A – Z Of Product Management

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We were inspired by our friends at Unashamedly Creative who put together an A to Z of Freelancing. With a bit of fun and imagination the Brainmates team have compiled our A-Z of Product Management. Please add your own suggestions in the comments.

A

Agile

The new way in which we should run all aspects of our business in order to keep up with the velocity of change.

Advocacy

Is considered any actions taken to advance our products in and out of our companies.

Authentic

How we present ourselves and behave with our stakeholders.

Analytical

The art and science of “visualising, articulating and solving” all sorts of business and customer problems.

Axure

Software tool for creating mock-ups, wireframes and prototypes.

Aha

Helps us build better Roadmaps.

B

Business

Entities that we create value for.

Beer

Amber liquid used to entice developers.

Books

A secret place to discover and find knowledge and information. Not to be confused with blogs.

Box

Great place to store files and be a part of the cloud’.

Brand

Is an intrinsic part of our products.

Buyer

For whom we have to craft authentic, appealing market messages.

Brainmates

An awesome team of Product Managers in Sydney that can help Product Teams in times of need through consulting, coaching, facilitation and training.

C

Customers

The most important group to understand and satisfy if we want to grow our revenues.

Creativity

What we need to bring to bear when we’re engaging with stakeholders.

Competitor Analysis

An opportunity to spy on the opposition’s business and products and call it analysis.

Crowdsourcing

A way to find new customer problems.

D

Decisions

Must be made every day if we want to speed ahead.

Disruption

Opportunities to make new products and find new revenue streams.

Design Thinking

A well-known process used to design and develop products and services customers can’t live without.

E

Empathy

The capacity to feel what customers are experiencing and consequently, design products and services that enhance those experiences.

Experience

The stuff you can’t get from a book.

Energy

Bucket loads required to drive product changes.

Evernote

Helps us collect and notetake across the interwebs.

Economic Behaviour

We’d do well to understand how social, cognitive and emotional factors affect buying decisions.

F

Financial Analysis

Ability to conjure up a good story from a bunch of numbers.

Fun

Must be had in our job. Or, god forbid! we may have to find a new one.

G

Growth Hacking

Good old fashion product analytics coupled with marketing techniques to increase sales – now packaged in a fancy new term.

Goals

Must be established for ourselves, our teams, our products and our businesses.

H

Hypothesis

Often stated, never tested.A market or product “supposition” should be created and “further investigate” before forming the Business Case.

I

Iterative

Rinse and repeat, rinse and repeat, rinse and repeat till we move closer to Product Market Fit.

Innovation

Is just Product Management done well!

J

Jira

The holy grail of bug tracking and product backlog software used by many Product Teams.

Juggle

Managing multiple products, projects and issues on a day to day basis with a smile.

Jobs To Be Done

An Innovation technique that can be applied to uncover what jobs customers employ products to do.

K

Kano Model Analysis

A tool to help us determine which features customers must have and which features simply excite and delight!

Kanban

An agile software development technique that makes visible any bottlenecks in the development workflow.

L

Lean Startup

A movement to get us in the habit of learning, testing and iterating our products and services.

LinkedIn

A place to find our next job.

Lifecycle Management

The unsexy of Product Management but a very necessary evil.

Learn

An activity we should NEVER stop.

Leadership Leadership is influence (John C Maxwell) – especially for Product Managers.

M

MeetUp

A site that helps us to find many of the Product Management events where we live, work and play.

Mailchimp

An email marketing tool to get us communicating with our community easily.

Market

Not just competitors but the ecosystem and interactions of suppliers, customers, influencers, manufacturers, and governments the product operates in.

MindManager

A “powerful” (that’s what it says on the website) tool to map out our thoughts visually.

Measure

Something that should be carried out every day to assess what our customers think about our new and current products.

Minimum Viable Product

A term used by hipster Product Managers. The minimum product ‘construct’ and capability required to test a market assumption.

Minimum Marketable Product

Another term used by hipster Product Managers. The product with the smallest feature set that still solves the customer’s problem better than the competing alternatives

N

Networking

Meeting and conversing with likeminded people so that we may get to know one another with the possibility of helping each other in the future.

Net Present Value A calculation found in many of our Business Cases which (apparently) helps businesses figure out how much the future cash flow of an investment made today is worth in today’s terms.

O

Opportunity

Opportunity is always dressed as customer problems.

P

Product Owner

A job we shouldn’t do on top of all our other Product Manager responsibilities.

Product

A solution that solves a customer problem.

Product Camp

A global, annual event to hangout with likeminded people and hear from some passionate Product peeps!

Prezi

More fun than Powerpoint.

Price

Represents the exchange of value between 2 parties.

Persona

A person that embodies the essence of our target market.

Profit and Loss

Demonstrates the product’s financial performance over time.

Product Management

An often misunderstood function in a business.

Project Management

We’d like to leave it to the pros!

Product Market Fit

Nirvana!

Portfolio

Product + product + product + product

Q

Question

Something we should practice often with our stakeholders, customers and anyone willing to talk to us.

R

Research

Product Managers in seek of answers.

Resilience

Much needed when working on a product no one in the company loves.

Return on Investment

Rewards for our efforts.

Roadmap

A communication tool which sells the how and the when of our product strategy.

S

Slideshare

A place to find and share rich information about products and services, theories and practices, opinions and commentary.

Scrum

Nothing to do with football but we do like to huddle daily.

SnagIt

A super tool to help us grab images and videos and present it as our own.

Stakeholder

Very important people to impress.

Sales

What EVERY single person wants more of and what EVERY single person complains about.

Strategy

A blueprint to navigate the course of the product’s life.

T

Twitter

A place for a little industry gossip in 140 characters.

Trello

A great tool to help us manage our tasks.

U

UserVoice

A tool to extract feedback from our customers.

User Experience

Must be designed from the ground up without missing a beat!

V

Visio

Helps us express 1000 words in a pretty little diagram.

Value

Our very being. It’s what we offer, do and create.

Vendor

Buy them a drink! They may be your next employer.

W

Win Back Analysis

An opportunity to learn from our mistakes.

Wireframe

A culmination of our product thoughts.

Wine

Red, white or pink liquid required to release tension after a long day.

X

X-Ray

What we use to see through excuses.

Y

You Send It

For those HUGE files we send and receive.

Z

Zero

The number of customers we would have if we don’t solve their problems.