What defines a 'minimum viable product' (MVP)?

A minimum viable product (MVP) is defined as the simplest version of a product that can be released to users for feedback. The primary objective of an MVP is to validate assumptions about the product's functionality and appeal by delivering a basic version that includes just enough features to satisfy early adopters. This allows the development team to gather valuable insights and feedback from users, which can then be used to iterate and improve the product further.

By focusing on delivering a minimal feature set, organizations can reduce time to market and lower development costs while still testing the core value proposition of the product. The MVP approach encourages a cycle of continuous learning and development, enabling teams to refine their understanding of user needs and preferences before committing to a full-scale product launch.

In contrast, the other options do not align with the essence of an MVP. A complex product version or a finalized product aimed for mass production may fail to address real user needs early in the development process. Similarly, incorporating all user feedback at the MVP stage can lead to scope creep and may detract from the original goal of creating a focused product that facilitates learning and validation through user engagement.