What is a minimum lovable product (MLP)?
A minimum lovable product (MLP) is a product or feature that is very slimmed down in terms of both design and engineering effort, but that still manages to create a strong positive response from users. It is often done as the next step after feedback has been received on an MVP.
If the MVP was a product or feature, and the feedback received was that user would like it, but that what was developed was not quite enough, then the next step is to build the minimum lovable product (MLP).
User story mapping is a common and effective technique for collaborating with team and stakeholders to find the perfect next iteration, going from MVP to MLP. It is a core part of the Refinement step of the product management process.
Another aspect of making a successful MLP, is that the feature being worked on, is a feature that can truly generate excitement, or "love". If that is not a possibility, then investing further in the feature, beyond the MVP, is less likely to make sense. The Kano model offers a good way to assess whether this could be the case.