Bringing a software product to market can be daunting, especially for startups and small businesses. There are numerous factors to consider, including product design, development time, and budget. Two of the most popular development strategies companies can use to bring their products to market are MVP (Minimum Viable Product) and MMP (Minimum Marketable Product).
Think of MVP and MMP as two sides of the same coin. MVP is like a prototype, allowing you to test your product idea in the market with just enough features to validate it. On the other hand, MMP offers a complete set of features and a compelling design that appeals to customers.
In this blog post, we will examine the differences between MVP and MMP, their advantages, and the circumstances in which each strategy best suits your business.
According to Forbes, MVP (Minimum Viable Product) is a term coined by Frank Robinson and popularized by Eric Ries, founder of the Lean Startup methodology. MVP is a development strategy focusing on delivering a product with the bare minimum features necessary to satisfy early adopters. MVP's idea is to get customer feedback as quickly as possible and use that feedback to improve the product. MVP is a popular choice for startup companies and businesses that want to validate their product idea before investing significant resources into development.
MMP — or minimum marketable feature (MMF) — is a development strategy focusing on delivering a product with enough features and functionality to make it appealing to the target market. The goal of MMP is to establish a product that is marketable and provides value to customers. MMP is a popular choice for established businesses and large-scale projects.
A Minimum Viable Product approach is an excellent option for businesses looking to test a new product idea and refine it over time based on feedback. Here are some situations where using an MVP approach might make sense:
Read more about how to build your MVP efficiently with agile methodology.
An MMP approach can be a good choice for businesses that want to deliver a complete product to customers and compete in a crowded market. Here are some situations where an MMP approach might make sense:
This table provides a clear comparison of the main differences between MVP and MMP, helping you to choose the right strategy for your needs.
Main differences between MVP and MMP
MVP and MMP are two popular development strategies businesses can use to bring their products to market. MVP is a good choice for companies that want to validate their product idea quickly and at a low cost, while MMP is a good choice for businesses that want to bring a marketable product to market.
Therefore, businesses must choose wisely the right strategy that aligns with their specific needs and goals and help them stand out in the crowded software development market.
Check out Invisible Homes' MVP project, developed by Imaginary Cloud.
Content writer with a big curiosity about the impact of technology on society. Always surrounded by books and music.
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