Labor Illusion
A phenomenon where users perceive greater value in a service or product if they believe more effort was involved in its creation or delivery. Important for enhancing perceived value and user satisfaction.
174 topics found for:
“value enhancement”
Value Risk
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.
Enrichments
Features or elements added to enhance the functionality or user experience of a system. Crucial for improving user engagement and satisfaction by adding valuable enhancements.
Stream-Aligned Team
A team structure focused on delivering value streams, often organized around a specific business capability or customer need. Crucial for enhancing delivery efficiency and aligning with business goals.
Mid-Tier Value
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.
Value Proposition
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.
Paradox of Value
An economic theory that explains why some necessities, such as water, are less expensive than non-essentials, like diamonds, despite their greater utility. Useful for understanding consumer behavior and designing pricing strategies.
Instrumental Value
The worth of something based on its ability to help achieve a desired end or goal. Useful for understanding and prioritizing design elements that contribute to user goals.
Gemba
A Japanese term meaning "the real place," used in Lean management to describe the place where value is created. Important for understanding the actual processes and identifying areas for improvement.
Brand Equity
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty. Crucial for understanding the long-term value of a brand and its impact on business success.
Product Optimization
The process of continuously improving a product's performance, usability, and value through data-driven decisions and iterative enhancements. Crucial for ensuring that a product remains competitive and meets evolving user needs.
Lean Management
A methodology that focuses on minimizing waste and maximizing value in business processes. Essential for improving efficiency, productivity, and customer satisfaction by eliminating non-value-adding activities.
IKEA Effect
The tendency for people to value products more highly if they have put effort into assembling them. Important for understanding user satisfaction and product attachment.
Endowment Effect
A cognitive bias where people ascribe more value to things merely because they own them. Useful for understanding user attachment and designing persuasive experiences.
WSJF
Weighted Shortest Job First (WSJF) is a prioritization method used in agile and lean methodologies to maximize value by comparing the cost of delay to the duration of tasks. Essential for effectively prioritizing work to ensure the highest value tasks are completed first.
Bundling Bias
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.
Design Advocacy
The practice of promoting and defending the value of design within an organization or community. Crucial for ensuring that design considerations are prioritized and integrated into decision-making processes.
TTV
Time to Value (TTV) is a metric that measures the time it takes for a customer to realize the value of a product or service after purchase. Crucial for optimizing customer satisfaction and improving business outcomes.
Co-Branding
A marketing strategy where two brands collaborate to create a product or service that leverages the strengths of both. Crucial for expanding market reach and enhancing brand value through strategic partnerships.
Scarcity Principle
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior. Important for creating urgency and increasing perceived value in marketing.
Effort Justification
A cognitive bias where people attribute greater value to outcomes that required significant effort to achieve. Useful for designing experiences that recognize and reward user effort and persistence.
MMF
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.
Minimize Waste
A principle in lean management aimed at reducing non-value-added activities to improve efficiency. Important for optimizing processes and resource use.
Lean Software Development
An agile methodology focused on delivering value to the customer through principles such as eliminating waste, amplifying learning, and delivering as fast as possible. Crucial for improving efficiency and effectiveness in software development processes.
Cross-Selling
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
Numerosity Bias
The tendency to perceive a greater quantity as a better value, regardless of the actual utility. Important for understanding consumer behavior and designing effective marketing strategies.
Digital Transformation
The integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers. Essential for staying competitive and relevant in a rapidly evolving digital landscape.
Product Owner
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.
Contrast Effect
The enhancement or diminishment of perception, cognition, or related performance as a result of exposure to a stimulus of greater or lesser value in the same dimension. Useful for designing interfaces that leverage contrasting elements to guide user attention and behavior.
FDD
Feature Driven Development (FDD) is an agile methodology focused on designing and building features based on client-valued functionality. Essential for delivering client-valued features efficiently and effectively.
Marketecture
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.
UBP
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.
Competitive Differentiator
A unique attribute, feature, or capability of a product, service, or brand that sets it apart from competitors in the market. Essential for identifying and leveraging unique selling points to create a competitive advantage, enhance brand value, and attract and retain customers in the market.
Strategic Differentiation
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.
Commodification of Design
The process where design services and outputs become standardized and interchangeable, often leading to competition based primarily on price rather than quality or creativity. Important for understanding market trends and pressures that reduce the perceived value and uniqueness of design work, impacting pricing and differentiation strategies.
Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
Agile Manifesto
A declaration of the values and principles essential for agile software development. Foundational for understanding the ethos of agile methodologies.
Chivas Regal Effect
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality. Useful for understanding consumer perceptions and designing effective pricing strategies.
Action Priority Matrix
A tool used to prioritize tasks based on their impact and effort, helping to focus on high-value activities. Important for prioritizing tasks effectively to maximize impact with minimal effort.
Scarcity
A psychological principle where people place higher value on objects or opportunities that are perceived to be limited or rare. Important for understanding consumer behavior and designing marketing strategies that leverage perceived scarcity.
Business Logic
The part of an application that encodes the real-world business rules that determine how data is created, stored, and modified. Crucial for ensuring that digital products align with business processes and deliver value to users.
Decision Utility
The value or satisfaction derived from a decision, influencing the choices people make. Crucial for understanding user preferences and designing experiences that maximize satisfaction.
Program Increment
A time-boxed period in which Agile teams deliver incremental value in the form of working, tested software and systems. Essential for aligning teams, managing dependencies, and ensuring continuous delivery.
B2B2C
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
ART
Agile Release Train (ART) is a long-lived team of Agile teams that, along with other stakeholders, incrementally develops, delivers, and operates one or more solutions in a value stream. Important for coordinating Agile development and delivery at scale.
5V’s of Big Data
Characteristics of big data defined as Volume, Velocity, Variety, Veracity, and Value. Important for understanding the complexities and potential of big data in driving business insights and innovation.
Buy-a-Feature
A prioritization technique where stakeholders use a limited budget to "buy" features they believe are most valuable, helping to prioritize the development roadmap. Useful for involving stakeholders in the decision-making process and aligning development priorities with business value.
DSDM
Dynamic Systems Development Method (DSDM) is an agile project delivery framework focused on delivering business value early and continuously. Essential for ensuring that projects align with business goals and user needs through iterative processes.
Business Agility
The ability of an organization to adapt quickly to market changes and external forces while maintaining a focus on delivering value. Essential for fostering an adaptable and resilient design and development process.
Muda
A Japanese word meaning any activity in a process that consumes resources without adding value. Crucial for identifying and eliminating inefficiencies to optimize workflows and resources.
Design Maturity
The level of sophistication and integration of design practices within an organization's processes and culture. Essential for assessing and improving the effectiveness of design in driving business value and innovation.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice. Important for guiding user decisions and increasing the perceived value of targeted pricing tiers.
Brand Canon
The established set of core values, stories, and attributes that define a brand's identity and guide its communications. Essential for maintaining brand consistency and authenticity.
Attention Economy
An economic approach that treats human attention as a scarce commodity, focusing on capturing and retaining user attention. Crucial for understanding user engagement and designing products that effectively capture and retain attention.
Business Model Canvas
A strategic management template for developing new business models or documenting existing ones, detailing elements like value proposition, infrastructure, and customers. Important for understanding and designing business strategies that align with product and user experience goals.
RFM
Recency, Frequency, Monetary (RFM) analysis is a marketing technique used to evaluate and segment customers based on their purchasing behavior. Essential for targeting high-value customers and optimizing marketing strategies.
Vanity Metrics
Metrics that may look impressive but do not provide meaningful insights into the success or performance of a product or business, such as total page views or social media likes. Important for distinguishing between metrics that drive real business value and those that do not.
CX
Customer Experience (CX) is the overall perception and feeling a customer has when interacting with a company, its products, or services. Crucial for ensuring positive interactions with a company, driving loyalty and satisfaction.
Startup Culture
The set of shared values, practices, and goals that characterize a startup company. Important for fostering innovation, agility, and a collaborative environment within product design teams.
Social Proof
A psychological phenomenon where people follow the actions of others in an attempt to reflect correct behavior for a given situation. Essential for designing interfaces and experiences that leverage social influence to guide user behavior and increase trust and engagement.