In certain industries, it is important to test a potential business model in the market to see how customers react before the final launch. This saves organisations from spending time and resources on a failed model while also helping to figure out where the opportunities lay. For this reason, the concept of a Minimum Viable Product was invented where an easily designed prototype could be tested to figure out how the idea would seem in actuality.
A Minimum Viable Product (MVP) is a product with enough features built in the initial phases of development to draw in clients and approve the idea for a project. An organization may decide to build an MVP to test a strategy with prospective long-term clients prior to committing to a long-term financial plan. In a business that provides programming and app development services, an MVP can help developers to get relevant inputs from clients and brainstorm on those inputs, so as to improve the end result of the product. Following its nomenclature, an MVP is essentially the first prototype that is built in a financially feasible way, providing just the core features required for testing. Altogether for a product to be termed viable, it should permit clients to finish the whole assignment or task that it was intended for, all while providing a top-notch client experience.
In situations where customers have an ambiguous idea regarding the outcome of the venture, developers may offer MVPs, allowing both the parties to contribute and rally ideas to get a clearer picture as to their requirements. In situations where it is impractical to put up massive funds or in case one would just like to test out the core features of the app, an MVP is the way to go as it simply has the fundamental features required for a fast test and dispatch. It should not just have the core features, but also convey the core idea of the application, with the minimum required features. In view of the data acquired from this investigation, the team proceeds to amend the idea, or discontinue the project as per the initial conversation. An MVP also helps in determining the marketability of the product and plays a huge role in product development.
Another important reason to include the MVP phase as the first, in some case related projects, is to get a fair idea of the legal implications that could arise from the end result of the product. Some apps, especially those built for domains like healthcare, education, government use, etc., may have to adhere to certain statutory requirements which arise due to the sanctions that have been set for reasons like public interest, protection of personal data, national security, possible problems relating to the sovereignty and national integrity of a country. In such cases, MVPs are the way to go, as each feature can be tested, checked and improved on, in order to comply with such statutory requirements.
Agile Methodology is a popular technique employed in the industry of software development. It assumes partitioning the undertaking into smaller parts using iterations which complies with an MVP’s primary goal of receiving feedback before proceeding to the next phase of development. The consequence of every iteration is a working piece of programming that permits gathering of input, breaking it down and pushing ahead with a clearer idea, hence promoting a more efficient development process. Using Agile methodology for building MVPs makes it easier for an app development organisation to work on their client partner’s demands and requirements.
We, at GeekyAnts, believe in delivering the best services and experience possible to our clients. We strongly feel that collaboration and working closely with our partners and being receptive to their feedback is what has helped us succeed in this endeavour. On multiple occasions, we have built MVPs, constantly working with our partner’s ideas, to build products that are truly unique and at the top of their field. Read on to understand more about this:
It's been a while since app development companies have started using MVPs in order to ascertain the marketability and further improve the product. We, as an organisation have strived to help our partners reach their business goals with our digital solutions.
I hope this article has helped you understand MVPs much better. Hope you had a nice read!