What is an MVP (Minimum Viable Product)?
A Minimum Viable Product (MVP) is a development strategy used by businesses to introduce a new product to the market with only the essential features necessary to meet the needs of early adopters and gather valuable user feedback. By launching an MVP, companies can validate their assumptions, understand customer preferences, and identify areas for improvement without investing significant resources in a fully developed product.
The MVP approach enables businesses to test their product’s viability in the market, iterate quickly based on user insights, and make informed decisions about future development. This methodology is particularly beneficial for startups and innovative projects, as it reduces the risk of failure and allows for rapid adaptation to changing market demands. By focusing on delivering core value to users, MVPs lay the foundation for successful product evolution and growth.