How to Set the Application Version in your Android App

android:versionName — A string value that represents the release version of the application code, as it should be shown to users.
The value is a string so that you can describe the application version as a <major>.<minor>.<point> string, or as any other type of absolute or relative version identifier.
The system does not use this value for any internal purpose, other than to enable applications to display it to users. Publishing services may also extract the android:versionName value for display to users.

1. In the AndroidManifest.xml file, add the below line between the <manifest> tags.

<manifest
    ...
    android:versionName="1.1">
</manifest>

2. Compile and run!

Resources:
http://developer.android.com/tools/publishing/versioning.html