What is Minimum Viable Product?
A Minimum Viable Product (MVP) is the most basic version of a product that includes only the essential features needed to solve a specific problem or meet a core user need. The MVP is used to test and validate a concept before investing in full-scale development.
Key Aspects of an MVP:
- Core Features: Focuses on the fundamental functionalities that address the main problem or need of the target users.
- Early Testing: Released early to gather feedback from real users and validate assumptions about the product’s value and feasibility.
- Iterative Development: Based on user feedback, the product is refined and expanded, adding more features and improvements in subsequent iterations.
For example, a startup might launch an MVP of a new task management app with basic features like task creation and due dates. Feedback from early users can then guide the development of additional features and refinements.