An MVP (Minimum viable product) is a basic, launch-able version of the product that supports minimal yet must-have features (which define its value proposition).
An MVP is created with an intent to enable faster time to market, attract early adopters, and achieve product-market fit from early on.
Once the MVP is launched, initial feedback is awaited — based on which — you reiterate to fix the bugs and introduce new features that those early adopters suggest.
With the MVP approach:
· You can make an early market entry
· Enable early testing of the idea with actual users You can work effectively towards developing a fully-fledged product
What is the MVP Development Process?
In Mobile App developement, MVP is a basic version of a mobile application. MVP is a process of building a new product with core functionalities and important, minimum features, to test how the target audience would respond. Then, the building of the actual production takes place with the full set of features after a series of iterations, with feedback from early adopters.
Building an MVP implies finding the right balance between what your business is offering to users, and what users actually need. The purpose of the MVP is to test the hypothesis by minimizing errors. An MVP helps in collecting maximum quality feedback, by targeting specific groups, or types of users.
Business Benefits of MVP Product Development:-
