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Directions: Read the following information carefully and answer the given question.
A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.
MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.
The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.
The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.
Q. Which of the following statements is true in context of the passage?
  • a)
    Users already have considerable knowledge about the upcoming minimum viable product.
  • b)
    First buyers have significant expectations from the minimum viable product itself.
  • c)
    Actual usage patterns are much more reliable than traditional surveys to create a good product.
  • d)
    MVP products help to generate interest towards even generally disliked products.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Directions: Read the following information carefully and answer the g...
(1) - Nothing is inferable with respect to this. In fact, it is likely that consumers have less knowledge and are willing to provide feedback only after using the product.
(2) - No 'significant' expectations are present because of the 'bare' nature of MVP.
(3) - This is true as mentioned in 'Observing users as they...questionnaires or forecasts' in the last paragraph.
(4) - This is incorrect as inferable from 'not waste any resources...needs, or likes' in the third paragraph.
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Community Answer
Directions: Read the following information carefully and answer the g...
Actual usage patterns are much more reliable than traditional surveys to create a good product

Using actual usage patterns to gather feedback is more reliable than traditional surveys for creating a successful product. Here's why:

- Validation through User Behavior: Observing users as they interact with the product provides real-time, authentic feedback on what works and what doesn't. This direct observation allows for more accurate insights into user preferences and pain points.

- Insightful Feedback: Users can provide valuable feedback based on their actual experience with the product, highlighting areas for improvement or features they find most useful. This feedback is often more detailed and actionable than responses from traditional surveys.

- Iterative Development: By continuously monitoring user behavior and feedback, developers can make incremental improvements to the product over time. This iterative approach ensures that the final product meets user expectations and addresses their needs effectively.

- Enhanced User Experience: Incorporating feedback from actual usage patterns helps in creating a product that aligns more closely with user expectations, leading to a better overall user experience. This, in turn, can result in higher user satisfaction and increased product adoption.

In summary, relying on actual usage patterns for feedback during product development is a more effective strategy than traditional surveys. It allows developers to create a product that resonates with users, addresses their needs, and ultimately leads to a successful product launch.
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Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer?
Question Description
Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer?.
Solutions for Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.
Here you can find the meaning of Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Directions: Read the following information carefully and answer the given question.A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This technique helps them in making the final product much better. With the help of MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.MVP has three distinct features. One is that it will have enough features for consumers to purchase the product (it becomes easier for the company to market it), the other is that it will have some sort of a feedback mechanism wherein users would be able to send their feedback about the product. And, lastly it should have enough future benefits for consumers who choose to adopt the product first (Google gave free upgrade of its OS to all Nexus users). The idea is to get feedback from the consumers which will in turn help in making the desired changes in the final product. MVP actually tests the usage scenario that is much more helpful for the company to make changes to the final product.The developing team of an MVP will not waste any time on anything beyond the bare minimum, and build every other feature over time as they assess the customers' wishes and preferences as they start using the product. The product may change even dramatically or even get abandoned as feedback from users may significantly diverge from the original project. However, the developing teams will not waste any resources (efforts, time, money, advertising) on a product that no one really wants, needs, or likes. The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.The whole focus is learning during product development by collecting information from customers that are validated already. Observing users as they utilize the product is much more reliable than trying to validate marketing hypotheses with questionnaires or forecasts. A common pitfall is to release a bare-bone product that is so much below the users' expectations that is not viable at all. In general, the MVP technique is particularly viable for technically-oriented products used by technical users who are often keen on providing practical insights on how to improve or update the product. The concept of MVP has, in fact, been widely adopted by many verticals in the informatics industry. For example, many video games today spend many months (sometimes years) as early access products and are slowly developed as the community grows. Some popular franchises, such as Farmville, fully leveraged the concept of MVP by implementing new gameplay features over time while progressively improving overall user experience.Q. Which of the following statements is true in context of the passage?a)Users already have considerable knowledge about the upcoming minimum viable product.b)First buyers have significant expectations from the minimum viable product itself.c)Actual usage patterns are much more reliable than traditional surveys to create a good product.d)MVP products help to generate interest towards even generally disliked products.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CAT tests.
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