MVP
Definition
A Minimum Viable Product (MVP) is the simplest version of a new product that can be released to early customers.
A Minimum Viable Product represents the core functionality of a proposed offering, designed to gather feedback from real users. It contains just enough features to be usable and valuable, allowing developers to test hypotheses about the market and customer needs. The goal is to learn and iterate based on this initial user input, rather than building a full-featured product from the outset.
For instance, a software company might release an MVP of a new task management application that only allows users to create, edit, and mark tasks as complete.
This term is commonly used in the fields of product development, entrepreneurship, and software engineering, particularly within agile methodologies.