Chapter One — 1.1 Background to the Study

In recent years, Minimum Viable Product (MVP) Development has emerged as a critical factor shaping customer satisfaction with digital products across organizations operating in and around Selected Commercial Banks in Nigeria. As institutions grapple with the pressures of globalization, regulatory reform, and shifting stakeholder expectations, understanding how minimum viable product (MVP) development relates to customer satisfaction with digital products has become an important area of both scholarly and practical concern.

Within the context of Selected Commercial Banks in Nigeria, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of minimum viable product (MVP) development on customer satisfaction with digital products, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

While minimum viable product (MVP) development is widely discussed in policy and industry circles, empirical evidence on its actual effect on customer satisfaction with digital products within Selected Commercial Banks in Nigeria remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to minimum viable product (MVP) development are helping or hindering customer satisfaction with digital products — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Minimum Viable Product (MVP) Development on customer satisfaction with digital products in Selected Commercial Banks in Nigeria.
2. To assess the extent to which minimum viable product (MVP) development influences customer satisfaction with digital products within the study area.
3. To identify the challenges associated with minimum viable product (MVP) development in relation to customer satisfaction with digital products.
4. To recommend strategies for optimizing minimum viable product (MVP) development in order to improve customer satisfaction with digital products.

1.4 Research Questions

1. What is the effect of minimum viable product (MVP) development on customer satisfaction with digital products in Selected Commercial Banks in Nigeria?
2. To what extent does minimum viable product (MVP) development influence customer satisfaction with digital products within the study area?
3. What challenges are associated with minimum viable product (MVP) development in relation to customer satisfaction with digital products?
4. What strategies can be adopted to optimize minimum viable product (MVP) development in order to improve customer satisfaction with digital products?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around customer satisfaction with digital products. For managers and practitioners within Selected Commercial Banks in Nigeria, the study provides practical insight into how minimum viable product (MVP) development can be better managed. Finally, it contributes to the academic literature on product management by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

In terms of scope, this PhD study confines itself to Selected Commercial Banks in Nigeria, focusing specifically on how minimum viable product (MVP) development relates to customer satisfaction with digital products within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.