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A company has started developing a new product. During execution, the project team notices that another competitor has launched a product with very similar functionalities and a cheaper market price.What should have been done differently to avoid this scenario?

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A minimum viable product (MVP) should have been released to get feedback from the market.

The Kanban method should have been utilized to optimize the work in progress (WIP).

An iterative life cycle approach should have been adopted.

More backlog refinement meetings should have been scheduled

A minimum viable product (MVP) should have been released to get feedback from the market.

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