InStrat

Minimal Viable Product Services

Minimal Viable Product is a test version of a product or a service with a minimal set of functions (sometimes just one function) that carries a value for a final consumer. In order to be successful with minimal risks and costs, even if 92% of active startups are closed, each project should be started with a minimal viable product. MVP are created for testing of hypotheses and verifying the viability of a conceived product, how valuable and popular it is supposed to be on the market. The results of minimal viable product testing and feedback from target audiences help to understand if a project is worth developing further, what changes should be made in strategy and what should remain in its original form.
Enhance User Experience with State of the Minimal Viable Product

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Searching for and analysis of competitors

Even if you made up a new product, there are companies working in that sphere already. Their experience, advantages and disadvantages should be reviewed carefully (what percentage they represent on the market, how the customers are being attracted and what makes them unique). With the help of our MVP service we will be able to provide a more complete analysis of competitors.

Identification of target audiences

To focus on the needs of a large audience when planning MVP is a wrongheaded strategy. Narrowing of target audiences allows to provide more accurate guidance for future product. That requires formulating a profile of an ideal customer, a person who will purchase your solution without hesitation and be satisfied with its options. As a matter of fact, such a profile includes full information.

Identification of the basic functions

It does not matter how large-scale your planned project is, that requires to list and to prioritize its functions with the help of MVP. The introduction of additional options in the prototype will only confuse customers and reduce the credibility of the results of the business idea research. They can be added after MVP deployment, primary feedback's collection and

MVP start

From the moment of the start, it is necessary to collect and analyse feedbacks, beginning with statistics and ending with the data of customers behaviour and reviews. The data collected with the help of MVP will allow to understand if the project is perspective, assist to generate new ideas and devise the product development strategy that is not based on assumptions but on facts.

What You Get With InStrat Minimal Viable Product

  • Reconfirm the validity of the idea and test the hypothesis about the product with the help of the real data.
  • Identify trends that can be used in the development of full version of the product.
  • Reduce the risk of great financial losses in case of failed product launch.
  • Reduce total cost of the development on account of prioritization of important and identification of unclaimed functions.
  • Speed up finding errors and internal product testing.
  • Collect user database before a full-scale run.
  • Find out the market niche and attract investors before the competition.
  • Form the basis for other products.

Make sure you incorporate this amazing service into your package to get affordable pricing and great quality work. InStrat is just a call away!