E-commerce Strategies
A minimum viable product (MVP) is a version of a new product that includes only the essential features necessary to satisfy early adopters and gather feedback for future development. The concept of an MVP is central to agile methodology and lean startup principles, as it emphasizes rapid iteration and learning from user interactions to refine the product efficiently. By focusing on the core functionality, businesses can minimize initial development costs while maximizing insights into user needs and market demands.
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