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.
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.
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.
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.
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.
Application Lifecycle Management (ALM) is the process of managing an application's development, maintenance, and eventual retirement throughout its lifecycle. Important for ensuring the sustainability and effectiveness of digital products over time.
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.
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.
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.
A visual workflow management method used to visualize work, limit work-in-progress, and maximize efficiency. Crucial for improving workflow and productivity in various processes.
A product development methodology that emphasizes shaping work before starting it, fixing time and team size but leaving scope flexible to ensure high-quality outcomes. Crucial for managing product development efficiently and delivering high-quality results within constraints.
A detailed strategy outlining the timeline, milestones, and deliverables for a product release, ensuring that all activities are aligned and completed on schedule. Essential for coordinating efforts and ensuring a successful product launch.
A principle that states tasks always take longer than expected, even when considering Hofstadter's Law itself. Important for setting realistic project timelines and managing expectations in digital product development.
The systematic computational analysis of data or statistics to understand and improve business performance. Essential for data-driven decision making in design, product management, and marketing.
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.
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.
The process of systematically collecting, analyzing, and acting on feedback from users to improve products and services. Essential for ensuring that user insights are effectively integrated into the development process.
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.
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
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 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 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.
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.
Minimum Viable Experience (MVE) is the simplest version of a product that delivers a complete and satisfying user experience while meeting core user needs. Essential for rapidly validating product concepts and user experience designs while ensuring that even early versions of a product provide value and a positive impression to users.
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.
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.
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.
Build-Measure-Learn (BML) is a feedback loop used in Lean Startup methodology where a product is built, its performance is measured, and learnings are used to make improvements. Essential for iterating quickly and efficiently to create products that better meet user needs and market demands.
Quality Function Deployment (QFD) is a method used to transform customer needs into engineering characteristics for a product or service. Essential for ensuring that customer requirements are systematically incorporated into the design and development process.
The systematic investigation of competitor activities, products, and strategies to gain insights and inform decision-making. Crucial for staying competitive and improving product and service offerings.
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
CSAT (Customer Satisfaction) measures how products or services provided by a company meet or exceed customer expectations. Essential for understanding customer needs and improving product offerings.
Social, Technological, Economic, Environmental, Political, Legal, and Ethical (STEEPLE) is an analysis tool that examines the factors influencing an organization. Crucial for comprehensive strategic planning and risk management in product design.
A phenomenon where vivid mental images can interfere with actual perception, causing individuals to mistake imagined experiences for real ones. Important for ensuring that marketing and product design set realistic user expectations to avoid disappointment and maintain brand integrity.
Quantitative measures used to track and assess the performance and success of a product, such as usage rates, customer satisfaction, and revenue. Essential for making data-driven decisions to improve product performance and achieve business goals.
Product Strategy is a framework that outlines how a product will achieve its business goals and satisfy customer needs. Crucial for guiding product development, prioritizing features, and aligning the team around a clear vision.
The financial performance of a product, measured by its ability to generate revenue and profit relative to its costs and expenses. Important for assessing the financial success of a product and making informed business decisions.
The speed at which users start using a new product, typically measured as a percentage of the target market over a specific period. Essential for evaluating the success of a product launch and planning subsequent strategies.
The risk that the product being developed will not deliver sufficient value to the users, meaning it won't meet their needs or solve their problems. Critical for ensuring the product will be desirable and valuable to the users, which is essential for its success.
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.
Minimum Viable Feature (MVF) is the smallest possible version of a feature that delivers value to users and allows for meaningful feedback collection. Crucial for rapid iteration in product development, enabling teams to validate ideas quickly and efficiently while minimizing resource investment.
User Experience (UX) refers to the overall experience of a person using a product, system, or service, encompassing all aspects of the end-user's interaction. Crucial for creating products that are not only functional but also enjoyable, efficient, and satisfying to use.
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.
A product development approach where teams start with the desired customer experience and work backwards to determine what needs to be built to achieve that outcome. Essential for ensuring that product development is aligned with customer needs and expectations.
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
A framework for prioritizing product features based on their impact on customer satisfaction, classifying features into categories such as basic, performance, and delight. Crucial for understanding customer needs and prioritizing features that enhance satisfaction.
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
An interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from structured and unstructured data. Essential for driving data-informed decision making, predicting trends, and uncovering valuable insights in digital product design and development.
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively. Crucial for making objective and balanced decisions in project management and product development.
A measure used in Agile project management to quantify the amount of work a team can complete in a given sprint, typically measured in story points. Crucial for planning and forecasting in Agile projects and understanding team capacity.
A system where outputs are fed back into the process as inputs, allowing for continuous improvement based on user responses. Crucial for iterative development and continuous improvement in design and product management.
The percentage of users who continue to use a product or service over a specified period, indicating user loyalty and engagement. Essential for assessing the effectiveness of user retention strategies and improving user experience.
A brand architecture strategy where all products share a common brand name and identity. Essential for creating a cohesive brand image and leveraging brand equity across products.
A type of data visualization that uses dots to represent values for two different numeric variables, plotted along two axes. Essential for identifying relationships, patterns, and outliers in datasets used in digital product design and analysis.
A cognitive bias where people underestimate the complexity and challenges involved in scaling systems, processes, or businesses. Important for understanding the difficulties of scaling and designing systems that address these challenges.
Feature Adoption Rate (FAR) is the percentage of users who adopt a new feature within a specified time period after its release. This metric is important for measuring the success and impact of new product features.
A behavioral economics concept where people categorize and treat money differently depending on its source or intended use. Crucial for understanding financial behavior and designing systems that align with users' mental accounting practices.
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.