A minimum viable product is the simplest version of the final idea, with only the essential features required for functionality. It is developed at a stage where an entrepreneur does have a business idea but not a concrete product to materialize that idea. In such a scenario, the entrepreneur is unaware of the features customers will like in the development or whether the customer will even like the product.
So it is after developing an MVP, the entrepreneur can receive some feedback from the early adopters and add all necessary features required to make the product likable and increase its market demand. These features are added in small iterations, also known as sprints. After implementing several sprints, the product started becoming likable and is ready to be launched in the market.
For eCommerce startups, developing an MVP platform can tell the entrepreneur whether their business idea would be profitable in the targeted market region. The eCommerce industry is expanding rapidly but is yet to penetrate numerous global areas. To help you set up your eCommerce business idea, such as online food delivery, cab booking, and more in such regions, or even compete with existing businesses, FATbit Technologies, a leading MVP software development company, can help you plan and launch your MVP product.