MVP (Minimum Viable Product)
An MVP is the simplest version of a product that allows testing a hypothesis with real users. It maximizes learning while minimizing the time and resources invested before the first real-market encounter.
In practice
Before building a full competitive analysis module, the team ships an MVP: an automated Excel spreadsheet delivered by email every Monday. If 30% of beta users open it two weeks in a row, the hypothesis is validated and native development begins. An MVP is often less minimum than assumed: it must be usable enough to generate real behaviors, not polite responses during user interviews.