MVP

Minimum Viable Product

A product development strategy where a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product’s initial users.

In essence, an MVP is the most basic version of a product that still delivers value to customers and provides feedback to the company. This strategy is often used to quickly get a product to market, learn from users, and iteratively improve or pivot the product based on that feedback.

This concept is a key component of agile development and lean startup methodologies. It’s intended to ensure that companies don’t invest excessive time and resources into building a product before they know it’s something users want and will find value in.

• Abbreviation: MVP