What is the Minimum Viable Product?
Miguel Nicolás
16/09/2021
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Minimum Viable Product or MVP is a key term in eCommerce that entrepreneurs are very familiar with.
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The Minimum Viable Product or MVP is a term entrepreneurs are very familiar with. In fact, it is key in some of the most applied methodologies and frameworks, such as the popular Lean Startup.
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What is Minimum Viable Product?
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The Minimum Viable Product is a practically definitive version of our product or service that can already go on sale but does not necessarily have to be the final one.In fact, it can be taken almost as a prototype that covers all the critical characteristics and precepts. It may not be 100% refined, but it serves a very important purpose: it allows validating the business.No matter how many previous market studies, user tests, surveys... There is a part of the business that we will not know until the product is actually in the market.This is why reaching that Minimum Viable Product gives us the possibility to evaluate and correct necessary aspects in an empirical way, with data in hand - a process also described as "data driven".
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The MVP is not necessarily a product
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This is a somewhat conceptual question and may even surprise you, but when we talk about Minimum Viable Product we can also be talking about a service or a marketing action.It is also common to refer in these terms to a strategy or a web development. Trying to get an eCommerce developed ad hoc with all the functionalities that are expected to be necessary is almost impossible. It is therefore advisable to opt for a modular system such as Oleoshop, which allows us to have a solid, stable and well-designed version from the very beginning.As with the product itself, the website will scale and adapt to the needs of the business. It is shaped to fit what customers want and not the other way around.