What is Minimum Viable Product (MVP)? - Explained

In manufacturing, product development, or software development, minimum viable product or MVP is a very common term that you could hear and see. To sell a newly manufactured product or newly developed software application should be able to perform some or more than 50% functionalities which planed for the very first time of product development.

Defining a minimum viable product can be different from one to another and could differ from scenario to scenario and product to product.

Best Real Life Scenario

The best real-life example to explain the minimum viable product in the industry of manufacturing is Tesla Motors. After Tesla Lotus Roadster, Tesla launched the Model S. Which is a minimum viable product manufactured by Tesla Motors. Tesla advertised and promoted more advanced features like fully autonomy driving for the car but the most advanced features to be delivered later. Let's analyze how Tesla did this one by one and how you can use it in your organization.

Tesla brought the Model S to the market with huge technological advancements. And without any issue, everybody had a huge impression on the market towards the newest Tesla. Tesla made it very clear that the delivery of all high tech advancement will available on cars sometime later. And people bought Tesla's Model S without the full autonomy functionality and without the various other advanced features which tesla promoted.

Tesla's Model S is probably the very best recent example which describes a minimum viable product.