Minimum Viable Product (MVP)

A Minimum Viable Product (MVP) is a development technique in which a new product or website is launched with basic but essential features. The primary purpose of an MVP is to validate a product idea early in the product development lifecycle by collecting user feedback. This strategy allows businesses to understand their customers’ needs and preferences with minimal investment and risk. By releasing an MVP, companies can iterate on their product, incorporating user feedback to make data-driven improvements. This approach helps in reducing time to market and ensuring that the final product is closely aligned with user expectations and demands. Ultimately, an MVP helps in resource optimization and prioritizes essential features over less critical ones.