A Minimum Viable Product (MVP) is a development strategy that involves creating the most basic version of a product that can still deliver core functionalities and satisfy early adopters. The goal of an MVP is to test and validate ideas with minimal resources, allowing for feedback-driven improvements. By focusing on essential features, businesses can launch quickly, gather valuable user insights, and iterate on the product based on real-world usage. This approach helps in reducing development costs and risks associated with building a product that might not meet market demands or expectations. An MVP differs from a prototype in that prototypes are used for initial concept testing and exploration within controlled environments. In contrast, MVPs are deployed in real markets to validate assumptions about customer needs and business viability through practical use cases.