The best example of a minimum viable product would be a food ordering app with the only essential features like browsing and selecting food from nearby restaurants.
A minimum viable product should be created once you have outlined the list of features and developed a strong understanding of targeted customers. MVP will fulfill the customer’s need and help you to gain valuable feedback that can be iterated to create the final version of the product.
Although both MVP and prototype are meant for the same purpose of seeking customer feedback in the earlier stages of product development, they differ from each other. A prototype refers to a mock-up of the product or service that is used to demonstrate and test the design and functionality. while MVP is a usable version of the product with core features that can be used as the foundation for the real product.