📘 Essential Product Management Terms (with Examples)

Product Strategy & Vision

• Vision Statement
• Mission Statement
• North Star Metric
• Product-Market Fit (PMF)
• Unique Value Proposition (UVP)
• Total Addressable Market (TAM)

Product Development & Agile

• Minimum Viable Product (MVP)
• Product Requirements Document (PRD)
• User Stories
• Epics
• Backlog
• Sprint
• Daily Standup

Metrics & Data

• Activation Rate
• Retention Rate
• Churn Rate