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The Code and Fix Model

Code and Fix (often known as Cowboy coding) is considered the simplest product development process and is the default method for prototyping software-oriented technology solutions.

 It is a cyclic process consisting of two major steps: Coding and Fixing. In this model, there typically isn’t an extensive product planning (sometimes a very simplistic one), concrete strategy, or well-defined design thinking.

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Customer Acquisition Cost (CAC) is the cost of getting a customer to buy a product or service.

How to calculate the metric:

  • Take the full scope of acquisition expenses and divide it y the number of customers gained.

Customer Lifetime Value (CLV) is the average revenue you can expect from a customer during the time they stay with you.

How to calculate the metric: 

  1. Figure out how long, on average, a customer stays on your product using customer relationship management (CRM) tools.
  2. Measure how much average revenue a customer brings in every month.
  3. Multiply these two numbers to give you the CLV.

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Using The Bounce Rate Test For Measuring Your Product/Market Fit

The bounce rate is the percentage of users who visit a page on your product, then leave it before taking any action, such as registration or a demo.

The bounce rate is calculated by counting the number of visits without further action and dividing that by the total number of visits.

  • A high bounce rate means that the product is not doing a good enough job of attracting visitors.
  • A low bounce rate shows that the visitor’s expectations are met and that the product gives a good first impression to its visitors.

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