Creating and scaling a product is not a simple, linear path. It is a journey that includes various stages: MVP, MMP, MLP, MDP, MMF, and MMR.
For most people, these abbreviations may sound confusing. But at Arounda, we know that each of them plays a crucial role in the lifecycle of a product. It helps a startup test the waters, understand its audience, and refine its offering. In this article, we'll explain what makes these stages different and why a business needs each of them.
These models focus on different aspects of product creation and marketability, and understanding them can influence a startup's success. Let’s examine each of them.
It is a new version of a product that allows a startup to conduct the validated learning about customers with the least effort. The key word in MVP is "viable", implying that the product is not just functional but has enough value to attract early adopters. The best time for an MVP is before investing in full-fledged product development.
With an MVP, startups can quickly measure the product's performance and learn what needs to change or improve.
MDP extends beyond the MVP and focuses on the product's desirability. Despite its minimalistic design, MDP delivers a satisfying UX and addresses customer's needs. MDP allows startups to understand not just what users need but what they want. It seeks to create an emotional connection by prioritizing aesthetics alongside functionality.
MMF represents a minor, standalone feature that provides value to the user and sells independently.
MMF delivers tangible value incrementally, rather than a fully realized product to market. MMF improves the cash flow and helps retain customers by meeting their evolving needs. Understanding the distinction between MVP vs MMF can guide a company's approach to launching new features.
MLP goes beyond just creating a viable solution.It aims to build a product that users will love. It combines the functionality of an MVP with a strong focus on UX and emotional connection. Despite its simplicity, users will appreciate and continue to use MLP.
Creating an MLP helps a startup generate early brand advocates, as users who love the product and are likely to recommend it to others. This early traction and word-of-mouth can be precious for a startup in its initial stages.
MMP (Minimum Marketable Product) is the simplest version of a product that one can actively sell. The MMP concept is similar to an MVP but places more emphasis on marketability.
MMR (Minimum Marketable Release) has the minimum possible set of features that validates the product-market fit.
MMR helps startups streamline their product development and go-to-market strategies. It ensures the product's primary value proposition is clear enough to attract potential investors.
It is quite easy to get lost in so many similar-sounding concepts.
That's why we created a comparison table with all the main information:
The MVP approach validates the core business idea quickly and cost-effectively. An MVP might be the most suitable approach if a startup works with limited resources or enters a highly uncertain market.
On the other hand, the MDP approach extends beyond functionality and considers the overall UX and the product's desirability. An MDP might be a better choice for a highly competitive market. It allows you to differentiate products, build a loyal user base, and achieve sustainable competitive advantage.
It's also worth noting that MVP and MDP are not mutually exclusive. Many successful companies start with an MVP to validate a core business idea. Then move towards an MDP as they refine their product and focus on desirability.
Choosing what version of the product to focus on can be a challenge when launching a startup. Here are some tips that can help you make the best decision.
Different markets have different expectations. If you enter a highly competitive market, you need more than an MVP to make an impact. It would be best to focus on creating an MDP, an MLP, or even a product with several MMFs to differentiate yourself.
So, an MVP might be a wise choice if you are entering a market with a new concept. It allows for quick market testing and iteration based on customer feedback.
If your users value functionality over aesthetics, an MVP or MMF might be the right choice. An MDP or MLP could be more appropriate if they value UX and emotional engagement.
An MVP or an MMF may need fewer resources, and thus may be a suitable choice for the companies that are just starting out. An MDP or MLP might require more resources due to the added focus on user experience, aesthetics, and emotional engagement.
If you plan to grow your user base slowly and steadily, focus on creating an MDP or MLP. However, if you aim for rapid growth, launching an MVP or product with MMFs and then iterating based on feedback might be a better strategy.
Remember, these approaches are not mutually exclusive. You can start with an MVP and evolve into an MDP as you refine the user experience. Then identify and develop MMFs to understand what users value most and work on making it an MLP.
In conclusion, the key is to stay flexible and iterate the product accordingly.
Understanding the concepts above is vital to navigate the complex journey of product development. Each approach focuses on viability, desirability, marketability, or emotional connections.
Choosing among MVP vs MDP vs MMF vs MLP is not a one-size-fits-all decision. It is a strategic choice, dependent on your specific business context.
The goal is to create a product that meets user needs, provides value, and enables your team to achieve business objectives. A phased approach could be the most effective strategy. It incorporates elements from each stage as your startup grows and evolves.
Arounda will help you make the right choice to increase your startup's chances of success. We can form your product vision and mission, define product strengths and weaknesses, and set business goals. Moreover, our experts will help you create an excellent UI/UX design from scratch or improve the existing one. Contact us to start the journey!
The difference between MVP and MMF is that MVP focuses on validating the product idea with minimal features, while MMF emphasizes the marketability of a feature. MMP combines both: the core functionality and marketable features of a product.
MVP is created to validate the product idea, MMP focuses on delivering a minor marketable product version, while MLP must deliver a satisfying user experience to be lovable.
Once the MVP has validated your core business idea, transitioning towards an MMP, MLP, or MDP can enhance your customer value. An MMP focuses on providing a sellable product with the minor yet critical features. At the same time, an MLP emphasizes creating products users need and enjoy using. An MDP goes a step further to provide delightful experience.
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