Glossary Flashcards
(35 cards)
What is A/B testing in product management?
It’s a method of comparing two versions of a webpage or app by giving 50% of users experience ‘A’ and the other 50% experience ‘B’ to determine which performs better.
What does API stand for, and what is its function?
API stands for Application Programming Interface; it extends a product’s functionality to other applications.
What is a beta test?
A trial phase where a product is tested by early users and may still have bugs.
What does bounce rate measure?
The percentage of visitors who leave a site after viewing only one page.
What is breakeven in product management?
The point where total costs equal total revenue, indicating when a product begins to generate profit.
What does ‘code complete’ mean?
Development is finished, but further testing/debugging is still required.
What does ‘ready to launch’ mean?
The product has passed all testing and QA and is ready for deployment.
What is conversion rate?
The percentage of users who complete a desired action (e.g., making a purchase).
What does churn rate indicate?
The rate at which users stop using a product or unsubscribe.
What does CTR stand for and mean?
Clickthrough rate; the percentage of users who click on a link or ad.
What is a customer segment?
A group of customers divided based on shared characteristics.
What do DAU and MAU stand for?
Daily Active Users and Monthly Active Users—metrics for product engagement.
What does it mean to ‘dogfood’ a product?
To test the product internally before a public release.
Who are early adopters?
Users who try new products early and often serve as beta testers.
What is a go-to-market strategy?
The plan for launching and delivering a product to users.
What is an impression in digital marketing?
When a user views an online ad or popup.
What does KPI stand for?
Key Performance Indicator—a measurable value showing product success.
What are lagging indicators?
Metrics that reflect past performance (e.g., revenue, retention).
What are leading indicators?
Predictive metrics showing future product performance potential.
What is meant by ‘low-hanging fruit’?
Easy-to-implement changes with a big positive impact.
What is the difference between mobile web and native?
Native refers to downloaded apps; mobile web refers to apps accessed via a browser.
What does MVP stand for?
Minimum Viable Product—the simplest version of a product that still solves a user problem.
What is a North Star Metric?
The most important metric that defines product success.
What is a pain point?
A specific problem users face that the product aims to solve.
