What is a minimum viable product (MVP) in Agile Development?

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What is a minimum viable product (MVP) in Agile Development?

A minimum viable product (MVP) in Agile Development refers to a version of a product that has the minimum set of features required to satisfy early customers and gather feedback for further development. It is a strategy used by Agile teams to quickly validate their assumptions and test the market demand for a product or service. The MVP is designed to be released as early as possible, allowing the team to gather valuable user feedback and make informed decisions about future iterations. By focusing on the core functionality and essential features, the MVP helps to minimize development time and costs while maximizing customer value. The feedback received from users is then used to refine and enhance the product, ensuring that subsequent iterations meet the evolving needs and expectations of the target audience. The concept of MVP encourages a lean and iterative approach to development, enabling teams to deliver value to customers faster and adapt to changing requirements more effectively.