Developing a product strategy focused on minimums rather than maximums leads to lower costs, greater agility, and a better alignment with customer needs through iterative feedback.
A minimum viable product (MVP) serves as the simplest version that can be released to validate an idea and gather essential user feedback early in development.
Using an MVP allows for early validation of product hypotheses and understanding genuine market demand without excessive initial investment, thus mitigating potential risks.
By incorporating user feedback from the MVP, product managers can tailor development more effectively. This ensures that enhancements are directly responsive to user preferences.
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