The Lean Start-Up uses a build-measure-learn feedback loop. As soon as the organization understands the customer need and market suitability, a minimum viable product is developed. Product, at this stage, itself doesn’t necessarily solve all the customer needs. However it provides an avenue for the business to take feedback and enhance upon the product.
Basically, this approach gauges consumer interest level in the product at every iteration and pivot accordingly. This approach is an improvement on existing manufacturing processes with a special focus on ideas where the end product is not clear to the business or the customers. Both, the business and the customer, learn significantly from the minimum viable product and the following generations.
Example – Companies like Dunzo started operations with limited options and limited locations. Before expanding, they understood the customer interest and made one move before unleashing a plethora of features. Small incremental growth contributed significantly to their exponential growth in Indian Market.