Product Management is the organizational function responsible for guiding every stage of a product's lifecycle, from development to positioning and pricing, by focusing on the product and its customers first and foremost. It involves identifying customer needs, defining product vision, and working with engineering, marketing, sales, and support to ensure that customer satisfaction and company goals are met.
AARRR Pirate Metrics is a framework used in product management to measure and optimize the customer lifecycle. It stands for Acquisition, Activation, Retention, Referral, and Revenue, providing a comprehensive approach to tracking and improving key performance indicators (KPIs) throughout the customer journey.
A/B testing is a method used in product management to compare two versions of a product feature or design to determine which one performs better with users.
A/B testing is a method used in product management to compare two versions of a product or feature to determine which one performs better. It involves randomly showing different versions to users and analyzing their responses to make data-driven decisions.
Acceptance Criteria are a set of predefined requirements that a product or feature must meet to be considered complete and ready for release. They serve as a clear checklist for the development team and stakeholders to ensure that the final product aligns with the intended functionality and quality standards.
An Acceptance Test is a formal evaluation process used in product development to determine whether a product or feature meets specified requirements and is ready for release to end-users.
An Action Priority Matrix is a decision-making tool used in product management to prioritize tasks and initiatives based on their impact and effort. It helps product managers focus on high-impact, low-effort activities for maximum efficiency.
Adaptive Software Development (ASD) is an agile project management approach that embraces continuous change and adaptation in software development processes. It focuses on collaboration, learning, and rapid delivery of high-quality software products in uncertain and evolving environments.
An Affinity Diagram is a visual tool used in product management to organize and group large amounts of data, ideas, or insights based on their natural relationships. It helps teams identify patterns, prioritize information, and generate new ideas during brainstorming sessions or user research analysis.
Affinity Grouping is a collaborative technique used in product management to organize and categorize large amounts of information, ideas, or data into related groups based on their natural relationships or similarities.
Agile in product management is an iterative and flexible approach to developing and delivering products. It emphasizes collaboration, adaptability, and continuous improvement to meet customer needs and market demands more effectively.
The Agile Definition of Done (DoD) is a clear, agreed-upon set of criteria that a product increment must meet to be considered complete in an Agile project. It serves as a quality checklist that ensures all team members have a shared understanding of what it means for work to be finished.
An Agile Framework is a structured approach to project management and product development that emphasizes flexibility, collaboration, and rapid iteration. It provides guidelines and practices for teams to deliver high-quality products efficiently while adapting to changing requirements and customer needs.
The Agile Manifesto is a set of four values and twelve principles that guide agile software development and project management. It emphasizes flexibility, collaboration, and customer-centric approaches in product development.
Agile Principles in Product Management are a set of guiding values and practices that emphasize flexibility, collaboration, and customer-centricity in product development. These principles promote iterative progress, adaptive planning, and continuous improvement to deliver high-quality products that meet customer needs efficiently.
An Agile Product Owner is a key role in Agile product development, responsible for maximizing the value of the product by defining and prioritizing the product backlog, collaborating with stakeholders, and ensuring the development team understands requirements.
An Agile Release Train (ART) is a long-lived team of Agile teams, typically consisting of 50-125 individuals, that develops and delivers solutions incrementally using agile methods and a common cadence.
Agile Transformation is the process of shifting an organization's culture, structure, and practices to embrace Agile methodologies, enabling faster, more flexible, and customer-centric product development and delivery.
Agile Values in Product Management are the core principles that guide agile methodologies, emphasizing customer collaboration, adaptability to change, and iterative development to deliver high-quality products efficiently.
Alpha testing is an early-stage evaluation of a product or software conducted internally by the development team or a select group of users to identify bugs, usability issues, and areas for improvement before the product is released to a wider audience.
Alpha testing is an early-stage software testing phase conducted by internal teams or a select group of external users to identify bugs and usability issues before a product is released to a wider audience.
Annual Recurring Revenue (ARR) is a key metric in product management and SaaS businesses that represents the total value of recurring revenue from subscriptions or contracts over a 12-month period.
A product backlog is a prioritized list of features, improvements, and fixes that need to be completed for a product. It serves as the single source of work for the product development team.
Backlog grooming, also known as backlog refinement, is the process of reviewing, updating, and prioritizing items in a product backlog to ensure the development team has a clear, well-defined list of tasks for upcoming sprints.
Behavioral Product Management is an approach to product development that incorporates principles from behavioral economics and psychology to better understand and influence user behavior, ultimately leading to more effective and user-centric products.
Beta testing is a crucial phase in product development where a nearly finished product is released to a limited group of real users to gather feedback, identify bugs, and assess user experience before the official launch.
Beta testing is a crucial phase in product development where a nearly finished product is released to a limited group of real users to gather feedback, identify bugs, and assess user experience before the official launch.
A Bill of Materials (BOM) is a comprehensive list of all the components, parts, raw materials, and sub-assemblies required to manufacture a product, along with their quantities and relationships.
Bubble Sort in Product Management is a prioritization technique used to organize and rank product features or tasks based on their relative importance or value. It involves comparing adjacent items in a list and swapping them if they are in the wrong order, repeating this process until the entire list is sorted.
Bucket Sort in Product Management is a prioritization technique used to categorize and organize product features, ideas, or tasks into predefined "buckets" or categories based on specific criteria, such as importance, urgency, or strategic alignment.
A Burndown Chart is a visual representation of work left to do versus time in a project, typically used in Agile project management to track progress and predict completion dates.
Business Agility is the ability of an organization to quickly adapt to market changes, respond to customer needs, and pivot strategies while maintaining productivity and innovation. It involves flexible processes, cross-functional collaboration, and a culture that embraces change and continuous improvement.
Business Intelligence (BI) in product management is the process of collecting, analyzing, and presenting data to make informed decisions about product strategy, development, and performance. It involves using various tools and techniques to gather insights from multiple sources, helping product managers understand market trends, customer behavior, and product performance metrics.
A Business Model Canvas is a strategic management tool that provides a visual framework for developing, describing, and analyzing a business model. It consists of nine key building blocks that cover the main areas of a business: customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
Business transformation is a strategic process of fundamentally changing an organization's operations, systems, and culture to improve performance, adapt to market changes, and achieve long-term success. In product management, it often involves reimagining products, services, and processes to meet evolving customer needs and stay competitive.
Buy A Feature is a collaborative prioritization technique used in product management where participants are given a limited budget to "purchase" potential features, helping teams understand which features are most valued by customers or stakeholders.
A buyer persona is a detailed, semi-fictional representation of your ideal customer based on market research and real data about your existing customers. It helps product managers and marketers understand their target audience's needs, behaviors, and preferences to create more effective products and marketing strategies.
Cannibalization in product management occurs when a new product or feature reduces sales or market share of an existing product within the same company's portfolio.
Captive Product Pricing is a pricing strategy in product management where a company prices a main product (the "captive" product) at a low or competitive rate, while charging higher prices for necessary, complementary products or services.
A Certified Product Manager is a professional who has obtained a recognized certification in product management, validating their skills, knowledge, and expertise in the field through standardized assessments and industry-recognized programs.
Change Enablement in Product Management is the process of facilitating and supporting organizational changes that occur when introducing new products, features, or processes. It involves preparing, equipping, and supporting individuals to successfully adopt changes to drive organizational success and outcomes.
Change Management in Product Management is the process of planning, implementing, and overseeing modifications to products, processes, or organizational structures to achieve desired outcomes while minimizing disruption and resistance.
Change Management Principles in Product Management are a set of guidelines and strategies used to effectively plan, implement, and manage changes in products, processes, or organizational structures while minimizing disruption and maximizing adoption.
Channels of Distribution in product management refer to the various pathways and methods through which a product reaches its end consumers from the manufacturer or producer. These channels can include direct sales, retailers, wholesalers, e-commerce platforms, and other intermediaries involved in making the product available to customers.
A Chief Product Officer (CPO) is a senior executive responsible for overseeing all product-related activities within an organization. They lead the product management team, define product strategy, and ensure that products align with the company's overall vision and goals.
Churn, in product management, refers to the rate at which customers stop using a product or service over a given period. It's a crucial metric that measures customer attrition and helps product managers assess customer satisfaction and product sustainability.
Churn rate is a metric that measures the percentage of customers or users who stop using a product or service over a specific period of time.
The CIRCLES Method is a structured framework used in product management for answering interview questions and solving product design challenges. It stands for Comprehend, Identify, Report, Conclude, List, Explain, and Synthesize, providing a systematic approach to analyze and solve complex product problems.
Competitive Intelligence in product management is the process of gathering, analyzing, and using information about competitors, market trends, and industry dynamics to make informed strategic decisions and gain a competitive advantage.
A competitive landscape in product management is a comprehensive analysis of the market environment, including direct and indirect competitors, their products, strategies, and market positions. It helps product managers understand their product's place in the market and make informed decisions about product development and strategy.
Competitor analysis in product management is the process of evaluating and understanding the strengths, weaknesses, strategies, and market position of competing products or companies to inform decision-making and improve your own product's competitive advantage.
A Concept Review in product management is a structured evaluation process where product ideas or concepts are assessed for their viability, potential value, and alignment with business goals before significant resources are invested in development.
Continuous Delivery is a software development practice where code changes are automatically prepared for release to production. It extends continuous integration by deploying all code changes to a testing environment and/or production environment after the build stage.
Continuous Deployment is a software development practice where code changes are automatically built, tested, and deployed to production environments without manual intervention.
Continuous Improvement in product management is an ongoing effort to enhance products, processes, and services through incremental changes and innovations. It involves regularly evaluating and refining various aspects of product development and management to increase efficiency, quality, and customer satisfaction.
Continuous Integration (CI) is a software development practice where team members frequently integrate their code changes into a shared repository, typically several times a day. Each integration is verified by an automated build and test process, allowing teams to detect and fix issues quickly.
Conversion rate is a key metric in product management that measures the percentage of users who take a desired action, such as making a purchase or signing up for a service, out of the total number of visitors or users.
Cost of Delay (CoD) is a product management concept that quantifies the economic impact of delaying a product or feature release. It helps teams prioritize work by understanding the financial consequences of not delivering value to customers quickly.
A cross-functional team is a group of professionals from different departments or areas of expertise who work together to achieve a common goal or complete a specific project in product development.
The Crystal Agile Framework is a lightweight, adaptable approach to software development that emphasizes people, interactions, and simplicity. It focuses on delivering working software quickly while allowing teams to tailor their processes based on project size, criticality, and priorities.
Customer Acquisition Cost (CAC) is a metric that measures the total cost of acquiring a new customer for a business, including marketing and sales expenses.
A Customer Advisory Board (CAB) is a group of strategic customers who meet regularly with a company's leadership to provide feedback, insights, and guidance on product strategy, roadmap, and industry trends.
Customer centric in product management is an approach that prioritizes understanding and meeting customer needs, preferences, and pain points throughout the entire product development lifecycle. It involves making decisions and designing products based on customer feedback, data, and insights to create solutions that truly resonate with the target audience.
Customer Development is a systematic approach in product management that focuses on understanding customer needs, validating product ideas, and iterating based on customer feedback before fully developing a product.
Customer empathy in product management is the ability to understand and share the feelings, thoughts, and experiences of customers, allowing product managers to create solutions that truly address user needs and pain points.
Customer Experience (CX) in product management refers to the overall perception and feelings a customer has when interacting with a product or service throughout their entire journey, from discovery to purchase and beyond.
Customer feedback is information provided by users or customers about their experiences, opinions, and satisfaction with a product or service. It helps product managers understand user needs, identify areas for improvement, and make data-driven decisions to enhance the product.
A Customer Journey Map is a visual representation of the entire experience a customer has with a product or service, from initial awareness to post-purchase interactions. It outlines the steps, touchpoints, and emotions a customer experiences throughout their journey, helping product managers and teams identify opportunities for improvement and optimize the overall customer experience.
Customer retention is the ability of a company to keep its existing customers over time, typically measured as a percentage of customers who continue to use a product or service over a specific period.
Customer Success in Product Management is a proactive approach focused on ensuring customers achieve their desired outcomes while using a product or service. It involves understanding customer needs, providing ongoing support, and continuously improving the product to maximize customer satisfaction and retention.
Customer validation is a critical process in product management where product teams verify that their product or feature solves real customer problems and meets market needs. It involves gathering feedback from potential customers to confirm the product's value proposition, features, and overall viability before full-scale development or launch.
Daily Active Users (DAU) is a key metric in product management that measures the number of unique users who engage with a product or service within a 24-hour period.
A Data Product Manager is a specialized role in product management that focuses on developing and managing data-driven products or features. They bridge the gap between technical data teams and business objectives, ensuring that data is effectively utilized to create value for users and the organization.
Dependency Management in Product Management is the process of identifying, tracking, and coordinating the relationships and interdependencies between different components, features, or tasks within a product development lifecycle.
Design in product management is the process of creating user-centered solutions that address customer needs, enhance user experience, and align with business goals. It involves conceptualizing, planning, and iterating on product features and interfaces to deliver value to users and stakeholders.
A design concept in product management is a preliminary visual or functional representation of a product idea that outlines its core features, user interface, and overall user experience. It serves as a foundation for further development and refinement in the product creation process.
Design Thinking is a problem-solving approach used in product management that focuses on understanding user needs, challenging assumptions, and creating innovative solutions through iterative prototyping and testing.
DevOps in Product Management is a collaborative approach that combines software development (Dev) and IT operations (Ops) to streamline the product lifecycle, improve efficiency, and deliver high-quality products faster.
Product differentiation is a strategy in product management that involves creating and highlighting unique features, benefits, or characteristics of a product to make it stand out from competitors in the market.
A Digital Product Manager is a professional responsible for overseeing the development and success of digital products such as websites, mobile apps, or software platforms. They combine traditional product management skills with digital expertise to guide products through their lifecycle, from conception to launch and beyond.
Digital transformation in product management is the process of leveraging digital technologies to fundamentally change how products are designed, developed, and delivered to create more value for customers and improve business operations.
Disciplined Agile is a flexible, context-driven approach to product management and software development that combines various agile and lean practices to create a tailored process for each organization or project.
Discovery in product management is the process of exploring and validating product ideas, customer needs, and market opportunities before committing resources to development. It involves research, experimentation, and learning to reduce uncertainty and increase the likelihood of building successful products.
Divergent thinking in product management is a creative problem-solving approach that involves generating multiple, diverse ideas or solutions to address a challenge or opportunity in product development.
Dual Track Agile is a product development approach that combines two parallel tracks: discovery and delivery. The discovery track focuses on validating product ideas and user needs, while the delivery track concentrates on building and shipping the validated features.
The End User Era in product management refers to a shift in focus where products are primarily designed and developed with the end user's needs, preferences, and experiences at the forefront, rather than solely based on business or technical requirements.
An enterprise in product management refers to a large-scale organization or business that typically has complex needs, multiple departments, and a significant customer base. These organizations often require sophisticated products or solutions to manage their operations, data, and processes efficiently.
Enterprise Architecture Planning (EAP) is a strategic process that aligns an organization's business goals with its IT infrastructure and systems. It involves creating a comprehensive blueprint for implementing and managing information technology across the enterprise to support long-term business objectives and improve overall efficiency.
An Enterprise Architecture Roadmap is a strategic planning tool that outlines the steps and milestones for aligning an organization's IT infrastructure with its business goals over time. It provides a clear path for transforming the current state of an enterprise's architecture to its desired future state.
Enterprise Feedback Management (EFM) is a systematic approach to collecting, analyzing, and acting on customer and employee feedback across an organization to improve products, services, and overall business performance.
Enterprise Transformation is a comprehensive, strategic approach to fundamentally change how an organization operates, leveraging technology, processes, and people to achieve significant improvements in efficiency, innovation, and overall business performance.
An Epic in product management is a large, high-level work item that represents a significant feature or functionality. It's typically broken down into smaller, more manageable user stories or tasks for implementation.
Epics in product management are large, high-level user stories or features that can be broken down into smaller, more manageable tasks. They represent significant pieces of work that deliver substantial business value and typically span multiple sprints or iterations in an Agile development process.
A feature is a specific functionality or characteristic of a product that provides value to users and helps solve their problems or meet their needs.
A Feature Audit is a systematic process in product management where existing features of a product are evaluated for their effectiveness, usage, and alignment with business goals and user needs.
Feature bloat, also known as feature creep or scope creep, is the excessive addition of features to a product, often resulting in unnecessary complexity, reduced usability, and increased development costs.
Feature Driven Development (FDD) is an iterative and incremental software development process that emphasizes designing and building features. It is a customer-centric approach that organizes development work around delivering tangible, working features in short time frames.
A Feature Factory is a product development approach where teams focus primarily on churning out new features without sufficient consideration for their impact on user value or business outcomes. This approach often prioritizes quantity over quality and can lead to bloated products that don't effectively meet user needs.
Feature Outcome Assessment is a systematic process in product management used to evaluate the success and impact of a newly implemented feature. It involves measuring and analyzing the outcomes of a feature against predefined goals and metrics to determine its effectiveness and value to the product and users.
A Finance Product Manager is a specialized product management role focused on developing and managing financial products and services. They combine product management skills with financial expertise to create innovative solutions that meet the needs of customers in the finance industry.
The Five Whys is a problem-solving technique used in product management to identify the root cause of an issue by repeatedly asking "why" five times. This method helps product managers dig deeper into problems, uncovering underlying causes rather than just addressing surface-level symptoms.
The Five Whys (5 Whys) is a problem-solving technique used in product management to identify the root cause of an issue by repeatedly asking "why" five times. This method helps product managers dig deeper into problems, uncovering underlying causes rather than just addressing surface-level symptoms.
A Fundamentally New Product is an innovative offering that introduces a completely novel solution or approach to addressing customer needs, often creating new markets or disrupting existing ones.
A Gantt chart is a visual project management tool that displays tasks, their durations, and dependencies along a timeline, helping teams track progress and manage resources effectively.
"Get Out Of The Building" is a product management concept that emphasizes the importance of directly engaging with customers and users in their own environments to gain firsthand insights and validate assumptions about product ideas and market needs.
A Go To Market (GTM) strategy is a comprehensive plan that outlines how a company will reach its target customers and achieve competitive advantage. It encompasses the tactics and actions necessary to successfully launch a new product or enter a new market.
A Go-to-Market (GTM) Strategy is a comprehensive plan that outlines how a company will reach its target customers and achieve competitive advantage. It defines the messaging, sales channels, and tactics used to introduce and sell a new product or enter a new market.
A Group Product Manager (GPM) is a senior-level product management role responsible for overseeing multiple product lines or a portfolio of products within an organization. They lead a team of product managers, align product strategies with company goals, and drive the overall success of their product group.
Growth Product Management is a specialized approach within product management that focuses on driving user acquisition, engagement, retention, and revenue growth through data-driven experimentation and optimization of product features and user experiences.
Hard skills in product management are specific, measurable abilities that are essential for effectively developing and managing products. These skills typically include technical knowledge, data analysis, project management, and proficiency with relevant software tools.
The HEART Framework is a user-centered measurement approach developed by Google to evaluate the quality of user experience. It focuses on five key areas: Happiness, Engagement, Adoption, Retention, and Task success.
The Hook Model is a four-step process designed to create habit-forming products by encouraging customer behaviors that increase engagement and retention.
A hurdle rate in product management is the minimum rate of return or profitability that a company requires before investing in a new product or project. It serves as a benchmark for evaluating potential investments and helps product managers make informed decisions about resource allocation.
Idea Management is a systematic process of collecting, evaluating, and implementing innovative ideas from various sources within an organization to drive product development and improvement.
Ideation in product management is the creative process of generating, developing, and communicating new ideas for products or features. It involves brainstorming, exploring various concepts, and identifying potential solutions to meet customer needs and business goals.
An implicit requirement in product management is an unspoken or assumed need or expectation that users or stakeholders have for a product, which is not explicitly stated but is essential for the product's success and user satisfaction.
Incident Management Practice in Product Management is a systematic approach to handling and resolving unexpected issues or disruptions that affect a product's performance, availability, or user experience. It involves identifying, analyzing, and addressing incidents quickly to minimize their impact on customers and the business.
Incremental innovation is a product management approach that focuses on making small, gradual improvements to existing products or services rather than creating entirely new offerings. It involves refining and enhancing current features, processes, or technologies to increase value for customers and maintain market competitiveness.
An incremental product is a new version or update of an existing product that offers minor improvements or additional features, rather than a completely new or revolutionary offering.
Information flows in product management refer to the structured movement and exchange of data, insights, and knowledge between different stakeholders, teams, and systems throughout the product development lifecycle.
Information Technology (IT) in Product Management refers to the use of computer systems, software, and networks to store, process, and transmit data to support product development, management, and decision-making processes.
Innovation Management is the process of overseeing and coordinating the creation, development, and implementation of new ideas, products, or processes within an organization to drive growth and maintain competitiveness.
Integrations in product management refer to the process of connecting different software applications, systems, or platforms to work together seamlessly, enhancing functionality and user experience.
Intuitive Design is a user-centered approach to product development that creates interfaces and experiences that are easy to understand and use without the need for extensive instructions or training.
IT Management in Product Management refers to the process of overseeing and coordinating technology resources, systems, and infrastructure to support product development, delivery, and maintenance. It involves aligning IT strategies with product goals, ensuring efficient use of technology, and managing IT-related risks and challenges throughout the product lifecycle.
An IT Project Manager is a professional responsible for planning, executing, and overseeing technology-related projects within an organization. They coordinate teams, manage resources, and ensure that IT initiatives are completed on time, within budget, and meet the specified requirements.
Jidoka is a lean manufacturing principle that empowers machines and workers to detect abnormalities and immediately stop work to prevent defects. In product management, it refers to building quality into the product development process by automating error detection and enabling quick problem-solving.
Jobs To Be Done (JTBD) is a framework in product management that focuses on understanding the underlying motivations and goals of customers when they use a product or service, rather than just their demographic characteristics or surface-level needs.
The Jobs To Be Done (JTBD) Framework is a product management approach that focuses on understanding the underlying motivations and goals of customers when they "hire" a product or service to accomplish a specific task or achieve a desired outcome.
Kanban is a visual workflow management method used in product management to optimize productivity, improve efficiency, and promote continuous delivery. It uses a board with columns representing different stages of work and cards representing individual tasks or items, allowing teams to visualize their workflow, limit work in progress, and identify bottlenecks.
A Kanban Board is a visual project management tool that helps teams visualize work, limit work-in-progress, and maximize efficiency. It uses cards, columns, and continuous improvement to help teams commit to the right amount of work and get it done.
The Kano Model is a product development and customer satisfaction theory that classifies product features into five categories based on their ability to satisfy customers: Must-be, One-dimensional, Attractive, Indifferent, and Reverse.
A Key Performance Indicator (KPI) in product management is a measurable value that demonstrates how effectively a product is achieving key business objectives. KPIs help product managers track progress, make informed decisions, and communicate product performance to stakeholders.
Key Performance Indicators (KPIs) in product management are quantifiable metrics used to measure and evaluate the success and performance of a product or feature against specific business objectives and goals.
Key Performance Indicators (KPIs) in product management are quantifiable metrics used to evaluate the success and performance of a product or feature against specific business objectives and goals.
A product launch is the strategic process of introducing a new product or service to the market, involving planning, marketing, and execution to maximize initial awareness, adoption, and sales.
A Launch Plan is a comprehensive strategy and timeline that outlines the steps, resources, and activities required to successfully introduce a new product or feature to the market.
A Lead Product Manager is a senior-level product management professional who oversees multiple product lines or teams, provides strategic direction, and mentors junior product managers to drive product success and business growth.
Lean Development in Product Management is an approach that focuses on creating value for customers while minimizing waste and maximizing efficiency in the product development process. It emphasizes rapid iteration, continuous learning, and data-driven decision-making to deliver products that meet customer needs quickly and effectively.
Lean Product Development is an approach to creating products that emphasizes efficiency, continuous learning, and waste reduction throughout the development process. It focuses on delivering value to customers quickly while minimizing resources and time spent on non-essential activities.
Lean Product Management is an approach to product development that focuses on maximizing value while minimizing waste. It emphasizes rapid iteration, continuous customer feedback, and data-driven decision-making to create products that meet user needs efficiently.
Lean Software Development is an agile methodology that focuses on maximizing value and minimizing waste in the software development process. It applies lean manufacturing principles to software creation, emphasizing efficiency, continuous improvement, and customer satisfaction.
A Product Life Cycle is the series of stages a product goes through from its conception and introduction to the market, through its growth and maturity, to its eventual decline and discontinuation.
Lifetime Value (LTV) in product management is a metric that estimates the total revenue a customer will generate for a business over their entire relationship with the product or company.
"Make Something People Want" is a fundamental principle in product management that emphasizes creating products or services that fulfill genuine customer needs and desires, rather than building something based solely on internal assumptions or preferences.
A Market Requirements Document (MRD) is a comprehensive document that outlines the market needs, target audience, and business objectives for a product. It serves as a foundation for product development by capturing customer needs, market trends, and competitive analysis.
A Method of Procedure (MOP) in product management is a detailed, step-by-step document that outlines the specific actions and processes required to complete a task or implement a change in a product or system. It serves as a guide to ensure consistency, efficiency, and safety in executing complex operations.
A mind map is a visual tool used in product management to organize and structure ideas, concepts, and information related to a product or project. It starts with a central topic and branches out into subtopics, creating a hierarchical and interconnected representation of thoughts and relationships.
A Minimum Buyable Product (MBP) is a product development strategy that focuses on creating the simplest version of a product that customers are willing to purchase. It's an evolution of the Minimum Viable Product (MVP) concept, emphasizing not just viability but also market readiness and customer willingness to pay.
A Minimum Lovable Product (MLP) is a product development approach that focuses on creating the smallest possible version of a product that not only meets basic user needs but also delights customers with its quality, design, and user experience.
A Minimum Viable Experience (MVE) is a product development approach that focuses on creating the simplest version of a product or feature that delivers the core value proposition to users while maintaining a positive user experience.
A Minimum Viable Product (MVP) is the simplest version of a product that can be released with enough features to satisfy early customers and provide feedback for future development.
A Minimum Viable Product (MVP) is a basic version of a product with just enough features to satisfy early customers and provide feedback for future development.
A mock up in product management is a visual representation or model of a product or feature that demonstrates its appearance and functionality without being fully functional. It's used to communicate design ideas, gather feedback, and validate concepts before investing in full development.
Monthly Recurring Revenue (MRR) is a key metric in product management and subscription-based businesses that represents the predictable and recurring revenue generated from all active subscriptions on a monthly basis.
MoSCoW is a prioritization technique used in product management to categorize features or requirements based on their importance. It stands for Must have, Should have, Could have, and Won't have.
Objectives and Key Results (OKRs) is a goal-setting framework used in product management to define and track objectives and their outcomes. It consists of an Objective, which is a clearly defined goal, and 3-5 Key Results, which are specific, measurable outcomes that track the achievement of that goal.
Objectives and Key Results (OKRs) is a goal-setting framework used in product management to define and track objectives and their outcomes. It consists of an Objective, which is a clearly defined goal, and 3-5 Key Results, which are specific, measurable actions to achieve that goal.
An Opportunity Score is a metric used in product management to evaluate and prioritize potential product features or improvements based on their importance to customers and their current level of satisfaction.
An Owner in product management is a key role responsible for defining the product vision, prioritizing features, and ensuring the successful development and delivery of a product. They act as the primary decision-maker and advocate for the product, balancing business objectives with user needs.
The PDCA Cycle, also known as the Deming Cycle, is a four-step iterative approach used in product management for continuous improvement and problem-solving. PDCA stands for Plan, Do, Check, Act, representing a systematic method to test and implement changes in product development and management processes.
A persona is a fictional character that represents a specific user type or customer segment for a product or service. It is a detailed profile that includes demographics, behaviors, goals, and pain points, used by product managers to better understand and empathize with their target audience.
Personalization in product management is the process of tailoring a product or service to meet the specific needs, preferences, and behaviors of individual users or customer segments. It involves using data and technology to create customized experiences that are more relevant and engaging for each user.
A PERT Chart (Program Evaluation and Review Technique) is a visual project management tool used to plan, coordinate, and track the tasks within a project. It displays the project's timeline as a network diagram, showing the sequence of tasks, their dependencies, and the critical path for project completion.
A platform in product management is a foundational technology or system that enables the development, deployment, and management of multiple products or services. It provides a common set of tools, resources, and infrastructure that can be leveraged to create value for both the business and its customers.
A Platform Product Manager is a specialized product management role focused on developing and maintaining the core infrastructure, tools, and services that other teams within an organization use to build and deliver products or features.
A Portfolio Manager in Product Management is a strategic role responsible for overseeing and optimizing a company's entire suite of products, ensuring they align with business goals, market demands, and customer needs.
Prioritization in product management is the process of determining which features, tasks, or initiatives should be given precedence based on their potential value, urgency, and available resources.
A Prioritization Matrix is a decision-making tool used in product management to evaluate and rank different features, initiatives, or ideas based on specific criteria, helping teams focus on the most important and impactful work.
A product is a good, service, or feature that is created and offered to customers to satisfy their needs or solve their problems. In product management, it refers to the item or solution that a company develops, markets, and maintains to generate value for both the business and its users.
Product Analytics is the process of collecting, analyzing, and interpreting data about how users interact with a product to make informed decisions about product development, improvements, and strategy.
Product architecture is the structural design of a product that defines its components, modules, and interfaces, as well as how they interact to fulfill the product's requirements and functionalities.
A Product Backlog is a prioritized list of features, enhancements, and fixes that need to be developed for a product. It serves as the single source of work for the development team in Agile methodologies.
Product consolidation is the strategic process of combining multiple similar or related products into a single, more comprehensive offering to streamline a company's product portfolio, reduce complexity, and improve efficiency.
A product critique is a systematic evaluation and analysis of a product's features, design, functionality, and overall user experience, typically conducted by product managers, designers, or other stakeholders to identify areas for improvement and ensure alignment with user needs and business goals.
A Product Designer is a professional who combines user experience (UX) design, user interface (UI) design, and product thinking to create innovative and user-centered products. They work closely with product managers, engineers, and other stakeholders to ensure that products meet both user needs and business goals.
The Product Development Cycle is a structured process that guides the creation and launch of new products, from initial concept to market release. It typically includes stages such as ideation, research, planning, design, development, testing, and launch.
A Product Development Manager is a professional responsible for overseeing the entire product development process, from conception to launch. They coordinate cross-functional teams, manage resources, and ensure that products are developed efficiently and align with the company's strategic goals and customer needs.
The Product Development Process is a systematic approach used by companies to conceptualize, design, develop, and launch new products or improve existing ones. It involves multiple stages from idea generation to market release, ensuring that products meet customer needs and business objectives.
Product differentiation is a strategic approach in product management where a company distinguishes its products or services from competitors by emphasizing unique features, benefits, or attributes that provide added value to customers.
Product Discovery is a crucial phase in product management where teams explore and validate product ideas, user needs, and potential solutions before committing to full-scale development.
A Product Disruptor is an innovative product or service that significantly alters an existing market or industry, often by creating a new market segment or rendering existing products obsolete. These disruptive innovations typically offer simpler, more affordable, or more convenient alternatives to established products.
Product enablement is the process of equipping internal teams and external partners with the knowledge, tools, and resources necessary to effectively understand, promote, sell, and support a product throughout its lifecycle.
Product features are specific attributes, functionalities, or characteristics of a product that are designed to meet user needs, solve problems, or provide value to customers.
Product Launch Management is the process of planning, coordinating, and executing the introduction of a new product or service to the market. It involves strategically organizing all aspects of a product's debut, from initial concept to post-launch evaluation, to ensure maximum impact and success.
A Product Launch Manager is a professional responsible for planning, coordinating, and executing the successful introduction of a new product or service to the market. They oversee all aspects of the launch process, from strategy development to post-launch analysis, ensuring a smooth and impactful product release.
A Product Launch Timeline is a strategic planning tool used in product management to outline and schedule the key activities, milestones, and deadlines leading up to and following a product's release to the market.
Product Leadership is the strategic guidance and direction provided by senior product managers or executives to drive product development, innovation, and success within an organization. It involves setting the product vision, aligning teams, and making high-level decisions that shape the product strategy and roadmap.
A Product Led Culture is an organizational approach where the product itself drives business growth, user acquisition, and retention. In this culture, the entire company aligns its strategies and operations around the product's value and user experience.
Product Led Growth (PLG) is a business strategy that focuses on using the product itself as the primary driver of customer acquisition, conversion, and expansion. In this approach, the product's value and user experience are designed to facilitate rapid adoption, satisfaction, and organic growth.
A Product Led Organization is a business strategy where the product itself is the primary driver of customer acquisition, retention, and expansion. In this approach, the product's value and user experience are central to the company's growth and success.
The Product Lifecycle is a framework that describes the stages a product goes through from conception to obsolescence, typically including development, introduction, growth, maturity, and decline.
Product Management is the organizational function responsible for guiding every aspect of a product's lifecycle, from development to positioning and pricing, by focusing on the product and its customers first and foremost.
A Product Management Audit is a systematic evaluation of a company's product management practices, processes, and performance to identify strengths, weaknesses, and areas for improvement.
A Product Management Glossary is a comprehensive collection of terms, concepts, and definitions specific to the field of product management, designed to help product managers, stakeholders, and team members understand and communicate effectively about product-related topics.
A Product Management Platform is a comprehensive software solution that centralizes and streamlines various aspects of product management, including planning, development, launch, and ongoing optimization of products.
Product Management Talent refers to the unique combination of skills, knowledge, and abilities that individuals possess to excel in product management roles. It encompasses both hard and soft skills necessary for effectively developing, launching, and managing products in various industries.
A Product Manager is a professional responsible for guiding the development, launch, and continuous improvement of a product or service. They act as the central point of communication between various teams, ensuring that the product meets both user needs and business objectives.
Product Market Fit is the degree to which a product satisfies a strong market demand. It occurs when a company's target customers are buying, using, and telling others about the product in numbers large enough to sustain the product's growth and profitability.
Product marketing is the strategic process of promoting and selling a product to its target audience. It involves understanding customer needs, positioning the product effectively, and communicating its value to drive adoption and sales.
A Product Marketing Manager is a professional responsible for developing and executing marketing strategies to promote a company's products, bridging the gap between product development and sales teams.
Product metrics are quantifiable measures used to evaluate the performance, success, and impact of a product. These metrics help product managers and teams track progress, make data-driven decisions, and align product development with business goals and user needs.
A Product Mix Strategy is a comprehensive plan that determines the variety, depth, and breadth of products a company offers to meet customer needs and achieve business objectives.
A Product Operating Model is a framework that defines how a company organizes, manages, and executes its product development and delivery processes. It outlines the roles, responsibilities, workflows, and decision-making structures that enable effective product management and align product strategy with business goals.
Product Operations (Product Ops) is a function within product management that focuses on optimizing processes, tools, and systems to enhance the efficiency and effectiveness of product teams. It aims to streamline workflows, improve collaboration, and provide data-driven insights to support better decision-making in product development and management.
Product optimization is the process of continuously improving a product's features, performance, and user experience to maximize its value for customers and achieve business goals.
A Product Owner is a key role in Agile product development responsible for maximizing the value of the product by defining and prioritizing the product backlog, representing stakeholder interests, and making decisions about product features and direction.
Product planning is a strategic process in product management that involves defining the vision, goals, and roadmap for a product's development and launch. It encompasses market research, feature prioritization, and resource allocation to ensure the product meets customer needs and business objectives.
A product portfolio is a collection of all the products or product lines that a company offers to its customers. It represents the complete range of products that an organization develops, manages, and sells to meet various market needs and achieve business objectives.
A Product Portfolio Manager is a strategic role responsible for overseeing and optimizing a company's entire suite of products, ensuring they align with business goals, market demands, and customer needs.
Product Prioritization Frameworks are structured approaches used by product managers to evaluate and rank product features, ideas, or initiatives based on specific criteria, helping teams make informed decisions about what to build next.
A Product Process Matrix is a strategic tool used in product management to analyze and align a company's product types with its manufacturing processes, helping to optimize production efficiency and guide product development decisions.
A Product Requirements Document (PRD) is a comprehensive document that outlines the features, functionalities, and specifications of a product. It serves as a roadmap for the development team and stakeholders, detailing what needs to be built and why.
Product Requirements Management is the process of identifying, documenting, and tracking the features, functionalities, and specifications needed for a product throughout its development lifecycle.
A Product Retrospective is a structured meeting or process where a product team reflects on their recent work, discussing what went well, what could be improved, and how to enhance future product development efforts.
A product roadmap is a strategic document that outlines the vision, direction, priorities, and progress of a product over time. It communicates the why and what behind what you're building and serves as a guiding strategic document as well as a plan for executing the product strategy.
Product sense is the intuitive ability to understand user needs, market trends, and product opportunities. It's a crucial skill for product managers to make informed decisions about product development and strategy.
A Product Spec, short for Product Specification, is a detailed document that outlines the features, functionalities, and requirements of a product. It serves as a blueprint for the development team and a reference point for all stakeholders involved in the product creation process.
A Product Stack is a comprehensive set of tools, technologies, and processes used by product managers and their teams to develop, manage, and optimize products throughout their lifecycle.
A Product Strategist is a professional who develops and oversees the long-term vision and direction for a product or product line, aligning it with business goals and market needs.
Product strategy is a high-level plan that outlines how a product will achieve its goals and create value for both customers and the business. It defines the product's vision, target market, key features, and competitive positioning.
A Product Strategy Framework is a structured approach used by product managers to define, plan, and execute the long-term vision and goals for a product. It helps align product development with business objectives and customer needs.
A Product Vision is a clear, concise statement that outlines the long-term goal and purpose of a product. It serves as a guiding light for the product team, stakeholders, and organization, providing direction and inspiration throughout the product development process.
A product vulnerability is a weakness or flaw in a product that could potentially be exploited, leading to security risks, performance issues, or compromised user experience. In product management, identifying and addressing these vulnerabilities is crucial for maintaining product quality, user trust, and market competitiveness.
Program Management is the coordinated management of multiple related projects and ongoing activities to achieve strategic business objectives. It involves overseeing interdependencies, allocating resources, and aligning efforts across various initiatives to maximize overall value and efficiency.
A prototype is a preliminary model or early version of a product that is created to test concepts, gather feedback, and validate ideas before investing in full-scale development.
Rapid Application Development (RAD) is an agile software development approach that emphasizes quick prototyping and iterative development to deliver high-quality software in a short timeframe.
A Release Demo is a presentation or showcase of a product's new features, improvements, or updates before its official release to stakeholders, team members, or potential users.
Release Management is the process of planning, scheduling, and controlling the deployment of software releases to ensure smooth and successful delivery of new features and updates to end-users.
A Release Plan is a strategic document in product management that outlines the schedule, features, and milestones for releasing new versions or updates of a product. It serves as a roadmap for the development team, stakeholders, and customers, detailing what will be delivered and when.
Research and Development (R&D) in Product Management is the systematic process of investigating new ideas, technologies, and methodologies to create innovative products or improve existing ones. It involves exploring market needs, conducting experiments, and developing prototypes to drive product innovation and maintain competitiveness.
Retention in product management refers to the ability of a product or service to keep its users engaged and active over time, preventing them from abandoning or switching to competitors.
A retrospective in product management is a structured meeting held at the end of a project or sprint where the team reflects on what went well, what didn't, and how to improve future processes and outcomes.
A roadmapping tool is a software application or platform used by product managers and teams to visually plan, organize, and communicate product strategy and development timelines.
Roadmap Revolution is a transformative approach to product management that focuses on creating dynamic, flexible, and collaborative product roadmaps. It emphasizes adaptability, continuous improvement, and alignment with both business goals and customer needs.
A roadmap in product management is a strategic document that outlines the vision, direction, and progress of a product over time. It communicates the product's goals, features, and milestones to stakeholders and team members.
Scrum is an agile framework for project management that emphasizes collaboration, flexibility, and rapid iteration in product development. It breaks work into short, time-boxed periods called sprints and uses regular team meetings to plan, review, and improve the product development process.
Scrumban is a hybrid project management approach that combines elements of Scrum and Kanban methodologies, offering flexibility and continuous flow in product development and team management.
A Scrum Master is a facilitator and coach who helps a product development team implement Agile and Scrum methodologies, remove obstacles, and foster an environment of continuous improvement and high performance.
A Scrum Meeting, also known as a Daily Scrum or Stand-up, is a brief, time-boxed daily meeting where a product development team synchronizes activities, discusses progress, and plans for the next 24 hours.
Service Transformation is the process of fundamentally redesigning and improving service delivery within an organization to enhance customer experience, operational efficiency, and business outcomes.
Shadow IT refers to the use of information technology systems, devices, software, applications, and services without explicit IT department approval.
The Shape Up Method is a product development approach created by Basecamp that focuses on six-week cycles of work, with clearly defined projects and no daily meetings. It emphasizes shaping work beforehand, giving teams full autonomy, and limiting work in progress.
In product management, to "ship" means to release or launch a product, feature, or update to customers or end-users. It's the culmination of the product development process, where the product moves from internal development to being available for use in the market.
A Shipyard Engine in product management is a metaphorical term for a system or process that facilitates the continuous development, testing, and deployment of product features or updates. It emphasizes efficiency, collaboration, and rapid iteration in product development cycles.
The Six Thinking Hats is a problem-solving technique developed by Edward de Bono that encourages product managers to approach challenges from six different perspectives, each represented by a colored hat: White (facts), Red (emotions), Black (caution), Yellow (optimism), Green (creativity), and Blue (process).
SMART Objectives in Product Management are specific, measurable, achievable, relevant, and time-bound goals that help product managers set clear targets and track progress effectively.
Soft skills in product management are non-technical, interpersonal abilities that enable effective communication, collaboration, and leadership within a team and with stakeholders. These skills include empathy, adaptability, problem-solving, and emotional intelligence.
A Sprint is a fixed, short-term period (typically 1-4 weeks) in which a product development team works to complete a set amount of work and deliver a potentially shippable product increment.
A Sprint Goal is a concise, high-level objective that a Scrum team aims to achieve during a single sprint in Agile product development.
A stakeholder in product management is any individual, group, or organization that has a vested interest in or is affected by the development, launch, or ongoing success of a product. This includes customers, team members, executives, investors, and partners.
Stakeholder Analysis in product management is a systematic process of identifying, evaluating, and understanding the needs, interests, and influence of individuals or groups who can affect or be affected by a product's development and success.
Story Points are a unit of measure used in Agile project management to estimate the effort required to implement a user story or complete a task. They represent the relative complexity, uncertainty, and effort involved in a piece of work, rather than absolute time.
Strategy in product management is a comprehensive plan that outlines how a product will achieve its goals, meet customer needs, and create value for the business. It involves making informed decisions about product features, target markets, and competitive positioning to guide the product's development and growth.
A SWOT Analysis in product management is a strategic planning tool that helps identify a product's Strengths, Weaknesses, Opportunities, and Threats. It provides a comprehensive overview of internal and external factors affecting a product's success in the market.
A Technical Product Manager is a specialized role in product management that combines technical expertise with traditional product management skills to oversee the development of complex, technology-driven products.
"The User Is Drunk" is a concept in product management that encourages designers and developers to create user interfaces that are so simple and intuitive that even an intoxicated person could use them effectively.
A Timeline Roadmap is a visual representation of a product's planned features, milestones, and releases over a specific period, typically used in product management to communicate strategy and track progress.
Top-Down Product Strategy is an approach in product management where high-level business objectives and vision drive the development of product features and roadmap, ensuring alignment with overall company goals.
Tribe Model Management is an organizational approach in product management that structures teams into cross-functional, autonomous groups called "tribes" to enhance collaboration, innovation, and product delivery.
Turnover Rate in product management refers to the percentage of customers who stop using a product or service within a specific time period. It's a key metric that helps product managers assess customer retention and product performance.
A Unique Selling Point (USP) is a distinctive feature or characteristic that sets a product or service apart from its competitors, giving it a competitive advantage in the market.
A use case in product management is a detailed description of how a user interacts with a product to achieve a specific goal. It outlines the steps, actions, and potential scenarios a user might encounter while using the product.
User Experience (UX) in Product Management refers to the overall interaction and satisfaction a user has with a product, encompassing all aspects of the end-user's interaction with the company, its services, and its products.
A user flow is a visual representation of the path a user takes to complete a specific task or achieve a goal within a product or service. It outlines the steps, interactions, and decision points a user encounters from start to finish.
User flows are visual representations of the step-by-step journey a user takes to complete a specific task or achieve a goal within a product or application.
A user persona is a fictional representation of an ideal customer or user of a product, based on real data and research about existing or potential users. It helps product managers and teams understand, empathize with, and design for their target audience.
User research is a systematic process of gathering and analyzing data about target users to understand their needs, behaviors, and preferences, which informs product development and decision-making in product management.
A user story is a concise, informal description of a software feature from the perspective of the end user. It typically follows the format: "As a [type of user], I want [an action] so that [a benefit/a value]."
A value proposition is a clear statement that explains how a product solves customers' problems, delivers specific benefits, and tells the ideal customer why they should buy from you and not from the competition.
Vanity metrics are performance indicators that look impressive on the surface but don't actually provide meaningful insights into a product's success or guide strategic decision-making.
Voice of Customer (VOC) is a systematic process of capturing and analyzing customer feedback, opinions, and expectations about a product or service. It helps product managers understand customer needs, preferences, and pain points to inform product development and improvement decisions.
The Waterfall methodology in product management is a linear, sequential approach to product development where each phase must be completed before the next one begins. It follows a strict, step-by-step process from conception to delivery, with little room for changes once a phase is completed.
"What Not How" is a product management principle that emphasizes focusing on defining the desired outcome or problem to be solved (the "what") rather than specifying the exact implementation details (the "how"). This approach allows for more creative solutions and empowers development teams to find the best way to achieve the desired result.
A wireframe is a low-fidelity, basic layout and structural guideline for a product's user interface, typically used in the early stages of product design to outline the arrangement of content and functionality without focusing on visual details.
