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This stage is used to determine the viability of your product and confirm when it should go to market. Depending on its complexity, new product development can last for years, accruing research, prototyping, and production costs without bringing in revenue. Then we ship it to customers way before it’s ready.
They have a different view of normal and how to use your products and services,” said Guive Balooch, global VP of L’Oreal’s technology incubator. We don’t want to over-engineer something that ultimately provides no value,” said Ann Yauger, AVP of product management. “We
The company is past the MVP (minimumviableproduct) and is showing initial signs of success. This funding generally gives the company a couple of years to further develop its products, team, and begin to tackle its GTM (go-to-market) strategy. It’s no longer just an idea.
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