An MVP, or Minimum Viable Product, is a basic version of a product that includes only the essential features needed to satisfy early users. The goal of an MVP is to gather feedback and learn about customer needs without investing too much time or resources. This approach helps businesses validate their ideas and make informed decisions for future development. MVPs are commonly used in the startup world, where companies aim to test their concepts quickly. By launching an MVP, businesses can identify what works and what doesn’t, allowing them to iterate and improve their product based on real user experiences.