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Glossary>MVP

MVP - Everything You Need to Know!

MVP stands for “minimum viable product.” It is a product that has just enough features to be used by early adopters and is typically used to validate a business concept or new technology. The MVP is an essential part of the Lean Startup method and the Build-Measure-Learn feedback loop developed by Eric Ries. The MVP is usually a stripped-down version of the final product, containing only essential features. The goal is to quickly receive feedback from users so that the product can be improved before hitting the market. MVPs are often created using agile development methods, where rapid iterations and constant user feedback are prioritized. This allows companies to respond quickly to user feedback and ensure that the end product is as successful as possible.

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FAQs

Growth hacking is a relatively new marketing method that uses creativity, data analysis, and flexible thinking to sustainably increase the growth of a company through specific tactics (“hacks”)
Lean management is a new way of thinking that aims to optimize the entire process of the value chain and avoid unnecessary “wastage”.
Growth hacking is often compared to performance marketing. Therefore, we have written a special article which shows the differences between the two. Click here to read the article!
No! While growth hacking was originally used to promote start-ups, this methodology can now be useful not only for startups but also for corporations or SMEs. In most cases, the diverse ways of using growth hacking are very beneficial.
The way a growth hacker works is always geared towards growth, and this person constantly asks themselves the question: “How can maximum growth be achieved?”. The growth hacker has the mindset to work across departments and make the right decisions. At best, a growth hacker should have a T-shaped profile (the advantages of specialist and generalist combined), which means having a general knowledge in many areas and specializing in at least one or more categories.
Lean & Sharp offers a wide range of different services, including personalized workshops. Contact us at marketing@lean-sharp.ch for further information!
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