product development

2. digital technology is used  also called
inbound marketing, as the social values
is added to the products to reach out to
customers emotionally
known as
conversational
marketing as
conversations with
online users are used
for converting them
into paying customers
 target based on
costumer’s interest
and buying pattern 
a feedback oriented
approach to drive
customer loyalty and
grow customer base.

4. When you have an idea for a new product make
sure to do the process of checking if a product
meets customer needs and is likely to be
profitable (product validation)
Building a Minimum Viable Product (MVP) to
determine which of your product’s features are of
value to customers, so you can serve them as
efficiently and profitably as possible
Taking feedback that will help for future product
development (iterated and improved the product)

6. Four basic pillars:
validate the problem that the product will
attempt to solve
examine the market for the product
prototype the product itself
assess buyer willingness.
Sumber: Product Validation: What it is and How to Do it - Ventrify P

7. Problem
Discuss with people  find your first 5-10 people who are
enthused by how the product idea could help them. From
there, interviewing can be done to dive deeply into the
relevant problem.
Observe the issue in real-time  you might sit in on a
business meeting where workers are struggling with
technology limitations that your software idea could solve.
Many inventions came out of simple observation.
Lupe Hernandez, a student nurse, is one such story of this.
While on shift, she saw the need for hand sanitizer in places
where there was limited soap and water access. That
observation would eventually lead to the invention of hand
sanitizer.

8. Market
Conduct market research to see what the current state
is by getting information from your potential
customers.
Conduct market research in a variety of ways. Many
businesses do it in-house but you can also hire a third-
party company.
Here are some of the ways to gather market research:
Surveys
Product testing
Focus Groups

9. Product
It’s prototype time  Prototyping is vital in making sure your
product works—and does what you’re promising it does; select
a reliable product design firm
For your very first prototype, think of something you could put
together quickly. As you iterate on your prototypes and
increase the complexity, you will need to keep testing them.

10. Buyer willingness
Assess if your potential customers are actually going to buy your
product  identify the Willingness To Pay (WTP), which is the
maximum price your customers would pay for the product.
Conduct a research:
Survey and Focus Groups: Asking customers directly what they would
pay.
Competitor Analysis: Assess competitor pricing to help guide your own.
Conjoint Analysis: A specialized type of survey where customers rank
each feature with numerical value.
Experiments & Testing: Adjust your pricing and see how sales are
impacted.

11. sumber:

13. Step 1: Start with Market Research
Before a business initiates an idea and embarks upon
an MVP Development process, it should ensure that it
fulfills the target users’ needs.
Any business would gain by conducting surveys. The
more information a business has, the higher the
chances of success.
Keep an eye on what the competitors offer and how the
product idea can stand out.

15. Step 2: Ideate on Value Addition
What value does the new product offer its users? How
can it benefit them? Why would they buy the product?
It should also be clear what the essential estimations
are for the product. As MVP implies, the product has to
introduce value to the people in its most basic state 
Begin by outlining the users and build the MVP based
on their needs.

16. Step 3: Map Out User Flow
In the context of developing a Minimum Viable Product
(MVP), a "user flow" refers to the series of steps or interactions
that a user takes within your MVP to accomplish a specific
task or goal. User flows are essentially visual representations
or diagrams that map out the user's journey through your
product, highlighting the key actions, decision points, and
interactions they encounter along the way.
Remember that the goal of an MVP is to deliver a product with
just enough features to satisfy early users and gather feedback
for future development. User flows play a crucial role in
ensuring that the MVP meets user needs and provides a
smooth and intuitive experience.

17. User flows are valuable in the development of an MVP for several
reasons:
Clarity: They provide a clear and visual representation of how users
will navigate and interact with your product, helping your development
team understand the user experience.
User-Centric: User flows focus on the user's perspective, ensuring that
the MVP is designed with the user's needs and goals in mind.
Efficiency: By identifying potential roadblocks or areas where users
might get stuck, you can streamline the user experience and make it
more efficient.
Testing: User flows can be used as a basis for usability testing, allowing
you to gather feedback from real users and make improvements.
Alignment: User flows help ensure that your development team is
aligned with the intended user journey and that everyone has a shared
understanding of the product's functionality.

18. Creating user flows typically involves the following steps:
Define User Goals: Clearly articulate the goals users are trying to achieve within
your MVP. What problem are they trying to solve, and what tasks do they need to
complete?
Identify User Personas: Understand the different types of users (personas) who
will interact with your MVP. Each persona may have different user flows.
Map User Actions: Outline the specific actions that users will take, step by step, to
achieve their goals. These actions could include clicking buttons, entering
information, making choices, etc.
Visualize the Flow: Create a visual representation of the user flow using diagrams
or flowchart tools. Use symbols and arrows to show the sequence of actions and
decisions.
Analyze and Refine: Review the user flow to identify any bottlenecks, confusing
steps, or potential issues. Make adjustments to improve the user experience.
Testing and Iteration: Once the MVP is developed, use the user flow as a reference
for usability testing. Gather feedback and iterate on the design based on user input.

19. Step 4: Prioritize MVP Features
Ask questions such as: What do the users want? Is this
product offering them something beneficial?
Categorize all the remaining MVP features based on
high priority, medium priority, and low priority.
Another essential step is to arrange these features in
the product backlog (priority-wise).

20. Step 5: Launch MVP
Once a business has decided upon the main features
and learned about the market needs, it can create the
MVP  Remember that an MVP is not lower quality
than a final product but still needs to fulfill the
customer’s needs: it must be easy to use, engaging, and
suitable for the users.

21. Step 6: Exercise Build, Measure, Learn (BML)
Define the scope of work  move the product to the
development stage  test the product.
The first testing stage is carried out by Quality
Assurance engineers who work to improve the product’s
quality (even if the product is not yet released).
After launching the MVP, go over everything again. The
company must get feedback from its clients on the
release. They can determine the acceptance and
competitiveness of their goods in the market based on
their comments.