Launching a new product is almost always a big risk. It may not be in demand by customers or understood by the audience, and competitors may have an easier solution to the problem.
The MVP model will help you check the viability of an idea in advance and ruce possible risks. It allows you to prict the commercial and technical potential of the project, and assess the level of future demand. In this article, we will tell you what MVP is and how to use this tool correctly.
What is MVP
MVP, or Minimum Viable Product, is translat as a minimum viable product. MVP is the initial version of a product that has the simplest functionality, but can still solve a client’s task or problem. That is, such a product implements its main value for the consumer, and it can be us immiately.
For example, the founders of Uber start their work with a country email list very simple application. Previously, it was only possible to order a taxi, link a card and pay for the ride. The fleet at that time consist of only three cars. This application was the minimum viable product that allow them to test the relevance of the idea.
MVP is a minimal, but ready-to-use product that can be challenges in managing work tasks subsequently improv. Prototypes, alpha and beta versions of the product, unlike MVP, may contain bugs and errors. In addition, they do not enter the market, which means they are not available to a wide range of people, and their real demand is difficult to assess.
What business problems does MVP solve?
The main goal of MVP is to test the demand for the product and the viability zn business directory of the idea in practice, as well as to confirm that the direction of work is correct. But this tool also helps in other matters:
Saves resources, ruces time and effort for product creation and testing.
Allows you to receive feback from the market, identify unaccount for audience nes, analyze points of contact with them and subsequently adjust the strategy.
