This stage of the development cycle is used to test the product on a smaller market and improve the product based on real user experience with it. Software companies often offer free versions of the software to its first beta testers in exchange for feedback. Also getting your product into the hands of early adopters could be very beneficial for your later marketing efforts. This segment of the market is often very influential and other users will follow their lead.
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Growing up I was a huge fan of Disney and all of their stories. I’m not exaggerating when I say that I watched the cartoon Robin Hood with the fox at least twice a day in my childhood. In fact, I used one of the songs from that movie in my wedding! I can recall being in awe of the Little Mermaid, the Lion King, and Aladdin when I saw them in the theatre for the first time. Needless to say, like most of us, I have a very special and nostalgic place in my heart for Walt Disney and one of their stories.