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- sold online or through brick-and-mortar retailers, - sold online or through brick-and-mortar retailers,
- can be easily updated or modified to keep up with changing technology and trends because they're intangible, - can be easily updated or modified to keep up with changing technology and trends because they're intangible,
- often come with a license that allows a customer to use them in unlimited ways. - often come with a license that allows a customer to use them in unlimited ways.
- Will everything become digital? - Will everything become digital? #flashcard
- In practice, most products and experiences they are part of are _hybrid_. - In practice, most products and experiences they are part of are _hybrid_.
- **Why** digital products? - **Why** digital products? #flashcard
- Customer happiness is how you win in business. Modern customer expectations are being driven by largely digital technology and digital innovations. - Customer happiness is how you win in business. Modern customer expectations are being driven by largely digital technology and digital innovations.
- Low investment, (potentially) high returns - Low investment, (potentially) high returns
- More profitable than physical goods - More profitable than physical goods
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- Automated delivery for passive income - Automated delivery for passive income
- Serve a niche at scale - Serve a niche at scale
- Digital products offer unique ways to communicate directly with the customers. - Digital products offer unique ways to communicate directly with the customers.
- Digital Project Development - Digital Project Development #flashcard
- Phase 1. **Discovery**: the process of identifying the problem to be - Phase 1. **Discovery** :-> the process of identifying the problem to be
solved, making sure the problem is worth solving, and solved, making sure the problem is worth solving, and
envisioning the solution to that problem. envisioning the solution to that problem.
- Phase 2. **Ideate**: The goal is to brainstorm possible solutions to the - Phase 2. **Ideate** :-> The goal is to brainstorm possible solutions to the
problem identified in the discovery phase, creating a problem identified in the discovery phase, creating a
strategy for how to build a product that will solve that strategy for how to build a product that will solve that
problem. problem.
- Phase 3. **Test**: The testing phase is all about gathering data, - Phase 3. **Test** :-> The testing phase is all about gathering data,
refining and improving your idea, and gathering more data refining and improving your idea, and gathering more data
until you have a sharp idea. The testing phase should until you have a sharp idea. The testing phase should
involve at least four steps, known as the lean validation involve at least four steps, known as the lean validation
process process
- Phase 4. **Execute**: This stage aims to develop the“most - Phase 4. **Execute** :-> This stage aims to develop the“most
valuable player” namely the _Minimum Viable valuable player” namely the _Minimum Viable
Product (MVP)._ Product (MVP)._
- Phase 5. **Launch**: Once your MVP is ready to go, it’s time to launch. A - Phase 5. **Launch** :-> Once your MVP is ready to go, it’s time to launch. A
digital product launch usually means putting the MVP digital product launch usually means putting the MVP
on the market and giving customers their first crack at on the market and giving customers their first crack at
your solution. your solution.
- Phase 6. **Grow**: As refine the digital product into its final form, based on - Phase 6. **Grow** :-> As refine the digital product into its final form, based on
the feedback from the MVP launch, it’s time to consider the feedback from the MVP launch, it’s time to consider
the growth or scaling phase. the growth or scaling phase.
- Digital Project Management - Digital Project Management