Design Thinking Flashcards
Definition and goal of a product
Something that someone offers in exchange for money (Usually). The Goal of ANY product: solve a “problem” for the customer.
What do Products have to have and should have?
Name: Memorable, Value Proposition: clearly solves a problem. Ideal product is one that is the first or only that is the best at solving a huge problem
What is a Value Proposition / what should it have?
A marketing statement that is meant to attract customers towards the product or company.
An advantage over the competition, Clear problem statement. (Usually a mini paragraph to entice peoples it seems…)
What is a Disruption? Who are great at them
A product that significantly enhances the current state of a solution. Slack?, Netflix.
Starts up a great at them because they can take a lot of risks. Focus on new problems, and there are more start-ups than functioning companies
What is User-Centered Design (UCD)?
Design, optimize and upgrade the design of the system for the user. In order to know what they need you need to have a strong intuition, have some practical experience and prototype a lot.
How to do User-Centered Design (UCD)
Principles:
- Simplicity of use to the point of intuitiveness
- High visibility and no surprises
- Product does what it’s supposed to do
- Admit and embrace limitations and constraints
Steps:
- Identify User
- Clearly identify their problem and analyze existing solutions
- Review, evaluate and iterate
Describe Design Thinking
A high-level way of thinking is design-thinking that has 5 stages
- Empathize: understand the end-user and audience
- Define: Formulate problem and define the challenge in detail
- Brainstorm (Ideate)
- Prototype
- Test
Should always be going back to the user (Empathize)
How to perform SWOT Analysis
Strengths:
- What advantages does your organization have?
- What do you do better than anyone else?
- What unique or lowest-cost resources can you draw upon that others can’t?
- What do people in your market see as your strengths?
- What factors mean that you “get the sale”?
Weaknesses:
- What could you improve?
- What should you avoid?
- What are people in your market likely to see as weaknesses?
- What factors lose you sales?
Opportunities:
- What good opportunities can you spot?
- What interesting trends are you aware of?
Threats:
- What obstacles do you face?
- What are your competitors doing?
- Are quality standards or specifications for your job, products or services changing?
- Is changing technology threatening your position?
- Could any of your weaknesses seriously threaten your business?
What type of Users do you want in Start-up(Not hard)
Early Adopters: Want Evangelists (People who won’t shut up about your product)
What is your Target Market?
The type of group of users that a product or service is aimed at. Every product needs a clear target market. Needs to be defined in terms of:
demographics, purchasing power/ potential, psychology,
Could be:
Age, gender, job, ethnicity, geographical location, technology literacy, education, job, income, marital status, etc.
What is the Total Addressable Market? (TAM)
The total opportunity for a product in number of units (or $$$). How to calculate:
- Top-down (Use research and reports carried out by 3rd parties)
- Bottom-Up: extrapolating the data from early selling efforts.
Mix of the two is usually used
What is Product-Market Fit (PMF)
To gauge whether there is a good match/fit between “users” and the “product”. This is step 4 of UCD testing where a conceptual product solves the problem.
- Dictates whether pivots are needed or not
- Also whether the market is large enough
How to gauge PMF
- Talk to people, organize focus groups, hackathons, questionnaires.
40% RULE. If 40% of people interviewed think it’s a must have then it’s probably a good concept
What is Minimum Viable Product?
The minimum set of features that achieves the product goals
- Law of diminishing returns: beyond a certain point, the value added is not worth the effort put in
GOALs of MVP: Solve the problem and achieve PMF, robust and bug-free
What is Positioning?
To evaluate with respect to similar products/ technologies in the market, figure out were you can make some mulla from and potentially decide what kind of product to design/launch
How does one decide dependencies?
Design choices have a domino effect
- Better camera needs more pixels and will require more memory… Other shit
Goal: Minimize dependences
