MVP stands for Minimum Viable Product in software development. It is a development approach where a product is built with the minimum features necessary to satisfy early adopters or users and gather valuable feedback for further development. The primary goal of an MVP is to validate the core concept of the product while minimizing the time, resources, and costs involved in its development. Here are some key characteristics of MVP:

• It is a version of a product that can be released to the market to test its viability and to determine if further investment in its development is warranted.
• It has enough features to satisfy early adopters and provide feedback for future product development.
• It is not a one-time effort but the starting point of an iterative development process.
• It is typically a complete, functional product of top quality that helps discover market fit.

MVP is an effective development technique that helps companies to release a new product quickly, test it, and gather feedback for further development. It is not about releasing a half-baked product for users to test, nor is it a prototype or proof of concept. MVP can be built with no coding skills, and it is a perfect way to test hypotheses for both startups and enterprises working on innovative solutions. MVP is a core artifact in an iterative process of idea generation, prototyping, presentation, data collection, analysis, and learning. The MVP launch is a great opportunity to verify whether your software is right for the target audience, and it makes the entire team feel more confident about the product. MVP helps in designing, testing, and delivering the software, and it helps to validate the product idea at an early development stage.