Terminology new product must know

[Core Tip] Product Manager mouth that we do not understand, or listened to half understand what is the meaning of the word? Here to organize some heard, once confused, and now come to understand "Terminology".

Write in front

As a designer, the most contact person in the company, presumably is the product manager. So what do you mean by the word manager in the product manager's mouth that we do not understand, or if we have heard a half-understand? Here's what I've heard, once confused, Jargon ", to become a popular industry knowledge, for everyone to exchange, and secondly to myself as a note, this is one of my original intention to create this blog friends - study notes. If the article has written wrong place; or you know other product managers commonly used language, not here; or you for those "words" do not know what you want to know, you can directly respond to my little network light Blog "Tonghua", I will add these later in the update.

The difference between PD and PM

PD (Product Director) is the product manager, PM (Project Manager) is the project manager, are managers, but do not do the same, which is often confused by the concept of entering the workplace of the two concepts (in fact, I have never done Cleared).

"Internet product managers are usually the people who manage and market existing Internet products and are responsible for developing new products."

- "Network" Second Edition, Wang Jian

"The project manager is responsible for implementing quality, safety, schedule and cost management of the project, comprehensively improving the project management level, leading the project team on time and quality within the budget to complete all the project work content and satisfy the customers."

- Excerpt from "Baidu Encyclopedia"

Put simply: the product manager is responsible for the operation of the product and the project manager is responsible for the product's resources. The two collaborate, from different aspects to creating their own contribution to quality products.

Product manager does not necessarily have the project management experience, he considered more is why to do and what to do, how to put the product idea down, probably not an expert. The project manager is an expert who uses the limited resources to make things happen within the deadline, and he is only responsible for the project. He is responsible for the planning, execution and acceptance of the project and is not responsible for the entire product.

Blue Ocean and the Red Sea

The so-called blue ocean, refers to the unknown market space, that has not been involved, or only very few people involved and have not done too much market. Such a market, if successful, will be a fantastic time because you are in absolute dominance during this time until your competitors catch up. Do the core business, make enough difference, can help you to extend your Blue Ocean period as much as possible to ensure your interests.

The so-called Red Sea, refers to the more developed already very competitive market. It's hard for newcomers in the Red Sea to make a big difference in the short term unless you have a bigger advantage over your competitors in one direction or if you allow investors and early adopters to see your tremendous growth potential or are you Another piece of the Red Sea has a very good reputation, now cross into the industry.

C2C

C2C has two meanings, one is Customer to customer, customer service to customers, usually in the form of a platform, a bit like a mediator or notary role, such as Taobao is a typical C2C platform.

There is also a meaning, Copy to China, copied to China, that is, has been the public as "plagiarism" behavior. In fact, from a professional point of view, in addition to patents, domain names, user databases, design elements, source code and other legal protection by the owner or as a trade secret by the owner's own protection of "private resources", the world there are many public Resources, the so-called "similarities" caused by the use of public resources, are in fact just unintelligible understandings. A product does not mean that it must be made from head to toe. Everywhere a brand new invention or design can be counted as original. The act of "reinventing the wheel" is actually not desirable. Apple is not the first to invent a cell phone. Windows is not invented by Microsoft. Google did not invent a search engine. Facebook is not the first one to put forward the concept of a social network. The companies that are known as "truly innovative" are not Inventors, who did exactly the right thing at the right time, brought together many things that were then public resources. In fact, in this world that has been well developed, there are fewer things that can be "invented", more improvements, and better preparedness. So C2C is not shameful, the premise is not a full copy.

Barriers to Entry

Barriers to entry deserve to be access to a market, depending on their skills, costs, possession of specific resources, and the extent of their adversary's development. If you get into barriers such as wanting to be a search engine that goes beyond Google, it's rare on Earth, and if the barriers to entry are too low for everyone to do, that means your blue ocean hours Will be short and may not be enough to support the long-term growth of users.

commercial value

Business model refers to how a product creates value. In chivalrous terms, that is, how to make money, broadly speaking, in addition to economic value, there are social values ​​and other forms of value. For example, many open source organizations, although not profitable on their own, rely solely on some foundations to maintain their own operations but have created a great deal of social value. Although this does not have the taste of money, it is still called "commercial" value.

industry

The traditional division of industries is "agriculture - industry - service industry", corresponding to the primary industry, secondary industry and tertiary industry. But Alvin Toffler put forward a new method of division in the 1970s, namely "manufacturing (commodity) - service industry - experience industry"

If you charge for goods and physical things, then you are manufacturing (still products); if you charge for your own activities, then you are engaged in services; only if you are consumers and you are When you charge for the time together, you are considered into the experience industry.

- "The Experience Economy" Joseph Pine II & James H. Gilmore

Platform products

The so-called platform products, that is, through its own resources to pull the other products. Platform products have a strong vitality and ability to pull, if successful, is often the cornerstone of a company. For example QQ, Baidu, Google, Microsoft and so on.

The most frightening thing about platform products is the "latecomer first" effect. With a platform product, a company can replicate its competitor's concepts with experimental results and then replicate it on its own platform, leveraging the size of its user base and the ability to reach users so that late-released products quickly outperform their starting products. A new concept first educates users and tells everyone what benefits they can bring before users start trying them out. Lack of platform companies spend a lot of time and money at this stage. Platform products have ready-made users, but also to promote the product directly to the user.

Cash cow products

Cash cow products are products with extremely high profit margins, and profits account for a large proportion of the company's total profit. For example, World of Warcraft, billion degrees occupy 90% of Ninetowns' revenue and was once the most important cash cow in NINETOWNS. Some platform products itself is the largest cash cow products, such as Baidu search, both a platform and a cash cow

Financing process

An Internet start-up company, if you want to take the financing line, the smooth words will be roughly the process:

Angels invested 100,000 US dollars, accounting for 10% of the shares;

The first round of venture capital 1 million US dollars, accounting for 20% of shares;

The second round of venture capital 10 million US dollars, accounting for 30% of shares;

IPO (Initial Public Offering, initial public offering, that is, listing) financing 100 million US dollars.

【Tips】 angel investment and venture capital difference is that angel investors mainly use their own personal funds for investment, start-up companies will start investing funds, and venture capital is a professional investment company, its capital is more abundant, usually not Will consider the investment of 1 million dollars or less.

The continuous financing process of a startup is essentially a process in which its business grows too quickly and is constantly losing money. It requires buying a large amount of servers and bandwidth, requiring more talent and requiring more marketing. If rich money enters, it will be able to run fast and run all the way to the IPO, so that all investors in the middle can get a high return. The reason why angel investors and VCs have little interest in the profit of 200,000 yuan per month is because they can not see the prospect of its listing.

However, not all Internet companies are able to go IPO with money. Some small companies, venture capital funds, and even angel investments are enough to make them work well and the days of employees and the boss are extraordinary Moisturizing This time is not necessary to continue financing. Because at this time there is no special direction for the lack of money, as long as the money smashed into the user can become a geometric progression.

PDD

PDD (Product Design Document) product design documentation is an important tool along with the connection concept and execution throughout the product life cycle. It helps product teams reach a consensus with the R & D team and top leaders to define the R & D plan and guide the R & D process.

PPD mainly includes three types of drawings: Website Architecture Map, Wireframe or Mockups and Page Description Diagram.

Site map is usually displayed in the form of mind map, which is used to describe the structure of the entire website, to determine the site's module division and the number of pages. Some places also called "site map." In drawing the website structure, pay attention to the principle of MECE (Mutually Exclusive Collectively Exhaustive), the Chinese meaning is "independent of each other, completely exhausted," that requires a clear classification, lower barriers to understanding, non-repetitive, not missing. You can do this using MindManager, Omnigraffle, XMind, and more.

Site blueprint, there is a name of "interactive design", describes a web page need to include the basic elements of the layout of the machine in this page, it will eventually be refined by the graphical interface designer into a beautiful web design. This is usually done using tools like Axure, Visio, Fireworks, Photoshop, Balsamiq Mockups. Small companies are usually the sole responsibility of product managers, large companies will have a dedicated interaction designer to complete the cooperation.

Web page description table is the best of these three types of "document" concept, because it can be a word document. It contains the elements of a web page to be displayed and the logic behind it, and does not include the layout of these elements in the page (which is in the site blueprint). For example: domain name, title, Logo, module name and description, copyright information.

PDD target users, the first is the product team, the need to reach a consensus within the team; then a research and development team to confirm the feasibility and R & D costs; and R & D departments will be followed by assessment comments given to the senior leadership to confirm the project cycle , The clapboard resources; PDD back to the R & D team to guide the specific R & D work after the project started, at the same time into the test team to help develop the test plan. Occasionally external partners may also need to review the PDD in order to complete some collaborative projects. One of the most important target users is the R & D team, because they are the core force to achieve all the design, as for the leadership there, or ppt and keynote to get the most effective.

CRUD

Create, Retrieve, Update, Delete, sometimes abbreviated as "C & D" This is the most commonly used 4 basic methods in object-oriented design. This is a must-have in the database, but as a product manager for an Internet company, this is often the case.

Closed-loop user tasks

Refers to a series of links to help users complete the task, these links can respond to the task may occur in various situations.

Murphy's Law

The original meaning of Murphy's law is to say that if things are likely to get worse, no matter how small the possibility is, it always happens. Simply put, "the more afraid of the accident, the more accidents."

Put it in the Internet industry is usually like this:

Any input box, will encounter irrigation, SPAM, script injection

Any integral, will be brush

Anyone pushing to the homepage content, there will be pornography, politics

All channels of communication between users, will be used by advertising robots

For envy management, it may be this:

If there is only one person in charge of a job, this person will definitely leave or leave

Think there is no technical difficulties, will become a technical difficulty or performance bottlenecks

Website packaging

A word explaining what a good "website packaging" is: What is Slogan + What are the benefits? Always follow this principle, allowing users to know at first glance what your site is doing.

Chinese-style complex

The level of education of Chinese netizens is uneven. If a website is not designed to be complex, there will be users who think it is not strong enough. Many Internet users will not use the channel navigation to view their own content of interest, or even turn pages, as much as possible to piling home page can really help these users. Unfortunately, this kind of Chinese-style, complex, and bad currency drive away the taste of good money, causing the design of Chinese websites to enter a vicious cycle that is not complicated.

The harder it is to comprehend, learn and remember, the more complicated things are, so keep in mind "Occam's Razor's Law" - if not necessary, do not add entities. It takes a lot of courage and perseverance to be as simple as Google, but it's a lot easier to complicate the interface of a product. Fortunately, today there are search engine, online payment, microblogging, buy courage and simple products, can help users to gradually understand what is a good product and how to use Internet products.

Eliminate the number

Users like to eliminate numbers, such as "the number of unread mail (3)", the user in the task and task of free time will click on the link, so as to achieve the purpose of eliminating numbers. A small amount of numbers can stimulate the user's desire to click, if the number is too large will be the pressure in turn, the user too lazy to look at the article. So you need to set a line for such numbers, such as 100, when the number of messages is greater than 100, it is displayed in a similar "100 +" form.

PDCA

This is a framework for continuous improvement of products. Plan + Do + Check + Act to identify development goals and key tasks required to meet development goals initially, and then follow the plan Implement and constantly check the implementation of the plan and give timely advice.

CE

Customer Engagement, User Engagement This is a very important part of Web 2.0 thinking, that is, leveraging collective wisdom. Although product managers can constantly find problems by using products frequently, personal power is limited after all, allowing users to come together to discover more problems and hear the voices of the users. (In Tencent, "universal CE" has become a wave, implement every Tencent)

The main method of CE:

Provide a clear feedback portal that guides users to the feedback forum to post their complaints and suggestions and promptly respond and process

Subscribe to the search for product keywords to find out about feedback outside the official feedback forum, giving feedback and handling as well

Build or join a core user base to get their ideas the first time and easily test some product concepts

Through the user behavior video tools or home users with the method of tracking individual users to use behavior and found that he is in the use of obstacles to solve these problems

Re-visit the lost users to analyze the reasons for the loss, improve the product to reduce the user's churn rate

KPI

Key Performance Indicators, Key Performance Indicators. It reduces the assessment of performance to several key indicators of assessment, the key indicators as an assessment criteria, the performance of the staff and key indicators to make a comparative assessment of the method, to some extent, can be said that the goal of management and Pare Law binding law effectively. The key indicators must be SMART principles: Specific, Measurable, Attainable, Relevant, Time-based.

Closed experience

If user experience of using A product is superposed on experience of using B product, it can be said that the combination of A product and B product forms a "closed experience" relative to the value added or low cost of competing products using A product price B, .

The closed experience, along with the display area, the overlap between the platform user and the user who is pulling the product target, all contribute to the conversion rate.

MVP

Note that MVP at the manager's mouth and MVP at the basketball court may not be a concept, though many companies award MVPs to employees as most Valuable Player (MVP), here cited as the most valuable employee , The term player more solution), but more often, the product manager called MVP refers to the Minimum Viable Product, the smallest feasible product, that is, with a minimum cost to achieve as much as possible to demonstrate the core concepts of products, product teams It can collect as much user feedback and data as possible to assess the benefits this product can bring.