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What is MVP? A minimum viable product (MVP) is a development technique in which a new product, software, mobile app or website is developed with sufficient features to satisfy early users. The final complete set is considered after getting the feedback of the product’s users. With the MVP, you can test your concept with real customers and with their immediate feedback that continue to build a product that they simply want. This is the development technique for the early adopters who can see their vision for final products and provide the valuable feedbacks that are needed to guide developers through their vision of the final product. The main purpose of MVP is to launch a product quickly, based on idea, with a small budget. It also allows user to give feedback for the developed product and also future iterations. MVP implies finding that what your business is offering to users and what users actually need.
Benefits of MVP:
- It is used to test a product description with minimal resources.
- Accelerate learning with the minimized time.
- Brand building very quickly.
- High ROI with low risks.
- MVP makes the development faster.
- Reduces cost with increasing efficiency, customer relationships and product quality.
- MVP creates relations with customer very quickly.
- MVP brings focus to critical business functions.
Testing of MVP Product:Â Result of this product test aim is to indicate whether to start building the product. Testing of this product also evaluates if the initial problem is solved in a manner that makes us to move forward with this product.
Time Duration: We evaluate the time durations based on few factors such as complexity of the project, list of modules & features, technology stacks, and the development platform. It’s a bit crucial to define the timeline without knowing above information. However, based on our industry experts research and the number of projects delivered, We can indicate the ballpark timeline which is roughly one to one and half month.
Conclusion of MVP: Once MVP is built and launched to prospective customers than they can get conclusions from the customer’s feedback and get to understand that what delighted them and what they wouldn’t like to use. The conclusion for MVP is that it’s a product developed with minimal resources as well as minimized time that is more beneficial for everyone. Also MVP reduces money and time spent on product, software, mobile app and website development.
