Minimum Viable Product (MVP)
Content
Definition
The Minimum Viable Product (MVP) is the most pared-down version of a product that can still be released to market, having just enough features to satisfy early customers and provide feedback for future product development.
Usage and Context
MVPs help companies quickly launch a product with basic features to test the market and gather user feedback for future improvements.
Frequently asked questions
- What does MVP mean in Agile? In Agile, MVP stands for Minimum Viable Product, a basic version of a product with just enough features to satisfy early users and gather feedback.
- How to define an MVP? To define an MVP, identify the core features that address the main problem your product solves, and ensure it can be built quickly and tested with real users.
- What are MVP requirements? MVP requirements include essential features that solve the primary problem, are cost-effective to build, and can be tested with users to gather feedback.
Benefits
MVPs allow for quick market entry, cost savings, user feedback, and iterative improvements.
Conclusion
Creating an MVP helps businesses launch quickly, gather valuable user feedback, and make data-driven decisions for future product development.
