Minimum Viable Product Definition
CMAT 2022 · Innovation & Entrepreneurship · Easy · Startup Terminology
Founders translate company ideas into business model hypotheses, test assumptions about customers' needs, and then create a ______________ to try out their proposed solution on customers.
- A.
Beta version
- B.
Brand
- C.
Minimum viable product
- D.
Service
Answer
C
Explanation
A Minimum Viable Product (MVP) is the version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least effort.
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