Glossary
Minimum Viable Product (MVP)
A Minimum Viable Product (MVP) is a term most often used in product development in business. It refers to the least a particular product needs to do in order to be usable by its intended user.
The purpose of the MVP is to create a usable product and get feedback on it immediately, before additional features are added. This can reduce development time by identifying flaws in a product early in the development process.
This can also relate to web-based applications, which often have non-core features that are not needed for the product to work well for a majority of its users.
Related Terms
Glossary
Agile Development
Agile Development - sometimes simply called Agile - is a project management style that emphasizes quick, iterative changes to a project to maintain flexibility in the project’s parameters and deliverables.
This is often juxtaposed with Waterfall Development, wherein an entire project is completed in stages before any launch happens. Testing and iterating in Agile often happens during development, with the initial launch happening much earlier in the process to get quicker feedback.
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Glossary
Engagement Rate
A measurement of how involved your audience is, either holistically or for an individual ad or ad campaign. Depending on the marketing channel and ad being analyzed, a variety of metrics can be considered to determine engagement rate. It is used most frequently to analyze social media marketing.
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Glossary
Total Addressable Market
Refers to the entirety of a company’s potential customer base. The total addressable market might be used to refer to the broadest possible marketing campaign that would still reach a relevant audience.
Often, this market is used not to create marketing campaigns, but to break into sub-groups, from which more targeted marketing efforts can be made to more specialized but still large groups of potential customers.
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