Hello! I will clarify how I did and learned the MVP during the course. MVP is is the product with the highest return on investment versus risk. With the MVP we try to examine our product/prototype in an early stage, before developing it, to be sure that we are going to the right direction, and that the consumers actually like the product. Steve Blank talks about this theory and how you can prevent spending loads of money on something that won´t be a success.
After studying the personas, created tribes, and trying to understand the groups, we were supposed to come up with MVP´s before the camp.We based our MVP on satisfying the targeted consumer group, the trendy young adults, we looked at the results we had from previous research and chose the important factors, needs and wants and tried to figure out MVP´s to take care of these things. We came up with a few ideas, e.g. an outlet event on the marketplace outside of Wiklund. To be able to acknowledge if the MVP was good to go, i.e. the product has high return of investment instead of risk, we asked people if they liked the product, from my audience I got 100% likes, but we did´t move on with the idea because the coaches said `no events´ before we even had started to develop the idea. But basically how we learned to use the MVP, was by prototyping ideas, asking people if they liked the idea or not, and learning if it would be worth developing the concept. We got green light for our MVP´s but they didn´t apply in the course.
After studying the personas, created tribes, and trying to understand the groups, we were supposed to come up with MVP´s before the camp.We based our MVP on satisfying the targeted consumer group, the trendy young adults, we looked at the results we had from previous research and chose the important factors, needs and wants and tried to figure out MVP´s to take care of these things. We came up with a few ideas, e.g. an outlet event on the marketplace outside of Wiklund. To be able to acknowledge if the MVP was good to go, i.e. the product has high return of investment instead of risk, we asked people if they liked the product, from my audience I got 100% likes, but we did´t move on with the idea because the coaches said `no events´ before we even had started to develop the idea. But basically how we learned to use the MVP, was by prototyping ideas, asking people if they liked the idea or not, and learning if it would be worth developing the concept. We got green light for our MVP´s but they didn´t apply in the course.
/Tomas
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