As a startup, you have two options when it comes to the applications and products that you develop. You can go with a minimum viable product (MVP), or you can choose a minimum marketable product (MMP). However, it can be difficult to decide when each of the two should be used without having more information about what the terms mean.
What Minimum Viable Product is Designed For
MVP development is typically used as a learning option. It lets you test an idea that you’re considering by taking an early version of the product and offering it to target customers and users. This lets you collect data about the product and learn from it to move on to a more advanced version of the product before it goes to market.
As an example, you could test whether using ads as revenue is a good idea by releasing an early version of the product with fake ads and then checking to see if people click on them and how often they do so.
MVP development can be considered a risk reduction tool. By doing testing of certain facets of a product, you can ensure it’s in pristine condition before it hits the larger market. You know before you put out an app or product that people appreciate its features and use it the way you desire.
All About the Minimal Marketable Product
MMP development is entirely different from MVP and is based on the idea that “less is more.” With an MMP, the product has the smallest possible feature set that users will need to create the best experience for customers. This ensures that it can be sold and marketed successfully.
With MMP development, it reduces the time it takes to bring a product to market. Instead of spending extra time on robust additional features, it can be launched quickly with just the basics needed. It assumes that adding extra features may complicate the product and add little value to those who use it.
Choosing Between MMP and MVP Development
The first thing to take into consideration when choosing a development option is who your users are, what their problems are, and how those problems can be alleviated. Startups typically start with an idea that is aimed at a problem, then identify who has the problem, before building a product that solves the issue.
Experimentation is important at this stage, along with testing, validation, and narrowing the focus as needed. MVP development can be the best choice at this stage to validate your ideas. It can also add value to your proposition in the early stages, so you have a stronger product and business plan.
Both MVP and MMP development have their place in the world, and Deventor can help you with either of the two or a combination of both. Our developers have experience with a wide range of projects and will be happy to help you select the right solution for your needs. Reach out to us today so we can get started.