Week 5 Discussion – ROI and Testing
After reviewing this week’s course material and watching the Jon Steinberg video, respond to the following in writing (1–2 paragraphs) or record a video (less than three minutes). Make sure to apply your post to your current or future business:
Post a Response
Please Respond to the following:
- Why is it important to examine return on investment (ROI) at the prototype phase to maximize the customer value at the sub-feature level or the minimal viable product (MVP).
- What types of tests would you utilize to validate your MVP and ROI projection, and what can you find out from them?
See also: (Solution) BUS553 Week 6 Discussion – UX: User Experience
Solution – ROI and Testing
Maximizing ROI and Customer Value in the Prototype Phase
It is important to examine return on investment (ROI) at the prototype phase because it helps product teams prioritize features and maximize customer value while minimizing risk and resource waste. By focusing on the highest ROI features first, teams can deliver value to customers quickly and gather feedback to inform further iterations. This approach ensures that the team doesn’t invest heavily in features that may not resonate with customers or contribute significantly to the overall value proposition.
Using ROI to Guide MVP Development
Calculating ROI involves considering both the estimated customer value a feature will create and the development effort required to implement it. This process helps teams make informed decisions about which features will provide the most value for the least effort, ensuring efficient resource allocation and a focused MVP….Please click on the Icon below to purchase the FULL ANSWER at only $10 $5
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