for understanding the infrastructure that supports product development and management.
A role in Agile development responsible for defining the product vision, prioritizing the product backlog, and ensuring the development team delivers value to users. Essential for guiding product development and ensuring alignment with user needs and business goals.
A professional responsible for the strategy, roadmap, and feature definition of a product or product line, ensuring it meets market needs and business goals. Essential for guiding the development and success of products from conception to market.
The strategies and tools used to ensure that sales, marketing, and customer service teams have the necessary resources to effectively promote and support a product. Essential for aligning internal teams and ensuring successful product adoption and customer satisfaction.
The series of stages a product goes through from initial concept to market release, including planning, design, development, testing, and launch. Essential for understanding the full lifecycle of product creation and bringing products to market efficiently.
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.
An evaluation process that assesses the effectiveness, efficiency, and alignment of product management practices and strategies with organizational goals. Essential for identifying areas for improvement and ensuring alignment with business objectives.
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 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.
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.
A professional responsible for the creation and development of products, ensuring they meet user needs and are visually appealing and functional. Important for translating user needs and business goals into tangible product solutions.
A metric that measures how engaged users are with a product, often based on usage frequency, feature adoption, and user feedback. Crucial for assessing user satisfaction and identifying areas for improvement in the product experience.
The introduction of a new product to the market, involving planning, marketing, and distribution efforts to maximize its initial impact. Essential for ensuring a successful market entry and driving early adoption and sales.
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.
The reduction in sales of a company's existing products due to the introduction of a new product by the same company. Crucial for understanding product strategy and market impacts of new product introductions.
The application of behavioral science principles to design products that influence user behavior in a desired way. Crucial for creating products that effectively guide user behavior and improve outcomes.
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.
A structured framework for product design that stands for Comprehend the situation, Identify the customer, Report customer needs, Cut through prioritization, List solutions, Evaluate trade-offs, and Summarize recommendations. Essential for guiding product managers through a comprehensive design process.
The degree to which a product or system can be used by specified users to achieve specified goals with effectiveness, efficiency, and satisfaction in a specified context of use. Essential for creating products that are easy to use and meet user needs effectively.
The process of testing product ideas and assumptions with real customers to ensure they meet market needs. Essential for reducing risk and ensuring product-market fit.
A systematic evaluation of all features in a product to determine their usage, effectiveness, and alignment with business goals. Essential for optimizing product performance and user satisfaction.
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.
Jobs-To-Be-Done (JTBD) is a framework that focuses on understanding the tasks users are trying to accomplish with a product, emphasizing their goals and motivations over product features. Crucial for designing products that meet real user needs and motivations.
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch. Important for assessing market response, identifying potential issues, and refining digital products before a wider release.
A framework for discovering and validating the right market for a product, building the right product features, and validating the business model. Important for ensuring that products meet market needs and customer expectations.
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 demonstration of the new features and functionalities of a product release, typically used to showcase progress and gather feedback before the official launch. Crucial for validating product features and gathering stakeholder feedback before a full release.
A testing phase where a product is released to a limited audience outside the development team to identify issues and gather feedback before the final release. Essential for refining a product based on real user feedback and ensuring it meets user needs.
Minimum Marketable Feature (MMF) is the smallest set of functionality that delivers significant value to users and can be marketed effectively. Crucial for prioritizing development efforts and releasing valuable product increments quickly, balancing user needs with business objectives.
Products manufactured by one company for sale under another company's brand name. Important for retailers to offer exclusive products and build customer loyalty.
A technique used to prioritize product features based on the potential impact on customer satisfaction and business goals. Essential for aligning product development efforts with user needs and business objectives.
Getting Things Done (GTD) is a productivity methodology that emphasizes capturing tasks, organizing them, and taking action. Essential for improving personal and team productivity and task management.
The strategic promotion, placement, and persuasive presentation of digital products or services within an online platform to maximize sales, engagement, and user satisfaction. Important for optimizing the visibility, appeal, and persuasive impact of digital offerings, enhancing user experience, and driving conversions in online environments.
An agile methodology that separates product discovery and product delivery into parallel tracks to ensure continuous learning and delivery. Essential for balancing innovation and execution in agile product development.
Research conducted to assess the effectiveness, usability, and impact of a design or product. Essential for validating design decisions and improving user experiences.
The distribution of a new or updated software product to users. Important for delivering new features, improvements, and fixes to users, ensuring continuous enhancement of the product.
A product or service produced by one company that other companies rebrand to make it appear as if they had made it. Crucial for understanding business strategies that allow for customization and brand differentiation.
A prioritization framework used in product management to evaluate features based on Reach, Impact, Confidence, and Effort. Crucial for making informed decisions about which product features to prioritize and develop.
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.
The ability to deliver products or services in the most cost-effective manner without sacrificing quality. Key to reducing costs and improving profitability.
The percentage of users who take a specific action that signifies they are engaging with a product or service. Important for measuring user engagement and the effectiveness of onboarding processes.
An environment that replicates the production environment, used for final testing before deployment. Crucial for ensuring that digital products are thoroughly tested and perform as expected before going live.
The ability of consumers to remember a brand when prompted by a product category. Crucial for understanding brand strength and effectiveness in marketing.
The process of evaluating the impact and success of a feature after its release, based on predefined metrics and user feedback. Crucial for understanding the effectiveness of features and informing future development.