Minimum Loveable Product (MLP) is an alternative to Minimum Viable Product (MVP).
MLP should be good enough so that users could fall in love with it (but still as minimal as possible). It’s larger and more polished than MVP, and it takes more time to develop.
MVPs are good for searching opportunities but they might be misleading for evaluating a product. e.g., if someone doesn’t like burnt pizza, that doesn’t mean they don’t like pizzas—only burnt ones.
MVP is good for searching opportunities in unknown market; MLP is good for exploiting opportunity if the market exist and you are sure a niche exists.