Product Development and the MVP
Learning Goal: Utilize the product development process to build a product or service.
Learning Goal: Utilize the product development process to build a product or service.
Minimum Viable Product (MVP) - The MVP is the fastest way to achieve learning (Build. Measure. Learn.) about the customer with the least effort.
Minimum Viable Product
Minimum Viable Product
The minimum viable product is a test of a specific set of hypotheses or assumptions, with a goal of proving or disproving them as quickly as possible. In other words, the minimum viable product is the dough of a doughnut. You can have crazy good frosting but the dough has to be perfect. the dough is the foundation of every good doughnut.
The MVP will answer the following:
The MVP will answer the following:
- What will the customer care about? (Customer Gains and Pains)
- Am I targeting the correct customer? (Customer segment)
- Is this really the correct solution to the consumer problem? (Customer solution)
- Can I validate key attributes of the product? (Key business assumption)
Lesson Information
Lesson Information
Presentation
Presentation
ProductDevelopment.pdfVocabulary
Additional Reading
Student Activity
Develop a prototype for your food, survey user feedback and complete the product development template.
Template
Template
ProductDev-Template.pdf