MVP | Minimum Viable Product
MVP (Minimum Viable Product) is a product development approach that focuses on providing the core functionality of a product with the minimum features and resources necessary to gather valuable feedback from early adopters. The goal of an MVP is to validate the product concept and gather insights from real users as quickly and efficiently as possible to improve the product and make informed decisions about its future development.
MVPs are often used in the early stages of product development when there is a high degree of uncertainty about the market viability and potential of the product. By releasing a minimal version of the product to a small group of users, companies can test their assumptions about the product’s value proposition and gather data on how well it performs in the real world. This helps them identify and prioritize the features that are most important to users, as well as identify and troubleshoot problems and difficulties with the product.
Some related technologies and tools commonly used in MVP development are:
Prototyping tools: These tools enable companies to quickly create functional prototypes of their product that can be used to test and validate product design and functionality. Examples include InVision, Figma, and Adobe XD.
Project management tools: These tools help teams track the progress of their product development and coordinate work between different departments and team members. Examples include Asana, Trello, and Jira.
User testing tools: These tools allow companies to gather feedback from users and identify areas of improvement for their product. Examples include UserTesting, Lookback, and UserInterviews.
Overall, MVPs are a valuable approach for companies looking to validate their product ideas and gather valuable insights from real users early in the development process.
BITS experts have used MVP in a variety of projects. A selection of case studies and references can be found below.
