A multivariate test creation only differs from an A/B test in the way the variations are created inside the editor. In an A/B test you create completely different variations of the entire page whereas in a multivariate test, you only create variations of each section. You select multiple elements/sections on your website and create variations for all the chosen sections. On a landing page, for example, you may select call to action, ad copy and product screenshot as sections. Now for each of the section, you come up with different variations. All these variations are combined to create unique combinations of your website.
If there are 2 sections, both with 2 variations, there would be 2*2 = 4 combinations. All these combinations are pitted against each other to observe the combination which converts the maximum. During the test, it is then seen which combination results in maximum conversions.
Below is a screenshot of a MVT test being created inside VWO editor with one section selected.
Things to remember while creating a MVT test
1. You can change the xpath of a section as shown in the below screenshot.