P: 13 terms

Product Lifecycle

It’s the process a product goes through from when it is first introduced into the market until the use declines or the product is removed from the market. The product lifecycle has four stages that …

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Promoter

In the Net Promoter Score calculation, customers who give a score of 9 or 10 on the 0-10 scale are considered as promoters and are referring to customers that are typically loyal (See Loyalty), enthusiastic, …

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Prototype

It is a sample, model, or release of a product that has not yet been fully completed. Especially in design thinking, prototypes are produced and feedback is received from customers before finalizing the product. After …

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