Minimum Viable Product vs. Proof of Concept vs. Prototype

What is MVP (minimum viable product), proof of concept and prototype definition? In this video, Railsware Academy describes the whole product pipeline and its key terms☝️ We will outline the differences between minimum viable product (MVP)🤖 and minimum lovable (MLP)❤️, marketable (MMP)📣, and awesome (MAP)🔥 products as more advanced MVP examples. Here are the key product pipeline terms: 🔹 The proof of concept (PoC) is executed to decrease technology risks and prove the feasibility of doing a particular task. This is not a customer-focused task. 🔹 A prototype is a step in product creation that answers the question “How can we build that?” The early adopters of the prototype are usually the people involved in its creation. 🔹 MVP goes public and helps product creators learn from user feedback. 🔹 Minimum lovable product (MLP) focuses on love it can bring to the users and is frequently called an alternative to the