When it comes to developing mobile apps, there are two main types of MVPs: Minimum Viable Product and Maximum Viable Product. But what’s the difference between them? And which one is right for your business?
In this blog post, we’ll break down the differences between MVP vs MMP, and help you decide which one is best for you. First of all, MVP and MMP are both about product development.
What Is an MMP? (Minimum Marketable Product)?
The minimum marketable product, also known as the MMP, is the most stripped-down version of a product that still provides some benefit to the end-user and is commercially viable.
It is the epitome of simplicity in the sense that it steers clear of the “new shiny object” pitfall and offers just those features that cater to the requirements of early adopters. In the same way, it provides the company with a value that can be quantified.
What Is an MVP (Minimum Viable Product)?
The term “minimum viable product” (MVP) comes from the book concept “The Lean Startup,” which places emphasis on the role that learning plays in the creation of new products.
For instance, in order to determine whether or not it is possible to use advertisements as the primary source of income, you may release an early product version that contains phony advertisements and then monitor the number of times users click on these advertisements.
MMP vs MVP — What’s The Difference?
The concepts of MVP and MMP are connected to one another but are not the same. The only thing that the two have in common is that they both just reflect a small portion of what the finished product will finally be like
When deciding the method of development to follow, the first thing you should think about is your target audience, particularly the challenges they have and the solutions that may be offered to those challenges.
Typically, the first step for a startup is to come up with a concept that resolves the problem, then determine who is affected by the issue before developing a product that addresses the issue.
Experiment, testing, evaluation, and focusing on the problem at hand as needed are all key steps to take at this point of the process. Developing a minimum viable product (MVP) may be the best option at this time to verify your ideas.
It is also possible for it to offer value to your proposal in the early phases, therefore allowing you to have a product and business plan that is more strong.
Why Should You Choose MVP?
MVP helps a business invalidate its concept and move on to evaluate comments from early customers in order to make it more user-friendly. It provides a wide range of benefits, including:
- Stakeholder/investor buy-in that works.
- Putting business concepts to the test
- Checking for market demand
- Formulating a monetization plan
- UX and usability testing
- Cost-efficiency
Why Should You Choose MMP?
An MMP is a product with the simplest features which has been made more presentable for market introduction. It has all of the advantages of an MVP, including:
- Lowering or reducing the hazard
- UX functionality testing
- Evaluating market demand
- Verifying the monetization plan
- Getting clarity and approval for the product concept
- Cost-effective
- Quicker market release
Which One Is The Better Approach?
From Web Applications To Mobile Applications
Let’s say you already have a successful business, but you realize there is room for improvement in the way you provide your clients with the goods and services they purchase from you.
Users put significant pressure on even businesses that currently provide customer support to users via a web app, demanding the users a mobile app. In this specific case, an MMP may be the most appropriate strategy to take.
Since you are already familiar with your target demographic, the way in which your existing service or good satisfies client requirements, and the industry in which you operate, it is no longer necessary for you to demonstrate that your marketing strategy is profitable.
The Combination Of MVP and MMP
Creating a development strategy that includes both an MVP and an MVP is another alternative. The public market for mobile products and services has become saturated throughout all sectors and industries, and many businesses are beginning to feel the pressure to join the mobile revolution.
What if the innovation that you’re witnessing in the market for your business implies that the mobile device has to be the starting point for customers to access your goods and services? And what if making the switch to mobile meant that you were able to reach an altogether new audience of users or potential customers? It’s possible that having an MVP with an MMP would make the most sense.
If you are navigating substantial change to the product or content, services design models, pricing, or delivery methods, the most sensible way is to use a minimum viable product (MVP). You may get a better direction for shifting your existing clients into a new arena such as mobile by testing and learning with a minimum viable product (MVP). At the same time, you can make sure that you attract the attention of and gain committed mobile users.
Bottom Line
When it comes to solutioning design, you have several options available to you. Depending on what your business goals are, you may find that one approach is better than the other. In some cases, it might even make sense to use a combination of MVP and MMP. The only way to know for sure is to experiment and see what works best for you and your business.
