The term used to describe experimental prototype products that many entrepreneurs build from scratch with bare-bones features and basic functionality, aiming to appeal to early adopters, is Minimum Viable Product (MVP). An MVP is the simplest version of a product that includes just enough core features to satisfy early customers and to provide feedback for future development. It allows entrepreneurs to test their ideas in the market quickly and with minimal resources, collecting validated learning about customers with the least effort. The feedback from early adopters helps refine and improve the product iteratively before full-scale development
. This concept was popularized by Eric Ries as part of the Lean Startup methodology and is widely used to minimize risk and avoid building products that do not meet market needs
. Unlike prototypes or proofs of concept, an MVP is a functional product released to real users to validate the product-market fit and guide further development
. In summary, the correct term is Minimum Viable Product (MVP).
