At RESPONSE, you can gain full support for developing your MVP (Minimum Viable Product).
The MVP is an important step in the software development process that allows you to preview and test the product to make necessary adjustments before releasing the final version with all features. The MVP is very often used for start-ups as a great way to start.
Five essential steps when we develop the MVP:
- Market research
- Goal and main user identification
- Choosing features that are most relevant for the user
- Develop the MVP
- Receiving the feedback and analysing results
What is a Minimum Viable Product (MVP)?
A minimum viable product, or MVP, is a product with enough features to attract early-adopter customers and validate a product idea early in the product development cycle In industries like software, the MVP can help the product team get feedback from users as soon as possible so they can iterate and make the product better.
The MVP is a key part of agile development because the Agile method is based on validating and iterating products based on user feedback.
The term MVP is a part of the Lean Start-up methodology that aims to reduce waste, optimise business processes, and make start-ups smarter, not harder.
What Are the Main Benefits of MVP?
The process of building an MVP drives a lot of benefits for companies in the process of software and application development.
Without developing the MVP, you might face a larger initial investment in software development and a higher risk when it comes to releasing your product into the market.
The MVP serves as a trial round that allows you to see your idea in action and make the necessary adjustments to make it more appealing and valuable to the user. If you launch your app with a lot of features, it will be much harder to adjust in the future.
Due to step-by-step development, the cost of building the MVP is much lower than the final version of a product. Furthermore, when your app starts to bring some profit, you can reinvest it in the development of additional features.
Finally, building the MVP can also attract investors. With a working product, your chances of attracting funding and interest from VCs (Venture Capitalists) and angel investors will increase.