Product Management Glossary

Narrative Fallacy is a cognitive bias where individuals create a story or narrative to explain past events, even if the events are random or unconnected. This can lead to faulty decision-making and inaccurate predictions about the future.

Natural Language Processing (NLP) is a subfield of artificial intelligence that focuses on the interaction between computers and humans using natural language. It involves the processing and analysis of large amounts of natural language data to extract meaning and insights.

Nearshoring is the practice of outsourcing business processes or services to a nearby country, often for cost savings or to access specialized talent while maintaining geographic proximity.

Needfinding is the process of identifying and understanding the needs, wants, and desires of customers in order to develop products that meet those needs. It involves gathering information through various research methods and using that information to inform product development decisions.

Needs Assessment is the process of identifying and evaluating the needs and requirements of customers or users in order to develop products or services that meet those needs.

Negative Feedback in Product Management refers to the process of providing constructive criticism or pointing out flaws in a product or feature, in order to improve it and meet customer needs better.

Net Promoter Score (NPS) is a metric used in product management to measure customer loyalty and satisfaction by asking them how likely they are to recommend the product or service to friends and family.

Network Effect refers to the phenomenon where the value of a product or service increases as more people use it. This effect can create a virtuous cycle where more users attract even more users, leading to exponential growth.

New Product Development (NPD) is the process of creating and bringing a new product to the market, from ideation to launch. It involves market research, product design, testing, and commercialization.

Next Best Action (NBA) is a decision-making process used in product management to determine the most appropriate action to take for a specific customer or situation based on data analysis and business rules.

A niche market is a small, specialized segment of a larger market that can be targeted by a product or service that meets their specific needs or preferences.

A niche product is a product that is designed to meet the specific needs of a small and specialized market segment, rather than a mass market. It is often characterized by its unique features, high price point, and limited distribution channels.

Node.js is an open-source, cross-platform, back-end JavaScript runtime environment that executes JavaScript code outside a web browser.

A Non-Disclosure Agreement (NDA) is a legal contract between two or more parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties.

Non-Functional Requirements are the characteristics that a product must have, such as performance, usability, security, and reliability, that are not related to its specific functionality.

Non-Linear Growth is a phenomenon where the growth of a product or company is not proportional to the increase in resources or inputs. It occurs when a product gains momentum and experiences exponential growth, often due to network effects or viral marketing.

Nonlinear Scaling is a product management strategy where the growth of a product or feature is not directly proportional to the resources invested. Instead, the growth curve is exponential, with a small investment resulting in significant growth, followed by diminishing returns as the product reaches saturation.

The North Star Metric is a single metric that represents the core value that a product delivers to its customers. It is used as a guiding light for product development and decision-making, and helps to align the entire organization around a common goal.

NPS (Net Promoter Score) is a metric used to measure customer loyalty and satisfaction by asking customers how likely they are to recommend a product or service to others on a scale of 0-10. The score is calculated by subtracting the percentage of detractors (those who score 0-6) from the percentage of promoters (those who score 9-10).

Nurturing Leads refers to the process of building relationships with potential customers and guiding them through the sales funnel with the goal of converting them into paying customers.