An MVP (Minimum Viable Product) is the smallest thing you can think of that will get customers to test and give feedback. It serves to validate the product’s goals with as little effort as possible and critically focuses on the core functionality to make sure the idea works effectively for its main purpose. Our main goal at this point is simply to get the feedback.
An MMP (Minimum Marketable Product), on the other hand, focuses on improvements that are necessary to commercialize the product and gain feedback. Instead of incorporating everything at once, the focus is on delivering a minimally refined product ready for release. Nevertheless, it still serves to receive feedback from users.
To put it simply, the MVP is the starting point, where you build a basic version to test and learn from, while the MMP is the next step that focuses on making the product more complete, refined, and ready to be sold to a wider audience.