MVP stands for minimum viable product. Minimum viable product is the preliminary level product which only has enough features to enter into the market. While developing the MVP, we strive to make sure that the product has sufficient features to satisfy the initial customers, while also providing a feedback portal for further improvement of the product.

As gathering valuable insights from the MVP is less costly in terms of market research, small scale business and startups are slowly leaning towards them. Development of a traditional product and using it for a small-scale use in a business might not suit the budget of most of the business owners. In such situations, an MVP can act as a blessing in disguise.

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