What is MVP (Minimum Viable Product)?

The MVP concept, popularized by Eric Ries in The Lean Startup, challenges the traditional approach of building full-featured products before launching. Instead, an MVP strips the product to its core value proposition. The goal is not to build a small product but to maximize learning with minimum effort. An MVP might be a landing page, a concierge service, or a basic working prototype.

The key is defining "viable" correctly. An MVP must deliver enough value that early adopters will use it and provide meaningful feedback. A product that is too minimal won't attract users or generate useful data. A product that is too polished wastes time and resources on features users might not want.

In case interviews, MVP thinking is relevant for product launch, startup strategy, and innovation cases. Recommending an MVP approach demonstrates practical business sense—test assumptions before committing major resources. Strong candidates can articulate what the MVP would include and exclude, what hypotheses it would test, and what success metrics would trigger further investment.