The concept of MVP in business

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MVP is an abbreviation of the English expression. MVP stands for Minimum Viable Product, which means “Minimum Viable Product”. MVP is a basic version of any project (product, computer program, service, etc.) with basic functionality, which tends to expand and develop during the process of testing the reaction of the target audience to it.

Companies launching an MVP product assess the interest of potential consumers in a new project with the lowest costs and evaluate the prospects and directions in which the changsha mobile phone numbers database product will be developed and a strategy for its promotion on the market is developed.

The concept of MVP in business

The author of the term MVP is Frank Robinson, co-founder of the consulting company SyncDev. The MVP method gained popularity after the publication of Eric Ries' book "Business from Scratch. The Lean Startup Method". The concept is a synthesis of the directions of the project's evolutionary progress and marketing research, during which the functionality is adjusted, sometimes even the original development strategy is completely changed.

MVP development often has the characteristics of a cyclical process, with each iteration of “updating the product – providing it to the audience” the project gains new functionality and eventually becomes the final release. An example is the preliminary releases of computer games, in which potential gamers are invited to evaluate certain techniques or designs.

At the initial stages, the development of MVP is of a defining nature. The author of the project is still only developing the concept of his product. These functions, taking into account feedback, are subject to the Boolean type of logic, operating with two values ​​"true - false". That is, as a result of the test in the concept of the minimum viable product, false functions are discarded, positive ones are developed and fixed.

Not only a product, but also a process, such as a marketing strategy, can be subject to MVP testing. When analyzing a mailing, you can study the quality of lead generation, feedback, and the price of a potential buyer who responded to marketing communication.

Basic principles of creating and promoting MVP:

The priority task at the minimum viable product stage is to find temporary clients who will assist in the development and testing of the project.