Minimum Viable Product (MVP) is a technique used to launch a product with just enough features to satisfy early customers and validate the idea, while minimizing development costs and time. An MVP is a version of a product that includes only its most essential features, allowing businesses to test their assumptions and gather feedback from early adopters before investing further resources.
Here are some examples of popular products that were launched using MVP but enhanced later:
Dropbox: Dropbox started as a simple file-sharing service with just a few basic features. They launched their MVP in 2008, and it quickly gained popularity, allowing them to invest in more features and integrations.
Airbnb: Airbnb started as a simple way for hosts to rent out their spare rooms to travelers. They launched their MVP in 2008 and used customer feedback to expand the platform, including adding features like online booking and professional photography.
Instagram: Instagram launched in 2010 with just a few basic features, including photo filters and the ability to share photos on social media. They used customer feedback to add new features like video and Stories.
I wanted to elaborate more on this topic talking about mvp types available.
There are seven most used types of MVP:
Fake-door MVP / Landing page MVP
Email campaign MVP
Pre-order MVP / Crowdfunding MVP
MVP Concierge
Wizard of Oz MVP
Single-feature MVP
Piecemeal MVP
Let's talk about some of them.
MVP Concierge
The “Concierge” MVP type is ideal to test the idea of an app that provides personalized services like individual fitness programs or healthcare plans, and so on. Everything is handled by you, not by an automated script. So, you manually offer the service and users know that they are getting the service provided by a person. Best for: testing an idea of a service app or software when users are aware that the service is provided by a human.
MVP for single-use
This type of MVP helps to test the hypothesis of the viability of a particular function. Single-feature MVP has a wide implementation for live products and companies that need to test a new feature. For example, you already have a website, and you can create a separate landing page for an individual task and look at its impact. Best for: testing the viability of a specific feature or value proposition. Suitable for those who already have a product and looking to develop new functionality, service, or value.
Piecemeal MVP
This type of MVP means that you can develop your product using third-party software and services. The main idea here is that the services you connect into one product should provide a unique value to users which separately they don’t. Best for: apps that have complicated processes or functionality which can be created by combining already existing services and apps.
All of the MVP types in our article have the same specific objective, which is to test the market and determine demand with the least amount of resources. Different approaches and measures are used. Your product launch is one step closer if you choose the MVP type. It's a significant milestone that requires extensive research and testing.