The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics, needs, or behaviors. Important for tailoring marketing strategies and product offerings to specific customer groups.
A phenomenon where people perceive an item as more valuable when it is free, leading to an increased likelihood of choosing the free item over a discounted one. Important for understanding consumer behavior and designing effective marketing strategies.
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.
Products manufactured by one company for sale under another company's brand name. Important for retailers to offer exclusive products and build customer loyalty.
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
In-product assistance provided within the context of a specific task or screen, tailored to the user's current needs. Important for enhancing user experience by providing timely and relevant assistance.
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.
Unique Buying Proposition (UBP) is a statement that highlights the unique benefits and value a product or service offers to customers. Crucial for differentiating a product in the market and attracting customers.
The value or satisfaction derived from a decision, influencing the choices people make. Crucial for understanding user preferences and designing experiences that maximize satisfaction.
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 decision-making strategy where individuals are prompted to make a choice rather than defaulting to a pre-set option. Useful for increasing user engagement and ensuring intentional decision-making.
A statement that explains the unique value a product or service provides to its customers, differentiating it from competitors. Essential for communicating the benefits and advantages of a product to attract and retain customers.
The ability of users to influence the behavior and outcomes of a system or product, allowing them to interact with it according to their preferences. Essential for creating user-friendly interfaces that allow for flexibility and customization.
A psychological model that outlines the stages individuals go through to change behavior, including precontemplation, contemplation, preparation, action, and maintenance. Crucial for designing interventions and experiences that support users at different stages of behavior change.
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
A set of algorithms, modeled loosely after the human brain, designed to recognize patterns and perform complex tasks. Essential for developing advanced AI applications in various fields.
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.
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.
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.
Research aimed at exploring and identifying new opportunities, needs, and ideas to inform the design process. Essential for discovering user insights and guiding innovative design solutions.
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones. Important for understanding user preferences and designing experiences that account for time-based value perceptions.
The use of data from digital devices to measure and understand individual behavior and health patterns. Crucial for developing personalized user experiences and health interventions.
A recommendation system technique that suggests items similar to those a user has shown interest in, based on item features. Important for providing personalized recommendations and improving user satisfaction.
A step-by-step guide that helps users complete a complex task by breaking it down into manageable steps. Crucial for improving usability and ensuring users can successfully complete multi-step processes.
A guided, interactive overlay that introduces users to features or tasks within an application. Crucial for onboarding new users and enhancing user understanding of complex features.
The degree to which users feel they have control over their actions and decisions when interacting with a product or system. Crucial for designing systems that empower users and enhance their sense of control and satisfaction.
The use of natural language processing to identify and extract subjective information from text, determining the sentiment expressed. Crucial for understanding public opinion and customer feedback.
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
The Principle of Choices is an information architecture guideline that emphasizes providing users with meaningful options to navigate and interact with a system. Crucial for enhancing user experience by ensuring users can easily find what they need without being overwhelmed.
The use of statistical techniques and algorithms to analyze historical data and make predictions about future outcomes. Important for optimizing marketing strategies and anticipating customer needs.
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 framework for understanding what drives individuals to act, involving theories such as Maslow's hierarchy of needs. Important for designing products and experiences that align with users' intrinsic and extrinsic motivations.
ModelOps (Model Operations) is a set of practices for deploying, monitoring, and maintaining machine learning models in production environments. Crucial for ensuring the reliability, scalability, and performance of AI systems throughout their lifecycle, bridging the gap between model development and operational implementation.