Minimum Viable Product (MVP)
The term Minimum Viable Product, or “MVP” was first used by Frank Robinson in 2001. Eric Ries helped to popularize the concept around 2009. According to Ries, “the minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.”
An MVP isn’t meant to be weak, thin, or sloppy. Instead, it is the basis of a product that helps identify its sweet spot. It solves needs for users, but doesn’t give them everything they may want (yet). The goal of an MVP is to get the core idea of the product into the hands of users as quickly as possible. This opens up a feedback loop that provides valuable information from users regarding how the target market is uses the product and how they would like to see it improved. The more feedback received, the more the product can adapt and improve to suit end users, resulting in a more successful and market-friendly product.