API

A comprehensive overview of a company’s major competitors, specifically as it relates to their brand identity, website, advertising and other marketing efforts. Any communication channel could be considered during a competitor analysis, including paid ads, blogs and videos, print ads, website design, social media presence and more.

Lifetime Value (LTV) is a calculation of how much a new customer will be worth to your company over their entire lifetime.

This calculation can alter other calculations, such as the acceptable cost of acquiring a new customer. The initial value of that customer may be too low to justify a particular cost, but their LTV could justify the advertising cost to acquire them.

A Minimum Viable Product (MVP) is a term most often used in product development in business. It refers to the least a particular product needs to do in order to be usable by its intended user.

The purpose of the MVP is to create a usable product and get feedback on it immediately, before additional features are added. This can reduce development time by identifying flaws in a product early in the development process.

This can also relate to web-based applications, which often have non-core features that are not needed for the product to work well for a majority of its users.