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So you are in the process of developing an app and done with app idea validation and are all set to move to the next best-suited step. Well, the next best step is to create a compressed version of your product in order to put it to test because ultimately it’s the user problems and feedbacks that are kept in mind while creating or updating an app.
At this stage of the app development process, you might get stuck in choosing between certain options i.e. MLP vs MVP vs MMP/MSP for a product with minimum features so you can put that into test afterwards. Well, if I am not wrong, you have landed on this page because you have been wondering about the differences between MVP, MLP and MMP/MSP so you can opt for the best.
Note: MVP stands for Minimum Viable Product, MLP stands for Minimum Loveable Product, and MMP stands for Minimal Marketable Product and MSP stands for Minimum Sellable Product.
MVP or Minimum Viable Product
In the book The Lean Startup, the author Eric Ries, mentions an MVP as, “[...] that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.” And hence, an MVP or Minimum Viable Product is basically a product assembled and developed with the least required resources and core features in order to put it into test by the early adopters or other people for their feedback.
So when we consider "minimum products" that are required for the app development process, an MVP or Minimum Viable Product is preferred in most cases as a standard go-to solution.
Moreover, considering the need for putting out the least efforts in the development of an MVP, it is best-suited in providing insights about the market requirements, what needs to be taken into account before designing, developing or releasing the final product out, how you can use the data to increase the sales and profit, and more.
Benefits of MVP or Minimum Viable Product:
Since a Minimum Viable Product is created with the minimum core features as well as resources, it doesn't cost much and can be prepared at a faster pace. Apart from that, this process before the development of final product helps with the reduction of rework later.
Moreover, an MVP will help in providing you with enough data or feedback loop from your early adopters or other groups on if people would be interested in investing in it or not or what enhancements could be helpful for making your Minimum Viable Product spread throughout the market and sustain for a longer period of time.
Apart from the above, with the help of the core data accumulation for an MVP or MVPs, you will be able to know about the MMP/MSP or Minimal Marketable Product/Minimum Sellable Product. Let’s talk about it in detail:
MMP or Minimal Marketable Product (also known as MSP or Minimum Sellable Product)
In 2018, as per a report, the Google Play Store had 2,100,000 applications; however, the Apple App Store had 2,000,000 applications. So, what value does your app has in order to stand out among the ones previously there? How do you think your product will be Marketable or Sellable or be craved by people?
As we mentioned above, you will have a better idea about the best MMP/MSP or Minimal Marketable Product/Minimum Sellable Product once you gather enough data by testing multiple MVPs, which consists of the basic features required in an app. Moreover, once you will have a clear idea of what features have been admired by the testers or consumers depending upon the understanding of what solid problems they had been going through and what you are trying to fix with your app.
You will also be able to get a fair idea about your targeted users and if your app features are willing to solve their concerns, they will definitely come ahead to invest in it, which will then make it sellable at a larger scale. Moreover, you will be able to upgrade or modify certain things whenever required once your app gets launched in the market that too at a cost that is a lot lesser than its full version cost as you will have returns on your invested money and more.
So here is a hook; in order to make your product stand out among the hundreds or thousands of apps, which are already in the market; you must have an idea that can break the ice for people, to be attentive to what your app has got for them so they can find a reason to invest in it in the long run. Your app must be beneficial in addressing the immediate needs of your targeted users.
MLP or Minimum Lovable Product
Well, no one can deny the fact that love is an emotion, which runs this world and our society, and anything to be loved has to have something remarkable. Moreover, it doesn’t matter if it’s a product or something else. So in order to have an audience for your product you have to make sure that they are so engaged with the product that they feel it would be a part of their regular routine.
And hence, an MLP or a Minimum Lovable Product, as the name suggests, is meant to be loved without any delays, especially if your app is built for an already developed market, which requires it.
Apart from the functions of an MLP or a Minimum Lovable Product, it promises the consumer quality by taking extra care of certain significant app features, before the product is into the market. And hence, with such an approach towards the product, you are able to provide your group of testers an experience they can connect with emotionally. Moreover, your product has to be something the users would want to share with other people further building a community.
(MLP) Minimum Lovable Product Vs Minimum Viable Product (MVP):
The very core difference between an (MLP) Minimum Lovable Product Vs Minimum Viable Product (MVP) has been demonstrated in the above image. And hence, when it comes to the development of an MVP or Minimum Viable Product, it is based on functionality and helps with the evolution of your ideas for your product or products in the marketplace.
On the other hand, an MLP or Minimum Lovable Product consists of a fraction of functionality combined with usability, emotional design as well as reliability. An MVP might be cost-effective when it comes to investing in the initial stages and testing.
However, in the case of an MLP or Minimum Lovable Product, you are providing your users with the most relevant i.e. to say the most lovable experience with the emotionally engaging features of your app. And hence, it's more like a revolutionary move and one should not doubt considering an MLP over MVP.
(MMP) Minimal Marketable Product Vs Minimum Loveable Product (MLP)
Since MMP is a higher or we can say an updated version of an MVP, there is not much difference between the core features of the product and hence, there isn't something like MVP or Minimum Viable Product Vs Minimal Marketable Product or MMP. However, when it comes to the difference between MMP & MLP, a Minimum Loveable Product (MLP) is an option people would prefer investing in at a higher scale because of the lower cost.
On the other hand, an MMP could help in providing the ROI faster as compared to an MLP, where users have to be highly engaged before any of them becomes a regular customer that feels an emotional need to do it.
MLP Vs MVP Vs MMP/MSP Comparison
|Develops faster||Develops faster||Develops slower as compared to MVP|
|Minimum features to test the idea||Minimum features to sell the product||Minimum features to get an emotional reaction|
|Developed on the idea||Developed on multiple MVPs||Developed on the MVP concept|
|Solves the need||Solves the need||Solves the need and develops an emotional bond|
|Non-marketable (made for testing an idea)||Marketable||Marketable as well as remarkable|
|Cheapest||Quite cheap||Cost is dependent on the required app features|
In the end, if you think you have an idea of an application, which can be valuable for your targeted users, can bring them solutions for the problems and fulfill their needs, or build a community with high engagement, go ahead and start executing on it now. Moreover, the MLP Vs MVP Vs MMP/MSP Comparison above will enlighten you with the best possible options you can go for.