Misunderstanding MVP can cause product failures, as teams may incorrectly prioritize 'minimum' over 'viable.' This article aims to demystify MVP and provide clarity on its true meaning and application in product development.
Often, MVP is defined based on the available budget or teams' available capacity. Many product development teams overemphasize the 'minimum' aspect, mistaking it for a first release, a functional prototype, or merely a tool for user feedback.
According to Merriam-Webster, 'minimum' in product development means the essential features required to deliver a viable product - a qualifier for the more crucial elements: Viable and Product.
'Viable' means capable of existence and development as an independent unit, not requiring subsequent developments to meet viability. A viable product must sustain itself in the market indefinitely under stable conditions.
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