What is a Minimum Viable Product?
A minimum viable product (MVP) is a product version with just enough features to be usable by early customers who can then provide feedback for future product development.
A focus on releasing an MVP means that developers potentially avoid lengthy and (ultimately) unnecessary work. Instead, they iterate on working versions and respond to feedback, challenging and validating assumptions about a product's requirements.
An MVP can be part of a strategy and process directed toward making and selling a product to customers. It is core in an iterative process of idea generation, prototyping, presentation, data collection, analysis, and learning. One seeks to minimize the total time spent on an iteration. The process is iterated until a desirable product/market fit is obtained or until the product is deemed non-viable.