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Product Development

Essential product development terms every founder should know

13 terms

A/B Testing

A controlled experiment methodology for comparing two versions of a product, webpage, or feature to determine which performs better based on statistical evidence.

experimentation
optimization
statistics
+2

Customer Development

A systematic methodology for discovering and validating customer problems, needs, and market opportunities through direct customer interaction and feedback.

validation
interviews
feedback
+2

Intellectual Property

Legal rights that protect creations of the mind, including inventions, artistic works, designs, symbols, names, and images used in commerce.

copyright
trademark
patent
+3

Iteration

The process of repeatedly refining and improving a product, feature, or process based on feedback and learning.

product-development
agile
lean-startup
+2

Jobs to be Done

A framework for understanding customer motivations based on what they are trying to accomplish.

product-development
customer-research
innovation
+2

Kanban

A visual project management method that uses boards and cards to track work progress and optimize workflow.

project-management
agile
workflow
+2

Lean Startup

A methodology for developing businesses through rapid experimentation and validated learning.

methodology
mvp
validation
+2

Minimum Viable Product (MVP)

The simplest version of a product that can be released to validate core assumptions with real users.

development
product
lean startup
+1

Onboarding

The process of introducing new users, customers, or employees to a product, service, or organization.

user-experience
customer-success
retention
+2

Product-Market Fit

The degree to which a product satisfies strong market demand, indicating that customers are willing to pay for and use the product.

validation
product
market
+2

Quality Assurance

Systematic processes and activities to ensure products or services meet specified requirements and standards.

testing
product-quality
software-development
+2

Technical Debt

The future cost of additional work caused by choosing quick solutions over better approaches during development.

software-development
code-quality
maintenance
+2

Workflow

A sequence of tasks and processes organized to accomplish specific business objectives efficiently.

process
productivity
automation
+2