A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product’s initial users.
A minimum viable product (MVP) is the most pared-down version of a product that can still be released. An MVP has three key characteristics:
1. It has enough value that people are willing to use it or buy it initially.
2. It demonstrates enough future benefit to retain early adopters.
3. It provides a feedback loop to guide future development.
This technique helps them in making the final product much better. With the help of the MVP concept, the research or the marketing team will come to know where the product is lacking and or what are its strengths or weaknesses.
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