In this section you’ll find frequently-used terms and definitions that will help you better understand product strategy.
Business Intelligence (BI), is a method of compiling, analyzing and interpreting business data to make better-informed decisions. BI data is typically compiled through extensive research across a wide range of sources — including industry reports, customer feedback, actual usage data of the company’s products, and competitive research.
Business Model Canvas
A business model canvas is a one-page summary describing the high-level strategic details needed to get a business (or product) successfully to market. The typical use case for this tool is to outline the fundamental building blocks of a business, but it can be used effectively for individual products as well.
Pivot in a product management context may refer to a shift in the strategic direction of the business. Usually the decision to pivot a product is the result of competitive changes, new findings about the market, or shortcomings in the original strategy.
What is Product Discovery? The product discovery process has two distinct parts. It includes developing a profound understanding of customers,...
What is a Product Disruptor? A product disruptor is an innovation that represents a change in a product’s direction, business...
What is Product Excellence? Product excellence is a customer-focused framework for developing a significant or impactful product or feature and...
What is a Product Launch? A product launch refers to a business’s planned and coordinated effort to debut a new...
Product-market fit describes a scenario in which a company's target customers are buying, using, and telling others about the company's product in numbers large enough to sustain that product's growth and profitability.
What Is a Product Mission Statement? A product’s mission is a clear, concise statement that explains the product’s highest-level purpose....
What is a Product Strategy? A product strategy is a high-level plan describing what a business hopes to accomplish with...
Product Strategy Framework
What Is a Product Strategy Framework? A product strategy is a high-level plan describing what a business hopes to accomplish...
What is the Product Tree? The Product Tree is a fun, visual, and useful tool that gamifies product management. It...