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What are MVP and MMP?

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What are MVP and MMP?

Minimum viable product (MVP) is a Lean Startup concept that stresses the impact of learning while performing product development. This allows one to test and understand the idea by getting exposed to the initial version for target customers & users. To accomplish this, one has to collect all the relevant data and learn from that collected data. The thought behind MVP is to produce the product, to provide access to the users, and to observe how the product is used, perceived, and understood. This will also provide more insight towards what the customers’ or users’ needs are.

The MMP (Minimal Marketable Product) refers to the description of the product, which will have a minimal number of features that address the requirement of the users. The MMP would help also help the organization reduce the time to market