Revo's Product Management Glossary

A brainstorming technique where teams design a hypothetical product package to identify key features, benefits, and selling points, helping to clarify product vision and marketing strategy.

The process of creating, designing, and bringing a new product or service to market, from initial concept to final launch.

A strategy to distinguish a product from competitors by emphasizing unique features, benefits, or attributes that provide added value to customers.

The process of identifying and validating customer needs, market opportunities, and potential solutions to inform product development decisions and prioritize features.

A strategic marketing approach where passionate advocates promote a product's benefits to build customer loyalty and drive adoption.

A systematic approach to gathering, analyzing, and acting on customer feedback throughout the product lifecycle to improve user satisfaction and product performance.

A systematic approach to testing new product features or changes by comparing different versions to determine which performs better and drives desired outcomes.

Quantitative indicators used to assess and monitor the overall performance, usage, and success of a product throughout its lifecycle.

A testable assumption about a product's potential success, based on market needs, user behavior, and business goals.

The process of generating and developing new product ideas through brainstorming, research, and creative thinking techniques to address market needs or solve customer problems.

The introduction of a new product or service to the market, typically involving planning, marketing, and distribution strategies to maximize its success and adoption by customers.

The stages a product goes through from conception to obsolescence, typically including development, introduction, growth, maturity, and decline.

A systematic approach to managing the entire lifecycle of a product from inception, through design and manufacturing, to service and disposal.

Quantifiable measures used to evaluate a product's performance, usage, and success in meeting business and user goals.

A function that optimizes product development processes, improves cross-functional collaboration, and enhances data-driven decision-making to support product teams and drive product success.

A key role in Agile methodologies responsible for defining and prioritizing product backlog items, representing stakeholder interests, and ensuring the delivery of maximum value to customers.

The strategic process of evaluating, prioritizing, and allocating resources across a company's entire range of products to optimize overall business performance and align with organizational goals.

The strategic process of defining and communicating a product's unique value proposition to target customers, differentiating it from competitors in the market.

A visual representation that plots competing products or brands on a two-dimensional graph based on key attributes, helping to identify market gaps and strategic positioning opportunities.

A user who has experienced value from a product through a free trial or freemium model and exhibits characteristics indicating they are likely to become a paying customer.

A comprehensive document outlining the features, functionality, and goals of a product, serving as a guide for development teams and stakeholders throughout the product lifecycle.

A meeting where the product team reflects on past product development cycles, discussing successes, challenges, and lessons learned to improve future processes and outcomes.

A strategic document outlining the planned development and release of product features, enhancements, and milestones over time, guiding the product's evolution and aligning stakeholders.

A comprehensive plan outlining how a product will achieve business goals, meet customer needs, and maintain competitive advantage in the market.

A hierarchical classification system used to categorize and organize products into groups based on shared characteristics, attributes, or intended use.