A Minimal Viable Product (MVP) approach, is an important and useful part of a company's Go-To-Market-Strategy. This approach is useful to collect valuable interaction-driven information and feedback from users, much before the product is 'fully' mature. This strategy results in tangible benefits:
- the Minimal Viable Product (MVP) approach saves a lot of guesswork on the more advanced iterations of the product development lifecycle,
- the Minimal Viable Product (MVP) approach provides potential revenue(s) stream(s) at an early stage in the overall product development lifecycle,
- the Minimal Viable Product (MVP) approach significantly improves the morale of the Product Engineering and Business Teams through accurate data-driven innovation.
If you have any questions on the Minimal Viable Product (MVP) or on Product Management, then please contact us at Owl Consulting:)!!