MVP (Minimum Viable Product): Efficiency in product development

MVP, or Minimum Viable Product, is a concept from the lean startup methodology that focuses on developing a product with the minimum necessary features to make it available to early adopters and gather valuable feedback. This approach allows companies to utilise time and resources efficiently by quickly launching a basic product that can be iteratively improved based on user experience. Implementing an MVP helps startups and established companies to minimise market risks and validate product-market fit faster, leading to accelerated product development and optimisation.