Minimum Viable Product (MVP)

What is a Minimum Viable Product (MVP)?

A Minimum Viable Product, or MVP, is a version of a new product that has just enough features to be usable by early customers, who can then provide feedback for future product development. It's the most basic version of a product you can launch to start learning from real users. The idea is to get the product to market quickly, without spending a lot of time and money building features that nobody wants. This "build-measure-learn" feedback loop is a core concept of the Lean Startup methodology.

Related Terms

Managed Service Provider (MSP)

What is Managed Service Provider (MSP)? A Managed Service Provider, or MSP, is a company that remotely manages a customer's IT infrastructure and/or end-user systems, typically on a proactive basis and under a subscription model. Instead of a business hiring its own IT staff, it can outsource its I

Margin

What is a Margin? In a sales context, margin refers to the difference between the price a partner sells a product for and the price they paid the vendor for it. It's the partner's profit on the sale. For example, if a reseller buys a software license from a vendor for $70 and sells it to the end cu

Market Development Funds (MDF)?

What are Market Development Funds (MDF)? Market Development Funds, or MDF, are funds that a vendor provides to its channel partners to help them with their local sales and marketing efforts. It's a form of co-operative marketing. A partner can apply for MDF to help pay for activities like hosting a

Market Leader

What is a Market Leader? A market leader is the company that has the largest market share in a particular industry. A market leader often has significant advantages, such as strong brand recognition, economies of scale, and the ability to set industry trends. Other companies in the market are often

Market Penetration

What is Market Penetration? Market penetration is a growth strategy where a company focuses on selling more of its existing products to its existing target market. It's about increasing your market share. Tactics for market penetration can include lowering prices, increasing marketing and promotion

Marketplace

What is a Marketplace? An online marketplace is an e-commerce site that connects buyers and sellers, but doesn't own the inventory itself. Think of platforms like Amazon, eBay, or the Apple App Store. These marketplaces provide the infrastructure for third-party sellers (including partners) to list