MVP (Minimum Viable Product)

Also known as: Minimum Viable Product, Lean Product, Beta Product

Minimum functional version of a product with just enough features to be tested with real users and generate learning.

The MVP (Minimum Viable Product) is an early version of a product containing only the essential features sufficient to be tested with real users and generate validated learning about the market, with the minimum possible investment.

The concept was popularized by Eric Ries in 'The Lean Startup' as a counterpoint to traditional product development (waterfall). Instead of spending months or years developing the perfect product, the MVP allows quickly learning whether the product satisfies a real need and how to improve it.

In market research, the difference between a concept and an MVP is the level of reality: the concept is an idea, the MVP is a functional albeit limited product. MVP studies include HUT (Home Use Test), beta testing, and real usage behavior metrics.