Minimum Viable Product (MVP)
MVP is the first version of the product which is usable for customers. It is related to jtbd theory and helps customer job get done but may not be optimal or best a customer may expect.
Earlier the product managers get the feedback better they can shape the product at any time in order to keep the opportunity costs as low as possible yet increasing the value over time.
MVP concept increases the risk of imitation by competitors, and negative feedback can affect company reputation. Both can be mitigated by choosing right set of early adopters and release often.
MyProductHub lets you gather feedback from your customers. The idea management module let you describe and prioritize ideas in your preferred way, whether you want to make an MVP to MLP. Also, our testimonial module let you gather testimonials from your customers and see whether you are crossing the line where your product is now adored by your customers.