Operation & Product丨7 categories and 46 professional terms

Part 1: Product Manager Terms

1. BRD : Business Requirement Document, which answers the question of what is the value of the product? That is, what problem does this product solve?

The target audience is: bosses, investors, and shareholders. The purpose is to let them know how this product can bring profits to the company; the focus is on demand description and profit model.

2. MRD: Market Requirements Document. It answers questions such as what similar competing products are there in the market (competitive landscape), why our company is suitable for this product (competitive advantage), and what are the chances of our product’s success? (Market Opportunities)

The audience of this document is: bosses, operations , and marketing. It is mainly to let operations and sales know what the product's advantages are compared to competing products, so as to better introduce the product's advantages to users. The writing focus is on the competitive situation and what conveniences it can bring to users.

3. PRD: Product Requirement Document. The question it answers is what our product solution is, that is, the specific details of this product.

The audience is developers, and the purpose is to let developers know how to develop requirements according to the product manager 's ideas; the focus is on requirement description, requirement logic, and requirement prototype.

4. B2C: Business to individual, one end of the platform is the merchant and the other end is the ordinary user, such as JD.com and Tmall

5. B2B : Business to business, both parties of the platform transaction are merchants, such as Alibaba

6. C2C: Individual to individual, both parties of the platform transaction are ordinary users, such as Taobao, Xianyu, and Zhuanzhuan

Part II: Advertising-related terms

1. Search advertising: The most typical one is Baidu’s bidding advertising. Merchants bid to purchase keywords, and when the content searched by users triggers the keywords, the corresponding ads are displayed in the search list.

2. Display ads: Banner, vertical border, full-column and other ad spaces on information websites are all display ads. For example, the picture ads at the bottom of WeChat official accounts

3. Splash screen ads: After most apps are launched, you will see a full-screen ad, which will be displayed for 3-5 seconds. For example, Zhihu, Douban, Xiaohongshu, etc.

4. Information flow ads: Ads inserted into information lists in the form of articles, pictures, videos, etc., commonly seen in content products, such as information that frequently appears in apps such as Baidu, Zhihu, and Toutiao and is marked with the word "advertisement"

5. Video ads: On video websites such as iQiyi, Youku, and Tencent Video, when we have not purchased a membership, ads will appear before, during, and pause the video.

6. SEM: (Search Engine Marketing ): Translated as search engine marketing, it is to use the opportunity of users to retrieve information based on the way users use search engines to deliver marketing information to target users as much as possible. It is the optimization of bidding ranking in search engines, that is, SEM requires money.

For example, when I search for Huawei mobile phones, the advertisements on Huawei’s official website are SEM. That is, when users search for the keyword "Huawei mobile phone", Huawei's official website needs to pay Baidu money if it wants to rank in the top few positions.

7. SEO: (Search Engine Optimization): Chinese translation is search engine optimization. One way is to use the rules of search engines to improve the natural ranking of websites in relevant search engines, that is, SEO is free.

Similarly, when searching for Huawei mobile phones, the few words behind them that do not have the word "advertisement" are the search engine's natural rankings. You don't need to spend money on them, but you can optimize your rankings through certain means, which is what we often call SEO optimization.

Common advertising billing models:

1. CPM (Cost Per Thousand Impressions): Charges are made as long as there is exposure, regardless of subsequent processes such as clicks, downloads or registrations. This type is suitable for advertisers who want to expand their brand awareness. Display ads and splash screen ads on early portal websites generally adopted this model.

2. CPC (Cost Per Click): Under this billing model, advertisers do not need to pay no matter how many times the ad is displayed as long as the user does not click on it. Billing only starts when the user clicks on it. This method is more friendly to advertisers because it firstly increases the difficulty of media cheating and secondly can detect the traffic quality of each platform. Currently, this form is common in paid ranking advertising and information flow advertising.

3. CPA (Cost Per Action): A refers to Action. The specific content of user actions is diverse, which can be in the form of download, installation, purchase, registration, etc. The specific action needs to be negotiated between the advertiser and the traffic owner during the advertising negotiation. Only when the user takes the negotiated action, the advertiser will pay.

So we can see CPD (Cost Per Download), CPI (Cost Per Install), and CPS (Cost Per Sales). This format is suitable for advertisers who need clear conversion actions such as app downloads and adding new users.

Relatively speaking, the CPM format is suitable for advertisers who focus on promoting brands and belongs to brand advertising; CPC and CPA are performance advertising and tend to protect the interests of advertisers.

Part III: Operation-related professional terms

1. AARRR model: Acquisition, Activation, Retention, Revenue, and Refer, which correspond to the five important links in the life cycle of a mobile application. They are: acquiring users, increasing activity, improving retention rate, generating revenue, and self-propagation.

2. RFM user model: R (Recency) indicates how long ago the customer's last purchase was, F (Frequency) indicates the number of times the customer has purchased in the recent period, and M (Monetary) indicates the amount of money the customer has purchased in the recent period.

3. S-curve and J-curve of user growth: Most products will follow the S-curve growth pattern during the product development cycle; but some products may produce a J-curve.

4. New users : Acquiring new users means getting someone who has never used the product to start using our product.

5. Retention: Keep users on the platform. After users have used the product once, we want them to continue using the product.

6. Promote activation: make users active. Allow users to produce and consume more content on the platform. For example, community products need to continuously promote user activity through operational means.

Part 4: Data Analysis Related

1. PV: Page views. If the same account visits the same page twice, PV is counted as 2 times.

2. UV: number of page visitors. If the same account visits the same page twice, UV is counted as 1.

3. DAU: also known as daily active users, refers to the number of users who open the app in one day, so DAU is calculated based on UV

4. MAU: also known as monthly active users, refers to the number of users who open the app within a month, so MAU also refers to UV

5. Retention rate: The proportion of new users who return in the following days.

6. Next-day retention: For example, if 10 new users are added today, and 7 of these 10 users open the app again tomorrow, the next-day retention rate is 70%.

7. 7-day retention rate: For example, if 10 new users are added today, and 3 of these 10 users open the app again on the 7th day after registration, then the 7-day retention rate is 30%.

8. Customer acquisition channels: channels for acquiring new users. For example, if you followed my official account: Boss Xue’s Product Party through this Zhihu answer, then Zhihu is a customer acquisition channel for my official account.

Part 5: Technology-related terms

1. Interface: It can be simply understood as a channel for data transmission. For example, information transmission between the client and the server is through the interface.

2. Communication : It is the operation of information transmission, such as communication between client and server

3. Reporting: generally refers to reporting to the server, that is, data flows (reports) from the client to the server

4. Pull: refers to the process in which the client requests data from the server after the user opens the app.

5. Concurrency: How many users are using the product and requesting data at the same time.

6. Packet loss: Data is lost due to network anomalies during the reporting process.

7. Online: After the functional testing is complete, the R&D team will package and release the product to major application markets and app stores for users to use.

Part 6: Testing-related terminology

1. Submit for testing: After the R&D is completed, the product is packaged and submitted to the tester for testing.

2. Recurrence: The bug found in the previous test appears again

3. Test case: The test process and items written by the tester based on the product manager's PRD

4. Functional testing: testing of a single function. For example, if we want to develop a sharing function in this iteration, the functional testing only tests whether the sharing function meets the product requirements.

5. Regression testing: can be understood as overall testing. This iteration will launch a sharing function and test whether this function affects the normal use of other functions.

6. Test report: After the test is completed, the tester writes an email stating that all bugs have been fixed and the product is ready to go online.

Part VII: Project-related terms

1. Project schedule: In order to ensure that the project is launched on time, the project schedule will be used to determine the specific work content and start and end time of each participant.

2. Agile development: The method of breaking down product functions, designing and implementing only part of the product at a time, and then completing the entire product/function step by step is called agile development.

3. Requirements review: The project manager organizes the product manager, R&D, testing, and UI to listen to the product manager explain the requirements.

Author: Boss Xue

Source: Boss Xue