According to ITIL 4, the digital product lifecycle is a model that describes how digital products are created, delivered, and operated. The digital product lifecycle starts with the exploration of market opportunities, where the service provider identifies the needs and expectations of potential customers and stakeholders, and evaluates the feasibility and viability of creating a digital product that can meet those needs and expectations.
The exploration phase involves activities such as market research, customer segmentation, value proposition design, prototyping, and testing. The exploration phase aims to validate the problem-solution fit and the product-market fit of the digital product idea, and to generate feedback and insights that can inform the subsequent phases of the digital product lifecycle. References:
* Digital product lifecycle: more speed, less chaos | Axelos
* ITIL 4 High-velocity IT (HVIT) - Your companion to the ITIL 4 Managing Professional HVIT certification