Minimum Viable Product (MVP) - a the minimum features for a product to be launched and no more. The concept is to quickly deploy the product to the marketplace and get real feedback from real customers as quickly as possible. The focus is on determining the minimum features needed to launch the product (normally on a small scale) and learn from actual use what should be done next.
The idea is similar to the agile software development focus deliever working features quickly. The frustration many software developers have experienced with "waterfall" (long, rigid planning and program management processes) has made this idea very popular. Instead of spending a great deal of time before getting real feeedback from people using the product/software get a usable product launched as quickly as possible and then improve from there.
From Eric Ries, What is the minimum viable product?:
The purpose of using the MVP technique is to quickly learn from customers and apply that learning to improvements to the product (and possibly learn the market for the product is not worth pursuing).Related Terms: