What is Minimum Viable Product?
A definition of Minimum Viable Product
“A minimum viable product (MVP) is an initial version of a product that includes only essential features to satisfy early adopters and provide feedback for future development.”

Business Glossary > What is Minimum Viable Product?
Examples of Minimum Viable Product in a Sentence:
The startup launched a minimum viable product to test with early adopters.
Creating a minimum viable product can help determine a product’s potential in the market.
The team focused on developing a minimum viable product to gather user feedback.
Why is Minimum Viable Product Important in Business?
Understanding what a minimum viable product is can help businesses reduce development costs and time by focusing on core features. It allows for quick iteration based on user feedback, minimizing risks and addressing market needs effectively.
Know Your Niche Inside Out by Tomorrow: Learn everything you need to know about a niche from a report rushed to you in 24 hours, (or spend the next 3 weeks researching).
Associated Terms
Here are some associated business terms and synonyms for “Minimum Viable Product”:
- Prototype
- Pilot Product
- Initial Product Release
Dropbox Minimum Viable Product
Dropbox launched its minimum viable product as a simple video demonstration before building a full application. This allowed them to validate user interest and secure funding based on the feedback received from viewers, ultimately helping to shape their final product.
Final Notes on Minimum Viable Product
When developing a minimum viable product, entrepreneurs should focus on functionality that addresses core user needs and allows for feedback collection. Iteration and refinement based on real user experiences are crucial for future enhancements.
This has been a definition of Minimum Viable Product meaning.
Explore more from our Business Term Glossary for Entrepreneurs