Pricing & Revenue
A pricing model where a basic version is free, but advanced features or capacity require a paid subscription.
What is Freemium?
Testing two different versions of a feature simultaneously to see which performs better.
What is A/B Testing?
A fixed period (usually 2 weeks) during which specific work must be completed and reviewed.
What is a Sprint?
Providing a high-priced "decoy" option to make a middle-priced option look like a better value.
What is Anchoring (or Price Anchoring)?
This company famously pivoted from a DVD-by-mail service to a streaming and original content powerhouse, effectively killing the video rental industry.
What is Netflix?
This 3-letter acronym represents the total cost (marketing, sales, etc.) to convince a customer to buy.
What is CAC (Customer Acquisition Cost)?
The "middleman" interface that allows two different applications to communicate and share data.
What is an API (Application Programming Interface)?
Acting as the "voice of the customer," this role ensures the team builds features that provide the most value and prioritizes the backlog.
Who is the Product Owner?
The psychological trigger that makes a product feel more valuable because supply or time is limited.
What is Scarcity?
To stay relevant against a rival, Instagram "borrowed" this ephemeral feature originally known for disappearing after 24 hours.
What are Stories?
This metric calculates the total revenue a business expects from one customer over their entire relationship.
What is LTV or CLV (Lifetime Value, or Customer Lifetime Value)?
This specific metric tracks the percentage of users who stop using your product in a given timeframe.
What is Churn Rate?
This role helps the team follow Scrum values and remove blockers.
Who is the Scrum Master?
The tendency to continue an endeavor once an investment in money or time has been made, even if it's no longer logical.
What is the Sunk Cost Fallacy (or Sunk Cost)?
This 6-second video app was the king of viral loops before it was shut down, paving the way for TikTok.
What is Vine?
A strategy where a product is sold at a price below its market cost to stimulate the sales of other, more profitable goods.
What is a Loss Leader?
In statistics, you look at this value to decide if results are plausibly due to more than random chance.
What is a P-value?
These specific meetings facilitate inspection and adaptation throughout the development cycle.
What are Scrum Ceremonies (or Scrum Events)?
The tendency for users to follow the actions of others in their social network because they assume those actions reflect correct behavior.
What is Social Proof?
This mobile operating system, released in 2010, was praised for its design, but died because it couldn't attract developers or key apps.
What is Windows Phone?
This economic concept measures how much the quantity demanded changes when its price changes.
What is Price Elasticity?
Scrum teams use these unitless numbers in Agile development to estimate the relative effort and complexity of a task.
What are Story Points?
Explanation of a software feature written from the perspective of the end user: As a [User], I want to [Action], so that [I get this Benefit or Value].
What is a User Story?
The psychological "cost" or mental effort required for a user to learn and use a new product.
What is Cognitive Load?
This app popularized the "ephemeral" trend by allowing users to send photos and messages that disappeared after being viewed.
What is Snapchat?