Software Catalyst
Market Penetration MVPs
35%
On this page:
Overview
- High risk of failure due to untested market assumptions
- Wasted resources on developing features that are not in demand
- Delayed market entry and loss of competitive advantage
Key Benefits
Our Model
We begin with an in-depth consultation to understand your business, the new market segment you're targeting, and your product goals.
Our team conducts thorough market analysis, identifying customer pain points, trends, and competitive landscapes in the target segment.
Together, we prioritize the key features that will make up the core of your MVP, ensuring alignment with customer needs.
Our tech team builds a streamlined version of your product, focusing on the essential features required to test the market effectively.
We assist with launching the MVP to your target market segment, gathering real-time data and customer feedback.
Based on market feedback, we refine and iterate the product, allowing you to scale up the MVP for broader market penetration.
Myths
Established companies like Dropbox and Airbnb also used MVPs to test new markets and features. (Forbes)
An MVP is a functional product, unlike a prototype, which is typically non-functional or incomplete. (Harvard Business Review)
MVPs are designed for learning about the market, not just launching quickly. (Lean Startup)
User research is crucial for feature prioritization in an MVP. (UX Collective)
Without proper marketing, even the best MVP will fail to gather valuable feedback. (Product Coalition)
MVP success only validates initial assumptions; it doesn’t guarantee long-term product success. (Startup Genome)
The purpose of an MVP is to test, not to be perfect. (TechCrunch)
MVPs focus on testing key features, not being a cheaper version. (CB Insights)
Many successful companies iterate through several MVPs before settling on a final version. (Fast Company)
MVPs are meant to evolve based on customer feedback. (Forbes)
FAQs
Typically, an MVP should be tested for 3 to 6 months to gather sufficient feedback.
The investment varies, but MVPs generally cost about 20-30% of a full-scale product.
Not necessarily, but having a specialized team ensures faster turnaround and better focus.
No, marketing is essential to attract users and gather feedback.
An MVP includes only core features, while a full product is feature-rich and polished.
Prioritize features based on customer pain points and market demand.
Yes, MVPs are designed to be scalable, adapting as the product grows.
Yes, MVPs are used across various industries, from tech to healthcare.
Feedback typically starts rolling in within the first few weeks of launch.
Based on feedback, the next step is either iterating the MVP or scaling it to a full product.