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Minimum Viable Product (MVP)
Definition - What does Minimum Viable Product (MVP) mean?
A minimum viable product (MVP) is a development technique in which 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.
This concept has been popularized by Eric Ries, a consultant and writer on startups.
Techopedia explains Minimum Viable Product (MVP)
A minimum viable product (MVP) is the the most pared down version of a product that can still be released. An MVP has three key characteristics:
- It has enough value that people are willing to use it or buy it initially.
- It demonstrates enough future benefit to retain early adopters.
- It provides a feedback loop to guide future development.
The catch to this development technique is that it assumes that early adopters can see the vision or promise of the final product and provide the valuable feedback needed to guide developers forward.
This suggests that technically orientated products used by technical users may be most appropriate for this type of development technique.
