Stephanie's Study Guide - Agile Product Management, SAFe Agile Product Management (APM) (A+ Guaranteed)

coarse-grained level of product correct answers description od a Product at the level that captures the Product essence - the information considered critical to develop and launch a winning product excel correct answers v. To do well; to be better or greater than others. eg: In which areas the product is going to excel? Product value correct answers The worth assigned to the product by the customer Q: which needs will the product address? What value does the product add? feasible correct answers reasonable; capable of being carried out lock in customers correct answers making it difficult or expensive for customers to switch to another product sources of revenue correct answers sales and fees earned target price correct answers price based on customers' perceived value for the product and the price that competitors charge Q: what is the target price? competitors correct answers companies in the same industry that sell similar products or services to customers springboard correct answers 1. An object used to power/spring a gymnast over something. 2. a beginning from which an enterprise is launched Unique selling point correct answers Any aspect of a product that makes it stand out form those offered by rival businesses, Any aspect of or characteristic of a product that differentiates it from the competition. Firms will often want to stress this in their marketing. Product Vision correct answers a brief statement of the desired future state that would be achieved through the project initiative. Pichler: The vision should communicate the essence of the future product in a concise manner and describe a shared goal that provides direction but is broad enough to facilitate creativity. Should be: shared and unifying: people are connected, bound together by a common aspiration; broad and engaging: goal that guides the development efforts but leaves enough room for creativity, consensus driven goal; short and sweet: less is more