Everything to know about Prototype vs MVP

What is Prototype?

A prototype is also a sample product, but it is developed for testing and demonstration purposes. It has nothing to do with market validation and shows the original concept or idea behind the software in detail.

A prototype is prepared for various reasons, such as a pitch product to attract investors or demonstrate how the idealized software will behave. It can also be used for simulating the functionality of the software in real-world scenarios. Lastly, prototypes are also used by software development teams, for conversion purposes.

What is MVP?

A Minimum Viable Product or MVP is a product in a nascent stage of iterative product development that has just a minimum set of features and functionalities that can give validated learnings before a product is launched, by way of feedback from the end-users.

Software companies that provide MVP development services, allow businesses to maximize ROI by accelerating product development and minimizing risk. With the MVP businesses can also draw interest from investors and other stakeholders to gain traction on their projects.

Difference between MVP and Prototype:

There is a vast difference between an MVP and a Prototype. While an MVP software assists in validating the market demand, a prototype is only used for product demonstration purposes. There are two types of prototypes that an entrepreneur can develop, these are:

Low Fidelity Prototypes: Such as 2D drawings that only depict the product design and explain feature placement and functionality on paper. These prototypes are not functional and thus cannot be tested.

High Fidelity Prototypes: These prototypes closely resemble the final product and are fully functional.

Now, some notable differences between an MVP and prototype are:

MVP is developed before launching the final product for market validation. On the other hand, a prototype can be developed for each iteration. For example, your MVP can have a prototype of its own and the final product can have another.

While MVP is inclusive of the most basic features, a prototype demonstrates all the features of the product.

MVPs can look far different from the actual product whereas prototypes closely resemble the final product, including all aesthetic features and colors.

While MVP can also be used for idea demonstration purposes, a prototype cannot be used for market validation.

Considering that product development from MVP is a long route process, only agile methodology is used for MVP development. On the other hand, a prototype can be developed using any software development methodology.

While you can use a prototype for feature testing, an MVP cannot be used for the same.

How to build marketplace MVP

MVP development is usually developed using agile methodology from scratch. This ensures that its development time is already very short in comparison to full-fledged software. However, still, there’s a faster way to develop an MVP, which is to opt for a readymade solution. These solutions are already developed by software development experts by spending thousands of hours into planning, research, and development. All that an entrepreneur needs to do is rebrand the software and launch it in the targeted market to collect early adopter feedback.

Now the most important aspects to speed up the MVP development work are:

• To collect a list of early adopters beforehand who will be willing to review and provide genuine feedback on your product. They also need to filter user needs while maintaining full confidentiality.

• Prefer opting for readymade software instead of custom development for the fastest results.

• Automate the development process with the help of a good software development environment (SDE).

• Limit the Work in Progress (WIP) to prevent overburdening your developers.

• Start pre-launch campaigns while the software is still in progress to increase brand awareness.

Conclusion

Both MVP and prototype assist in reducing the market risk. They help you validate the idea and conceptualize every need. While MVP development focuses on the former of the two, the latter is managed by a prototype. For launching a startup, entrepreneurs can get both MVP and prototype developed from the same company. For competent MVP development services, you can contact FATbit Technologies, which is a leading MVP software development company that helps entrepreneurs launch eCommerce startups in various niches like food delivery, cab booking, online tutoring, rental marketplaces, and seller marketplaces.