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.
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 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 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 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 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.
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.
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 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 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.
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 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.
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.
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 process of determining whether there is a need or demand for a product in the target market, often through testing and feedback. Crucial for ensuring that a product will meet market needs and be successful.
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.
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.
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.
The process of defining a product's objectives, strategy, and roadmap, ensuring alignment with market needs and business goals. Important for setting a clear direction for product development and ensuring strategic alignment.
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.
A role focused on driving user acquisition, engagement, and retention through data-driven strategies and experiments. Essential for scaling products and optimizing user growth.
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 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.
A metaphor for a balanced approach to product development, considering three core aspects: business viability, technical feasibility, and user desirability. Crucial for ensuring comprehensive and balanced product decisions.
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.
The primary brand in a brand architecture that serves as the foundation for all sub-brands and extensions. Essential for providing a unified brand strategy and leveraging brand equity across multiple products.
The process of maintaining, updating, and improving a product or system after its initial deployment to ensure its continued functionality, performance, and relevance to users. Crucial for ensuring long-term user satisfaction, product reliability, and adaptation to changing user needs and technological advancements.
A brief description of how a product, service, or brand meets the needs of its target audience and stands out from competitors. Crucial for defining the unique value proposition and guiding marketing strategies for digital products.
Reasons to Believe (RTB) is a marketing concept that refers to the evidence or arguments that support a product's claims and persuade consumers of its benefits. Essential for building trust and credibility with customers.
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 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.
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.
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 cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
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.
The process of distinguishing a product or service from its competitors in a way that is meaningful to the target market. Important for creating a unique value proposition and gaining a competitive edge.
Impact, Confidence, and Ease of implementation (ICE) is a prioritization framework used in product management to evaluate features. Essential for making informed and strategic decisions about feature development and prioritization.
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.
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 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.
The process of overseeing and coordinating the development, testing, and deployment of software releases to ensure they are delivered efficiently and effectively. Essential for managing software development cycles and ensuring successful product releases.
A deployment strategy where a new version is released to a small subset of users to detect any issues before a full rollout. Crucial for minimizing risk and ensuring the stability of digital products during updates and deployments.
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.
Business Process Management Software (BPMS) refers to tools and systems that help organizations design, model, execute, monitor, and optimize their business processes. Essential for improving operational efficiency and ensuring that digital products support effective business processes.
The strategic objectives that an organization aims to achieve, guiding its operations and decision-making processes. Important for aligning digital product development with the broader mission and objectives of the organization.
A strategic plan that outlines the goals, milestones, and steps needed to deliver a product that achieves desired outcomes incrementally, providing a clear path forward. Essential for guiding product development and ensuring alignment with strategic objectives.
An approach to design that aligns design activities with strategic business goals, ensuring that design contributes to overall organizational success. Essential for integrating design into the strategic planning process and achieving business objectives.
The process of identifying, assessing, and mitigating potential threats that could impact the success of a digital product, including usability issues, technical failures, and user data security. Essential for maintaining product reliability, user satisfaction, and data protection, while minimizing the impact of potential design and development challenges.
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.
A productivity technique that involves tackling the most challenging task first thing in the morning. Important for boosting productivity and overcoming procrastination.
A strategy used to determine the proportion of various SMEs needed to support a pipeline of work. Important for optimizing resource allocation, enhancing efficiency, and ensuring teams have the appropriate support based on design demand and complexity.
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.
A psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, ranging from basic physiological needs to self-actualization. Crucial for designing products and services that address various levels of user needs.
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.
A cognitive bias where people prefer a smaller set of higher-quality options over a larger set with lower overall quality. Useful for designing product offerings and experiences that emphasize quality over quantity for users.
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 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 measuring and analyzing data about digital product adoption, usage, and performance to inform business decisions. Crucial for making data-driven decisions that improve product performance and user satisfaction.
A brand architecture strategy where multiple distinct brands are managed under a single parent company. Crucial for managing diverse product lines and maximizing market reach.
A high-level description of a system's structure and interactions, focusing on its market-facing aspects rather than technical details. Useful for communicating the value and structure of a digital product to non-technical stakeholders and aligning with market needs.