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Product Glossary
Product
GLOSSARY
Design
Marketing
Technology
Growth
Analytics
Channel Effectiveness
Growth
The success of each acquisition channel in driving traffic, sign-ups, or purchases.
ABM: Account-based marketing
Marketing
ABM is a strategy that focuses on targeting specific accounts with personalized messages and offers.
ACV (Annual Contract Value)
Growth
ACV is the total value of a customer’s contract over a 12-month period.
AOV: Average order value
Growth
AOV is the average amount of money spent per order in an ecommerce store.
API: Application Programming Interface
Development
API is a set of functions and procedures that allow two applications to communicate with each other.
ARPU: Average Revenue per User
Growth
ARPU is a measure of the average revenue generated by a single user over a given period of time.
ARR: Annual Recurring Revenue
Growth
ARR is the total amount of revenue a company can expect to receive on an annual basis from recurring sources.
ASO: App Store Optimization
Marketing
ASO is the process of optimizing mobile apps to rank higher in app store search results, increase visibility, and drive more organic downloads.
ASRU: Average Spend Per Returning User
Growth
ASRU is a metric that measures the average amount of money spent by a customer over multiple visits to a business.
Adaptive Web Design
Design
Adaptive web design is a method of designing websites that dynamically adapts to the user's device and environment.
Affinity diagram
Design
Affinity diagram is a tool used to organize ideas and data into related groups.
Agile software development
Development
Agile software development is an iterative and incremental approach to software development that focuses on delivering value to customers quickly and efficiently.
B2B: Business-To-Business
Management
B2B is the exchange of goods and services between two or more businesses.
B2C: Business-to-Consumer
Management
B2C is a type of e-commerce transaction in which businesses sell products or services directly to consumers.
BOM: Bill Of Materials
Management
A Bill of Materials (BOM) is a list of the components and materials needed to build a product.
Beta Launch
Design
Beta launch is the process of releasing a product or service to a limited group of users for testing and feedback.
Bounce Rate
Growth
The percentage of visitors who leave your website after viewing just one page. A high bounce rate may indicate issues with the landing page (e.g., messaging) or targeting.
CAC: Customer Acquisition Cost
Growth
CAC is the cost associated with acquiring new customers through marketing and sales activities.
CLTV: Customer lifetime value
Growth
Customer lifetime value is a measure of the total value a customer brings to a business over the course of their relationship.
CMS: Content Management System
Design
A CMS (Content Management System) is a software application used to create, manage, and modify digital content.
CPA: Cost Per Acquisition
Growth
CPA is a pricing model in which advertisers pay for each successful acquisition of a customer.
CPL: Cost Per Lead
Growth
CPL is a pricing model in which advertisers pay for each qualified lead generated from their campaigns.
CPM: Cost per thousand impressions
Analytics
CPM is a pricing model used in online advertising, where advertisers pay a fixed cost for every 1,000 impressions of their ad.
CPV: Cost Per View
Management
CPV is a pricing model in which advertisers pay for each view of their ad.
CR: Conversion rate
Growth
CR is a metric that measures the percentage of visitors to a website who take a desired action, such as making a purchase or signing up for a newsletter.
CRM: Customer relationship management
Management
CRM is a system used to manage customer relationships and interactions to improve customer satisfaction and loyalty.
CTR: Click-through rate
Analytics
CTR is a metric used to measure the success of an online advertising campaign by calculating the percentage of users who click on an ad.
Card sorting
Design
Card sorting is a user-centered design technique used to help organize information and create navigation systems.
Comparative Analysis
Design
Comparative analysis is a method of evaluating two or more items by comparing them to one another.
Competitor Analysis
Design
Competitor analysis is the process of gathering and analyzing information about competitors in order to gain a competitive advantage.
Content audit
Design
A content audit is a process of analyzing and evaluating existing website content to identify gaps and opportunities.
Contextual enquiry
Design
Contextual enquiry is a user-centered design method that involves observing and interviewing users in their natural environment to gain insights into their needs and behaviors.
Conversion Rate
Analytics
The percentage of users who take a desired action, like signing up for a newsletter.
Customer Journey Map
Design
Customer Journey Map is a visual representation of the customer's experience with a product or service.
DAU: Daily active user
Growth
DAU is a metric used to measure the number of unique users who interact with an app or website on a given day.
DPI: Dots per inch
Design
DPI is a measure of the resolution of an image or printer, indicating the number of dots per inch.
DPU: Daily paying user
Growth
DPU is a metric used to measure the number of users who make at least one payment per day.
Design Thinking
Design
Design Thinking is a creative problem-solving process that focuses on understanding user needs and creating solutions that are both desirable and feasible.
Design ethnography
Management
Design ethnography is a qualitative research method that uses observation and interviews to understand people's behaviors, motivations, and experiences in their natural contexts.
Design sprint
Management
Design sprint is a five-day process for quickly solving complex problems and validating ideas through prototyping and user testing.
Diary study
Management
A Diary study is a research method in which participants record their thoughts, feelings, and behaviors over a period of time.
Experience Map
Design
Experience Map is a visual representation of the customer journey that helps to identify areas for improvement.
Focus groups
Design
Focus groups are a qualitative research method used to gain insights into people's opinions, beliefs, and attitudes.
GTM : go-to-market strategy
Marketing
The GTM strategy is the plan for how a product will be introduced to the market and made available to customers. This can include things like pricing, distribution channels, and marketing efforts.
Guerrilla usability testing
Design
Guerrilla usability testing is a quick and informal method of testing a product or service with real users in a natural environment.
HCI: Human Computer Interaction
Design
Human-Computer Interaction (HCI) is the study of how people interact with computers and technology to create meaningful experiences.
Heuristic Review
Design
Heuristic review is a usability evaluation method that uses expert judgment to identify usability issues in a product or system.
High-fidelity prototype
Design
A high-fidelity prototype is a detailed, interactive representation of a product or system that closely resembles the final product.
IA: Information architecture
Design
IA is the use of algorithms and software to simulate human intelligence to solve complex problems.
IP: Intellectual property
Design
IP stands for Internet Protocol, which is a set of rules that govern how data is transmitted over the internet.
Ideation
Design
Ideation is the process of generating creative ideas and solutions to problems.
Iterative design
Design
Iterative design is a process of creating a product or service through repeated cycles of planning, implementation, testing, and refinement.
IxD: Interaction design
Design
Interaction Design (IxD) is the practice of designing interactive digital products and services that are useful, usable, and desirable for users.
KPI: Key performance indicator
Management
KPI is a metric used to measure the success of an organization's performance.
Landing Page Conversion Rate
Analytics
The percentage of visitors who take a desired action on a specific landing page, like signing up or starting a trial, on a specific landing page.
Lean UX
Design
Lean UX is a methodology that helps designers create user interfaces that are easy to use and understand.
Low fidelity prototype
Design
A low-fidelity prototype is a basic, rough representation of an idea or product used to quickly test and iterate on concepts.
MAU: Monthly active user
Growth
MAU is a metric used to measure the number of unique users who have interacted with a product or service in a given month.
MRD: Market requirement document
Management
MRD is a document that outlines the market needs and requirements for a product or service.
MRR: Monthly recurring revenue
Growth
MRR is a measure of the total amount of recurring revenue generated from subscription-based services in a given month.
MTU: Monthly transactional user
Growth
MTU is a measure of the maximum size of a single data packet that can be sent over a network.
MVP: Minimum viable product
Management
A minimum viable product is a version of a product with just enough features to satisfy early customers and provide feedback for future development.
Mockups
Design
Mockups are a visual representation of a user interface used to create a prototype of an application.
Moodboard
Design
A Mood Board is a visual representation of ideas and concepts used to inspire creative projects.
NDA: Non-disclosure agreement
Management
A legally binding contract that protects confidential information from being shared.
NPS: Net promoter score
Growth
NPS is a customer loyalty metric that measures customer satisfaction and loyalty by asking customers to rate their likelihood of recommending a product or service on a scale of 0-10.
Onboarding Completion Rate
Analytics
The percentage of users who complete the onboarding process successfully.
Original Design Manufacturer
Design
Original Design Manufacturer (ODM) is a company that designs and manufactures a product based on the specifications of another company.
Original Equipment Manufacturer OEM
Design
Original Equipment Manufacturer (OEM) is a company that produces parts and equipment that may be marketed by another manufacturer.
PL: Product Line
Management
Product line is a set of related products that are marketed together as a group.
PLC: Product Lifecycle
Management
PLC is the process of managing a product from its conception to its retirement from the market.
PLM: Product lifecycle management
Management
PLM is a process that manages the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal.
PLS: Product Level Strategy
Marketing
PLS is a strategic approach to marketing that focuses on the product itself, rather than the customer or market.
PM: Product Manager
Management
A product manager is responsible for the development and success of a product or service.
PMM: Product Marketing Manager
Marketing
The PMM is responsible for driving the product marketing strategy and executing on the plan to bring a product to market.
PRD: Product requirement document
Marketing
A PRD is a document that outlines the features, functions, and requirements of a product.
Personas
Design
Personas are fictional characters created to represent the different user types within a targeted demographic that might use a website, product, or service.
Product Lifecycle
Management
Product Lifecycle is the process of a product's development, from its introduction to the market to its eventual removal.
Project kick-off
Design
Project kick-off is the process of initiating a new project and setting it up for success.
Prototype
Design
Prototype is a way of creating objects that inherit properties from a parent object.
QA: Quality assurance
Growth
QA is the process of ensuring that products and services meet quality standards.
QMS: Quality Management Systems
Growth
QMS is a system of processes and procedures used to ensure quality control and consistency in an organization's products, services, and operations.
Questionnaires
Design
Questionnaires are a structured set of questions used to collect data from respondents.
R&D: Research and Development
Management
R&D is the process of creating new products, services, or processes through research and experimentation.
RFP: Request For Proposal
Management
A request for proposal is a document that solicits a response from potential vendors to provide goods or services.
RFQ: Request For Quotation
Management
RFQ is a document used to request a quote from a supplier for goods or services.
ROI: Return On Investment
Management
ROI is a measure of the profit or loss generated from an investment relative to the amount of money invested.
Rendering
Design
Rendering is the process of generating an image from a model by means of computer programs.
Research stage
Design
Research stage is the process of gathering information and data to gain a better understanding of a topic or issue.
Responsive design
Development
Responsive design is a web design approach that allows webpages to adapt to the size of the user's device or screen.
SEO: Search Engine Optimization
Marketing
SEO is the process of optimizing a website to increase its visibility in search engine results.
SOP: Standard operating procedure
Management
SOP is a set of instructions that outlines the steps to be taken to complete a task or process. #
SWOT: Strengths, Weaknesses, Opportunities, and Threats
Management
SWOT is a strategic planning tool used to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats.
Sitemap
Design
A sitemap is an XML file that lists the URLs for a website, used to inform search engines about the pages on a website.
Stakeholder Interviews
Design
Stakeholder Interviews are a method of gathering information from people who have an interest in or are affected by a project.
Storyboard
Design
Storyboarding is a visual representation of a story or sequence of events, typically used in filmmaking, animation, and other media.
TQM: Total Quality Management
Management
Total quality management is a continuous process of improving the quality of products and services to meet customer needs and expectations.
TRR: Total Return Rate
Growth
TRR is a measure of the overall performance of an investment, taking into account both capital gains and income generated from the investment.
Time to Value : TTV
Growth
The time it takes for a user to experience the core benefits of your product after starting to use it. A shorter TTV leads to higher user satisfaction, engagement, and retention. In product-led growth, optimizing TTV is crucial to ensure users quickly understand the value your product delivers.
Traffic Source Distribution
Marketing
The breakdown of incoming user traffic by different sources, such as organic search, referrals, or paid ads.
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