How to create a Minimum Viable Product
Article Preview: A Minimum Viable Product is a win-win situation if there is a goal to test market demand without any risk for the company’s budget. Do you want to know, what are the business benefits of MVP development, what are the stages of the development process, what famous brands can be listed as Minimum Viable Product examples? All these aspects are discussed in detail in our new article titled “How to build a Minimum Viable Product: Stages, Benefits for a Business, Examples”.
When is it worth to choose the MVP Product Development?
It makes sense to choose an MVP when there is an idea that needs to be urgently tested. Indeed, a building of Minimum Viable Product allows in a short time and with a minimum budget to check the demand, to find out what to implement, what is wrong with user experience, etc.
There is no need to wait for years until the product is ready for release. The MVP benefits are that a product is done quickly. But still, it’s not a panacea for the business. This is a full-fledged development of a future product providing by experienced (as a rule, well-paid) programmers.
The work is ongoing in two directions: Marketing and Development.
At the Marketing stage, research needs to be conducted to find out what is the demand, who is the target audience, what competitors offer, how to stand out, how to promote the product, which media to collaborate with, etc.
The Development stage consists of two sub-steps: initial development, including the design and product testing phase, and further product development, taking into account the audience response. It may happen, the original version of the MVP has to be completely changed to meet the audience’s needs. The point is to respond as quickly as possible.
What else needs to be taken into account when planning to develop MVP is described in detail in the article. Come and read, so as not to miss something important about your future a Minimum Viable Product.