Minimum Viable Product (MVP) is an early product available to the target users that help the product team to solicit user feedback and learn from it. During the product development process, the team continuously communicates with the market through MVP to obtain user feedback, reducing the risk of the final product not meeting market demand.
The Minimal Marketable Product (MMP) is a product with the minimum but appropriate functions required to satisfy the basic needs and experience of the users. MMP is an important product development planning method to shorten time-to-market, capture market shares faster, and get early feedback from real users after the product release.
In practice, user stories are categorized as "make the product work," "make the product better," "make the product releasable," and "these will take the product to the next level, but we may not have time to do it." This method facilitates the planning of user stories delivered at each product stage to meet the MVP or MMP attributes.
At Titansoft, we believe that helping clients roll out MVPs to product lines can quickly gather feedback from the market or users. It also allows the team to learn and have the product directly validated by the market, rather than wasting time planning on paper. An MVP certainly won't be perfect, but it brings valuable information to the product team.