Minimum Marketable Product | Glossary

Definition

A Minimum Marketable Product (MMP), is a product with minimum functionality that meets the selected customer needs.

This is an idea of delivering small set of features quickly and enhancing the product incrementally which is considered to be an evolutionary delivery method as mentioned by Tom Gilb in 1998. Creating minimal product provides us with a number of advantages. The product is launched more quickly and time to market is reduced; functionality is released in a more timely manner. The product is developed at a lower cost and generates a higher return of investment. Improves the cash flow as payments are received earlier. Learning is accelerated, as we are able to listen and respond to the marketplace more frequently. MMP also improves risk mitigation, less money is lost if product underperforms and has to be withdrawn from the market early.

Further Reading

BOOK: Software by Numbers by Mark Denne and Jane Cleland-Huang

Agile Product Management with Scrum by Roman Pichler

Leadershift | Book series

Overview:

Why do some people perform better at work than others? This deceptively simple question continues to confound professionals in all sectors of the workforce. Now, after a unique, five-year study of more than 5,000 managers and employees, Morten Hansen reveals the answers in his ‘Seven Work Smarter Practices’ that can be applied by anyone looking to maximise their time and performance. Each of Hansen’s seven practices is highlighted by inspiring stories from individuals in his comprehensive study. You’ll meet a high school principal who engineered a dramatic turnaround of his failing high school; a rural Indian farmer determined to establish a better way of life for women in his village; and a sushi chef, whose simple preparation has led to his restaurant (tucked away under a Tokyo subway station underpass) being awarded the maximum of three Michelin stars. Hansen also explains how the way Alfred Hitchcock filmed Psycho and the 1911 race to become the first explorer to reach the South Pole both illustrate the use of his seven practices (even before they were identified). Each chapter contains questions and key insights to allow you to assess your own performance and figure out your work strengths, as well as your weaknesses. Once you understand your individual style, there are mini-quizzes, questionnaires and clear tips to assist you focus on a strategy to become a more productive worker. Extensive, accessible and friendly, Great at Work will help you achieve more by working less, backed by unprecedented statistical analysis.

Author:   

Morten Hansen

Published In:

30 January 2018