MVP stands for Minimum Viable Product. It is a product development strategy and approach that focuses on creating a basic version of a product with the minimum set of features required to meet customer needs and validate the product's viability in the market. The purpose of an MVP is to quickly test and gather feedback from users or customers, validate assumptions, and iterate on the product based on real-world insights. By developing an MVP, businesses can minimize time and resources spent on building a fully-featured product that may not align with customer expectations or market demand.
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