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Given below are two statements:
Statement I: Lean start-up methodology prioritises extensive market research before any product.
Statement II: Lean start-up methodology focuses on creating a Minimal Viable Product (MVP) to test hypotheses.
In light of the above statements, choose the correct answer from the options given below :
The Lean Startup method is a strategy in product development that relies on rapid iteration, validated learning, and customer feedback to determine if a business model is viable and to reduce risk. Statement I is clearly false as it goes against rapid iteration. Statement II is true. The core of the lean startup method is the "Build-Measure-Learn" feedback loop, where a company builds a minimum viable product (MVP), measures its performance with real customers, and learns from the results to decide whether to improve or "pivot" the product or business plan. Therefore, the correct answer is option D.
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