Minimum Viable Product (MVP)
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A Minimum Viable Product (MVP) is a customer product with just enough product features to satisfy early customers and provide feedback for new product development.
- Context:
- It can be a strategy in Lean Startup Methodologies.
- It can allow for validation of product assumptions and gaining understanding of the customers’ interest in the product without fully developing out all product features.
- It can be used collect the maximum amount of validated learning about customers with the least effort.
- It can be a part of the Software-System Code Development Task.
- It can involve carrying out market analysis beforehand.
- ...
- Example(s):
- Spotify Service, 2006 (Spotify service).
- a Mobile App MVP, that focuses on the app's key functionality.
- an Online Service MVP, that focuses on basic features.
- ...
- Counter-Example(s):
- A fully developed product launched without any customer validation.
- ...
- See: Product Lifecycle, Minimum Lovable Product, Product Development, Product/Market Fit Measure.
References
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/minimum_viable_product Retrieved:2020-8-19.
- A minimum viable product (MVP) is a version of a product with just enough features to satisfy early customers and provide feedback for future product development. Gathering insights from an MVP is often less expensive than developing a product with more features, which increases costs and risk if the product fails, for example, due to incorrect assumptions. The term was coined and defined in 2001 by Frank Robinson and then popularized by Steve Blank and Eric Ries.[1] [2] [3] [4]
It may also involve carrying out market analysis beforehand.
- A minimum viable product (MVP) is a version of a product with just enough features to satisfy early customers and provide feedback for future product development. Gathering insights from an MVP is often less expensive than developing a product with more features, which increases costs and risk if the product fails, for example, due to incorrect assumptions. The term was coined and defined in 2001 by Frank Robinson and then popularized by Steve Blank and Eric Ries.[1] [2] [3] [4]
- ↑ W. S. Junk, "The Dynamic Balance Between Cost, Schedule, Features, and Quality in Software Development Projects", Computer Science Dept., University of Idaho, SEPM-001, April 2000.
- ↑ Eric Ries, March 23, 2009, Venture Hacks interview: "What is the minimum viable product?", Lessons Learned
- ↑ Perfection By Subtraction – The Minimum Feature Set
- ↑ Holiday, Ryan The single worst marketing decision you can make The Next Web. 1 April 2015