Welcome to the Part 1 of Product Management terms explained. Watch top 10 Product Management Interview Questions & Answers (Hindi): https://youtu.be/vH99LX4QQjY

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Part 1

BAU (Business-As-Usual) refers to the normal or expected level of activity within a business or organization. It is often used to compare current performance to a baseline or to measure progress against a plan.

MAU (Monthly Active Users) refers to the number of unique users who engage with a product or service within a given month. It is a common metric used to measure the popularity and engagement of a product.

TOFU (Top-of-Funnel) refers to the early stages of the customer journey, where users are first becoming aware of a product or service and considering whether to try it.

Here are some additional examples of metrics that are commonly used in product management:

1. Customer acquisition cost (CAC): The cost of acquiring a new customer, including marketing and sales expenses.
2. Lifetime value (LTV): The total value a customer is expected to generate for the business over their lifetime.
3. Conversion rate: The percentage of users who take a desired action, such as making a purchase or completing a form.
4. Retention rate: The percentage of users who continue to use a product over time.
5. Churn rate: The percentage of users who stop using a product.
6. Net promoter score (NPS): A measure of customer loyalty and satisfaction, calculated by asking customers to rate the likelihood that they would recommend the product to others on a scale of 0 to 10.
7. Engagement: A measure of the extent to which users interact with a product, including metrics such as the number of page views or the amount of time spent using the product.

Product managers should choose the appropriate metrics to track and monitor based on their business goals and the specific needs of their product.

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⏲Timeline
00:00:00 Introduction
00:00:28 MAU
00:01:18 TOFU
00:01:47 User stories
00:02:22 Customer Acquisition cost (CAC)
00:02:45 Lifetime value (LTV)
00:03:11 Conversion rate
00:03:38 Retention rate
00:04:11 Churn rate
00:05:20 Engagement rate
00:05:52 BAU (Business as usual)

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