Know Your MVP?
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This document discusses the concepts of Minimum Viable Product (MVP) and Minimum Marketable Product (MMP). It defines MVP as the smallest version of a product that allows for validated learning through customer feedback, while an MMP is the smallest product with features addressing customer needs and creating a desired experience that can be marketed and sold. The document compares MVPs, which are used for experimentation, to MMPs, which implement features customers want for the core product. It advises using MVPs to inform the development of MMPs and provides examples of each.
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Know Your MVP?
- 1. Know Your MVP - Shaun Jayaraj Credit: Shree Damani
- 3. What is MVP • Smallest version which allows for maximum amount of validated learning • Tool to validate assumptions and understand the target market better • Not the smallest version of your product which you release to your users • MVP is about discovery not product
- 4. Validated Learning Photo credit: Pittaya Sroilong, Flickr
- 6. The right way to do it
- 7. An even better way to do it
- 8. What is MMP • Minimum Marketable Product is the smallest possible features set that addresses user’s needs and creates desired user experience • MMP can be marketed and sold • Focus on feature which makes the real difference to the users •
- 9. Comparison between MVP and MMP • Experiment • Core Product • First step in product management • MVP Learning feeds into MMP • Identify what user wants • Implement what user wants • No real code required • Launch preparation activity like marketing • Example: Dropbox video • Eg. iPhone without copy paste
- 13. See next slides for the interface options
- 19. Using the two together - MVP & MMP
- 20. Advantage of using MVP with MMP • Build product with feature your customer want to use • Shorter TTM • Risks mitigation strategy • Early Monetization oppurtunity • Identify list of earlu adopters
- 21. Exercise: Online auto rickshaw booking system Photo credit: Roshan Vyas, Flickr
- 22. Questions?
- 23. Thank You! Contact us: Shaun (Shanmuganand) Jayaraj sjayaraj@thoughtworks.com
Editor's Notes
- IntroduceWebVAN – deliver in 30 mins – whole supply chain invested before launching service – 1.2 billionPeople would rather just buy at lunch and have it delivered laterWhat went wrong with WebVan
- Buffer.com back log of tweets and schedule which tweet goes out at which time. (created signup page –and got 2500 people) – Added and extra commercial model. - Reduced by still got 500 email address.
- Buffer.com back log of tweets and schedule which tweet goes out at which time. (created signup page –and got 2500 people) – Added and extra commercial model. - Reduced by still got 500 email address.
- Don’t forget to update contact details ;-)