(MVP) Minimum Viable Product
What is a Minimum Viable Product (MVP)?
In product development, the minimum viable product (MVP) is a product which has just enough features to gather validated learning about the product and its continued development. Gathering insights from an MVP is often less expensive than using a product with more features which increase costs and risk in the case where the product fails, for example due to incorrect assumptions. The term was coined and defined by Frank Robinson, and popularized by Steve Blank, and Eric Ries. It may also involve carrying out market analysis beforehand.