A Minimum Viable Product (MVP) is a product development strategy that involves creating a version of a new product with just enough features to satisfy early adopters and gather valuable feedback. The concept, popularized by the Lean Startup methodology, aims to validate business ideas quickly and efficiently by launching a basic version of the product in the market. This allows developers to test core assumptions, learn what resonates with users, and make informed decisions about future development based on real-world usage data.

The MVP approach reduces the risk of investing significant resources into a product that may not meet market needs or expectations. By focusing on the essential features that solve a specific problem for the target audience, companies can iterate and improve the product based on actual user feedback. This iterative process helps ensure that the final product is well-aligned with customer needs and can be brought to market faster, ultimately leading to better product-market fit and more successful outcomes.