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Agile Product Development
A method of product development that emphasizes flexibility, speed, and customer feedback, allowing FMCG companies to quickly respond to market changes and consumer demands.
Implications
Applied in product development where rapid iteration, flexibility, and customer feedback are crucial. Common in software and tech industries.
Example
Example: Spotify uses agile product development to frequently update its app based on user feedback, improving user experience and engagement.
Related Terms
Different from traditional product development, which often follows a linear, waterfall approach with less flexibility and slower response to feedback.
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