Question
The six steps of the Lean Product Process are: 1) identify target customers, 2) select underserved needs, 3) define Product Value Proposition, 4) shortlist Minimum Viable Product feature set, 5) build a prototype, and 6) test with customers.
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Most products fail due to poor product-market fit. Product-market fit can be achieved when a product meets customer needs in better ways than existing alternatives, and as a result creates significant customer value. The Lean Product Process is an actionable framework to achieve this product-market fit. It breaks the process down into six steps: identify target customers, select underserved needs, define Product Value Proposition, shortlist Minimum Viable Product feature set, build a prototype, and test with customers. This process minimizes rework as it facilitates rigorous step-by-step product thinking. To achieve product-market fit, keep the problem space separate from the solution space. The problem space identifies essential customer needs while the solution space focuses on product design. Multiple solutions can solve each problem in the product space. The first step in the Lean Product process is to identify the customer segment. Target customers are defined with key attributes...
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