Before we can make a comparison- Prototype and MVP, let’s understand them individually.
What is a Prototype?
The prototype is just like a script for the movie. It showcases the features as an outline of a scene showcases its best dialogues and scenes. Therefore, a Prototype is a smaller version or representation of the idea that the app rests upon. It helps you get feedback from the investors, and project stakeholders. It primarily gives a fair indication of the project.
Types of Prototypes
Prototypes may vary based on their fidelity.
Low level
These are the low-fidelity prototypes and are as simple and easy as a hand-drawn sketch. It is a visual representation of a paper wireframe.
High Level
High-fidelity prototypes on the contrary are clickable and truly exhibit all the qualities of the real product. They give you an experience that will be similar to the actual look and feel of the key software product. Also, many hi-fi prototypes make use of the early code.
Key Prototyping Benefits
???The cost factor
Cost being an important resource, it must be used efficiently. The prototypes are the replica version of the actual app and therefore may not require as much time to be developed
???Feedback
Prototypes can help one get a better picture and feedback. As they have a little gestation period, their testing becomes easy. As such designers and developers get quality feedback on the same. On the other hand, the complaints if any can be addressed in the very early stages thus making it worthy in the future.
???Easy to adjust.
As we all know, understand that prototypes are very simple and flexible. They are easy to adjust and therefore it is easy to make the changes. It has become easy to test out new ideas and helps in the comparison of options. So as we study
???Low-risk association
As they are the simpler versions, the risk association is also very low. There is no guilt in terms of financial resources and development time. As such they are a good option for startups who have a new idea and are doubtful of its success. It is imperative to see the success of the prototype before disposing of all the resources in full-scale development.
???Fundraising
Fundraising may be difficult in case you are not able to give your best in the idea presentation. In such cases, prototypes act as an easy option as they help in tangible representation of the ideas and can help raise funds.
What is an MVP?
MVP(Minimum Viable Product) is just like a trailer for the movie. It showcases the features as a trailer showcases its best dialogues and scenes. Therefore MVP is a simple visual representation of the idea that the app rests upon. It helps you get feedback from the critics, project stakeholders, or end users. It primarily gives a fair indication of the project success figures.
As it is the simplified version of the future product, it reflects the true picture of the app.
It is essentially the bare-bone software with all the functionality enough to represent a fair idea. It is like a live test taken on a broader audience. Not only this, but It may be really exciting to see the response and aim for early payback.
As MVP runs successfully in the market, One can opt for the full-featured app by slowly integrating features into it. The basic difference between the Prototype and MVP is that while a prototype is just a script and model of the actual product, MVP is a market-ready app that represents the functionalities of the real product.
Key MVP Benefits over Prototype
???Concept validation.
What’s better than seeing your ideas turn into reality? The realistic representation provides insight into the main product. The practical insights validate the ideas and assumptions on which theta is based.
???Real user feedback.
Showcasing the prototype with the idea representation is a narrow concept. It can be shown only to a limited number of people like investors, stakeholders, and investors. On the contrary, MVP helps you represent the idea to a larger audience. Your app is ready and free to be used by users. The more the users, the more feedback we can expect. Further, the larger the feedback larger the insight figures. Thus, helping to find out the pain points and make necessary adjustments before the final launch.
???User acquisition.
Just as songs can help you call an audience for the movie, MVPs help you attract customers and early adopters. They are the ones that actually can help you create the necessary buzz for the product.
???Revenue
MVP helps you reap paybacks. Paybacks act as real motivators and therefore lead to lowering risks and inviting fresh income streams into the accounts.
What should I Opt for? Prototype and MVP
The battle of Prototype and MVP is to an extent a personal choice problem. It primarily must be based on the premise of the phase of the software development cycle. If you are floating in the early stages and less confident about the idea yourself and are still struggling with the resources at hand, go for Prototype. The prototype here will help you refine the idea and test early designs. Later on, as you get the feedback and support of investors, go in for the MVP for the same.
However, if you are ready to bet on your idea and feel the kick to take the challenge in the real world, go in for MVP. MVP will help you get a better picture and thus help you launch the app in a better way.
Further, If you need any type of professional advice or seasoned technological expertise to streamline the early stages of your project’s growth, don’t hesitate to reach out to Sifars.
