PoC vs MVP vs Prototype: Which Strategy You Should Prefer to Build a Market Fit Solution

Whether you are a start-up or an enterprise-level organization, everyone wants to build a solution that is liked by the audience to achieve success in the future. The most common ways that help entrepreneurs to reach their goal is by Proof of concept (POC), Prototype, and minimum viable product (MVP).

But what do they stand for? And which should you choose for your business? These are some of the frequently asked questions that are widespread today. In this blog, we will clarify the purposes and help you figure out which one you should choose for your business.

What is Proof of Concept (PoC)?

It is an approach that helps businesses to validate the idea and feasibility of the concept. It is an initial step in the mobile app development process. It is done to verify if the concept, whether it can be implemented on the technical capability and business model grounds or not.

The mobile app POC is not usually released in the market. But you can show it to your potential investors that can help you raise seed funding for your project. The main features of POC are:

• Check feasibility and potential of your business idea
• It is a cost-effective way to validate features
• Be transparent about the project in the beginning

What is a Prototype?

A prototype is all about showing how an app will flow from one screen to another. It deals with UI/UX and allows you to visualize how the target audience will interact with your product. A renowned software development company builds a highly scalable prototype that enables you to understand the app flow, its usability, and what all features can be added to the app.

Prototyping is about developing a model of your app that can be tested and reworked until we get the desired results. Features of prototypes are:

• Allows getting early feedback
• Helps in identifying mistakes in design & development phases
• Simplifies complex ideas into an understandable format

What is Minimum Viable Product (MVP)?

Unlike POC and prototype, MVP is a functional product that has a minimum set of features and is released in the market to find out what will be the acceptance rate of your app. It is a standalone application that helps you verify app feasibility. MVP gives you room for learning, enhancing, and analyzing your end-product. Features of MVP are:

• Greater development readiness
• Attracts high retention value through small investment
• Prevents wastage of time and money

PoC vs Prototype vs MVP: Which Should Be Your Preferred Choice?

To achieve a market fit solution, entrepreneurs should make a wise decision. POC, Prototyping, and MVP are the strategies that can be applied in a sequence. However, due to a lack of resources, time, and budget, companies do not prefer to develop all three of them. We’ve made a list that will help you choose which strategy is best as per your business model.

Choose MVP when:

• You want to show users a functional product with in-built features
• You want to launch a product and generate revenue instantly
• You want to build a polished product that runs without any bugs or errors
• You wish to know market opinion for improving the application

Choose Prototyping when:

• You have limited time and money for showing your project to stakeholders or end-users
• You want to visualize the end product for better results
• You have limited technical availability
• You want to know whether your product will look appealing or not

Choose PoC when:

• You need seed-stage funding at early stage
• You want the approval of technical feasibility
• You need to explore the technologies for your project
• You want to attract investors

Summary

Out of the three, only MVP is a functional product. However, it doesn’t mean that the other two strategies do not help make mobile app development success.  If you have an innovative idea, then POC will help you find out whether it is technically right to implement it. Prototyping, on the other hand, not only gives you a vision but also an ability to feel your end product. If you still have mixed thoughts, book a free consultation with our experts and know more in detail.