Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between minimum viable product (MVP) development and time-to-market has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Lagos State where operating conditions differ markedly from more developed markets.

Lagos State presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

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 time-to-market within Lagos State 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 time-to-market — 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 time-to-market in Lagos State.
2. To assess the extent to which minimum viable product (MVP) development influences time-to-market within the study area.
3. To identify the challenges associated with minimum viable product (MVP) development in relation to time-to-market.
4. To recommend strategies for optimizing minimum viable product (MVP) development in order to improve time-to-market.

1.4 Research Questions

1. What is the effect of minimum viable product (MVP) development on time-to-market in Lagos State?
2. To what extent does minimum viable product (MVP) development influence time-to-market within the study area?
3. What challenges are associated with minimum viable product (MVP) development in relation to time-to-market?
4. What strategies can be adopted to optimize minimum viable product (MVP) development in order to improve time-to-market?

1.5 Significance of the Study

Beyond its academic contribution to the field of product management, this study has practical value for management teams within Lagos State seeking to understand how minimum viable product (MVP) development translates into measurable outcomes around time-to-market. It is equally useful to students and future researchers looking for a localized empirical reference on this relationship.

1.6 Scope of the Study

In terms of scope, this study confines itself to Lagos State, focusing specifically on how minimum viable product (MVP) development relates to time-to-market within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.