Minimum Marketable Product
Beyond the MVP for a successful product launch
A product with essential features ready for market launch and customer feedback
GOAL
To launch a basic product that generates value and provides insights for improvement
TOPIC:
DURATION:
DIFFICULTY:
Medium
In the crowded landscape of software development, launching a new product can be a daunting task. The traditional approach, which involves developing a complete product before introducing it to the market, is often time-consuming and resource-intensive, and risks resulting in a product that does not meet the actual needs of customers.
To overcome these challenges, many companies are adopting a more agile and customer-centric approach: the Minimum Marketable Product (MMP).
What is an MMP and why is it important?
While the Minimum Viable Product (MVP) focuses on validating an idea, the MMP goes further, providing a basic product that can be commercialized. It is a product with a minimum set of features necessary to generate value for the customer and obtain useful feedback.
Why choose the MMP?
Reduced development time: The MMP allows you to launch the product on the market more quickly, allowing you to obtain valuable feedback from customers before investing in further development.
Reduced costs: By focusing on essential features, the MMP reduces development costs and allows for optimal use of resources.
Better understanding of customer needs: Through user feedback, it is possible to refine the product and adapt it to market needs.
Increased probability of success: The MMP allows you to reduce the risk of failure, as it is based on real data and customer feedback.
How to create an effective MMP
Identifying core features: What are the essential features that the product must offer to be considered useful by customers?
Defining priorities: Establish the order of importance of the features, focusing on those that generate the most value for the customer.
Developing a prototype: Create a visual representation of the product to show how it will work.
Testing with users: Gather feedback from a group of representative users to identify areas for improvement.
Iteration: Use the collected feedback to refine the product and make it increasingly responsive to customer needs.
Challenges and considerations
Resistance to change: Convincing the team to adopt an agile approach may take time and effort.
Scarcity of resources: Creating an MMP requires careful planning of resources.
Alignment of objectives: It is important to align the objectives of the MMP with long-term business objectives.
The MMP is a winning strategy for developing new products. It allows you to reduce risks, accelerate time-to-market, and increase the chances of success.
