Glossary

Agile Development is a methodology in product and software development that emphasizes iterative progress, collaboration, and adaptability. It prioritizes delivering small, functional portions of a product (often referred to as "increments" or "iterations") in short time frames, allowing for frequent feedback and the ability to respond to changing requirements swiftly. Rooted in the Agile Manifesto, this approach champions the importance of people and interactions, working solutions, customer collaboration, and flexibility to change over traditional rigid planning and documentation.

An MVP, or Minimum Viable Product, is a product version with the minimum set of features required to satisfy early adopters and validate a product concept in the market. The primary goal of an MVP is to test hypotheses about a product's value proposition, target audience, and functionality with the least effort, enabling developers and businesses to gather feedback, iterate, and refine their product based on real-world insights.

The Product Life Cycle (PLC) is a fundamental concept in marketing that describes the stages a product goes through from its introduction into the market to its eventual decline and withdrawal. The PLC is used by businesses to manage a product's strategy, predict its revenue, and tailor marketing efforts accordingly. Each stage in the PLC has its distinct characteristics, challenges, and opportunities.