MVP stands for Minimum Viable Product and means minimum viable product.
It is a business administration practice that consists of launching a new product or service with the least possible investment, to test the business before making large investments.
An MVP is a minimal version of the product, with only the functionality necessary for it to fulfill the function for which it was intended. From the MVP, the efficiency of the product, its usability, market acceptance, comparison with the competition, among other forms of validation, are tested.
After this validation step, the product is again developed and improved, and only after that it gains the market properly, with investment in marketing and so on.
The concept of minimum viable product it is widely used by companies in the innovation area and by startups, especially those linked to information technology.
See also the meaning of startup.
MVP also means Most Valuable Player and refers to the most valuable player in the NBA, the American basketball league.