Thank you for sharing!

Your article was successfully shared with the contacts you provided.
"I'm a light bulb" Learn from your marketing experiments so that you can hone and refine how you prospect. (Image: Shutterstock)

Technology companies and start-ups in general often launch what is called a “minimum viable product” or MVP. An MVP is designed to be the most basic version possible of the end-product they envision for the market. The idea is to get something built quickly so that you can begin testing the market with it as soon as you can.

The goal of the MVP is to learn as much about what your target audience wants before you bet three years of development and all of your funding on a product. For example, Groupon, the daily deal website that took the internet by storm a few years ago, actually began as a daily flyer distributed by hand and grew into a web application when the founders saw what — and why — their audience reacted to.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Dig Deeper


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.