A Minimum Viable Product (MVP) is the simplest version of a product that contains only the essential features needed to satisfy initial users and gather feedback. MVP development allows companies to quickly bring a product to market, learn from user interactions, and make informed decisions about future enhancements.
For example, a software startup building a task management app might create an MVP with core features like task creation, task assignment, and basic notifications. The MVP provides a functional product to early adopters and allows the company to gather user feedback to prioritize feature development.
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