product-iteration

Vocabulary Word

Definition

'Product iteration' is all about making changes and improvements to a product. You make a version, test it, learn from it, and make a better version. It's like leveling up a video game character!

Examples in Different Contexts

In consumer electronics, 'product iteration' involves the release of updated versions of a device with improvements and new features. A product manager might discuss, 'Through careful analysis of market trends and customer demands, each product iteration seeks to strengthen our brand's market position and satisfy consumer needs.'

Practice Scenarios

Marketing

Scenario:

Whilst the sales are good, we could definitely do a better job of segmenting our markets. It could lead to more personalized products.

Response:

That's a good point, segmentation could indeed lead to more tailored product iterations for our diverse client base.

Business

Scenario:

We've been receiving quite a few suggestions about our new smartwatch. Maybe we should consider these for our next update.

Response:

I agree, user feedback is crucial for our product iteration. Let's devise a plan with a focus on the most requested features.