MVP vs MVP: Minimum Viable Product Vs Minimum Valuable Product
When someone hears the acronym MVP, the thing that comes to their mind is the epic rivalries between Larry Bird vs Magic Johnson, Lionel Messi vs Cristiano Ronaldo, etc. But in software development, MVP relates to 1) Minimum Viable Product 2) Minimum Valuable Product.Minimum viable product is the art of avoiding all the clutter that the customers don’t need. Through the MVP iterations, it is easier to develop a lean product in the quickest way possible and with minimum effort.On the other hand, there is another MVP that is making its mark in the market. Most Valuable Product (MVP) is a process of product development that is more fluid. Here, the businesses operate at maximum efficiency to keep themselves ahead of their competitors. To make sure that the most valuable product is doing good, organizations have to implement continuous improvement principles.Therefore, it is necessary for firms to understand between minimum viable product vs minimum valuable product to make the most of both practices.
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What is MVP used for?
The concept of MVP can help businesses on multiple levels. For starters, minimum viable product examples allow companies to see whether the target customers are interested in their product or not. In addition, it helps in generating early feedback so that the companies can do required changes at the early stages.MVPs can also assist in enhancing the overall revenue whether it is a product or a service.Different types of Minimum Viable Products (MVP)
To understand what MVPs can do, it is also important to know their different types. In total, there are six different ways to use this concept. We will see them one by one.Product designs
There is a myriad of ways of using product design as an MVP. Each of these ways is useful for either mobile apps, software, or any other tech tools. The usage begins from drawing a simple sketch. After that, it can be used to design a wireframe. This will enhance the overall user experience and app navigation. Moreover, with product design, businesses will build a mockup that will help them to demonstrate how their product will exactly work.Concierge
When people are willing to pay for a subscription service that sends them selected personalized products, it is known as concierge MVP. Businesses can begin selecting the products for the individuals manually. Moreover, if the MVP product development proves to be successful, business houses can build that helps in analyzing the user response.Piecemeal
This type of MVP is built from the tools that already exist. The entrepreneurs will bring such kind of tools and components together with a view to show how the product will work.Demonstrative videos
The demo videos will show and explain how the product will actually work. Business organizations can use the video to make their target audience understand the solution they are providing. Through the videos, it becomes easier to analyze the likes and dislikes of the market.Software prototypes
It is one of the most common minimum viable product examples. This process uses agile development to build the software with just the core components. As agile development is a flexible project, it involves product development through continuous improvement. One of the best examples of the agile development process is the scrum framework.Landing pages
The landing page MVP helps businesses in multiple ways. Through this, the business houses can gauge the interest of their target audience. Also, through their personal data like email addresses, the company will have the required information and it will be easier for them to generate the leads from it.Read More: What Is Scrum - How It Works, and Why It’s Amazing
Top 11 superlative Minimum Viable Product (MVP) examples
After understanding the basics of minimum viable products, it is time to look at the examples that have made their mark in the market. There might be many examples in this list that you may know as big companies today, but remember, all these were MVPs one day.AdWords Express


Uber

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Groupon

Amazon

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Dropbox


Airbnb
Joe Gebbia and Brian Chesky, the founders of Airbnb, were finding it difficult to afford a rent. So, in October 2007, they came up with an idea: an air mattress in their living room and rendering bed and breakfast services.The primary aim was to make extra money but soon the founders realized that this idea could be a goldmine. They quickly put up a website, but struggled to find customers in the initial phase. Then they developed a minimum viable product and just targeted the audience of Craigslist. Then, gradually, it became clear that the customers were willing to stay in someone else’s room to save money on accommodation. And since then, there has been no looking back for the business organization.
Spotify

AngelList

Buffer



