Product Development powered by Minimal Viable Product
A major challenge faced in product development, especially with newly introduced products, is to validate whether or not the product solves problems and delivers value to it’s target group. It is common practice to develop products based on assumptions without involvement of real users. As a consequence the risks of failure and waste of costs is accepted. Even expensive market analysis cannot eliminate uncertainty about the product’s value to real users. Obtaining valid feedback and learn from a product that doesn’t exist yet can be difficult, which leads to a high degree of uncertainty in terms of features the product should contain. Why would you take that risks while real users are available to support you gathering insights and validate the product? The …
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