Reasoning #42
## Minimum Marketable Feature (MMF)
In Software by Numbers, Mark Denne defines MMFas:
“The Minimum Marketable Feature is the smallestunit of functionality with intrinsic market value.”
In other words, the MMF is a real feature thatprovides tangible value to customers. It addresses a specific need, solves acertain problem, and is of high quality and usability. It is a feature that canbe marketed, sold and shipped.
An example of MMF is releasing an initial productwith core features and then incrementally releasing additional features alongthe way as opposed to building a massive product with tons of features all atonce only to later discover that over 60% of features built are never or rarelyused. So the MMF is all about focusing on high-value features, reducing time tomarket and launching products faster to increase ROI.
## Minimal Viable Product (MVP)
In Lean Startup, Eric Reiss defines MVP as:
“The Minimal Viable Product is that version of anew product which allows a team to collect the maximum amount of validatedlearning about customers with the least effort.”
In other words, the MVP is about validatedlearning using the least amount of time and money. It is about answering thequestion: Are we building the right thing? It is targeted at early adopters ora subset of customers with the main goal of obtaining feedback on the potentialviability of the product hypothesis. The MVP might not be a product at all. Itcan be a simple prototype as long as it helps acquire the relevant knowledge orraises key risks.
An example of an MVP is ad campaigns to productsthat do not exist yet. The campaigns simply directs potential customers tolanding pages with info about the product. Metrics track interest of potentialcustomers in the product and which features are receiving the most attention.These metrics help validate the hypothesis around certain features.
So the MVP helps a team discover the potentialMMF to build.
https://mp.weixin.qq.com/s/z_LQc10MpUdTk40HTsXmgQ
In Software by Numbers, Mark Denne defines MMFas:
“The Minimum Marketable Feature is the smallestunit of functionality with intrinsic market value.”
In other words, the MMF is a real feature thatprovides tangible value to customers. It addresses a specific need, solves acertain problem, and is of high quality and usability. It is a feature that canbe marketed, sold and shipped.
An example of MMF is releasing an initial productwith core features and then incrementally releasing additional features alongthe way as opposed to building a massive product with tons of features all atonce only to later discover that over 60% of features built are never or rarelyused. So the MMF is all about focusing on high-value features, reducing time tomarket and launching products faster to increase ROI.
## Minimal Viable Product (MVP)
In Lean Startup, Eric Reiss defines MVP as:
“The Minimal Viable Product is that version of anew product which allows a team to collect the maximum amount of validatedlearning about customers with the least effort.”
In other words, the MVP is about validatedlearning using the least amount of time and money. It is about answering thequestion: Are we building the right thing? It is targeted at early adopters ora subset of customers with the main goal of obtaining feedback on the potentialviability of the product hypothesis. The MVP might not be a product at all. Itcan be a simple prototype as long as it helps acquire the relevant knowledge orraises key risks.
An example of an MVP is ad campaigns to productsthat do not exist yet. The campaigns simply directs potential customers tolanding pages with info about the product. Metrics track interest of potentialcustomers in the product and which features are receiving the most attention.These metrics help validate the hypothesis around certain features.
So the MVP helps a team discover the potentialMMF to build.
https://mp.weixin.qq.com/s/z_LQc10MpUdTk40HTsXmgQ
