Minimum Viable Product

A product which has just enough features to gather valuable insights from customers while still in development, aka while in the beta version of that product. You often see this with the initial launch of a smartphone app: the simpler version comes out first, then once the company has seen how it does and worked out the kinks, a fancier (and often more expensive) version of the app follows. Also known as MVP (not the most valuable player . . . because that, of course, is you.)

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