The significance of a minimum viable product (MVP) lies in its ability to validate a product concept with minimal resources. An MVP includes only the core features necessary to address the needs of early adopters. This approach allows businesses to gather essential user feedback and iterate on the product based on real-world use cases, reducing risks associated with full-scale development. Furthermore, an MVP helps in testing the market’s demand, ensuring that investments are made in features that genuinely resonate with users. Ultimately, MVPs accelerate product development and improve the chances of success in competitive markets.