In the world of agile development, numerous concepts and terminologies govern the way products are created, launched and iterated. Four such concepts are MVP (Minimum Viable Product), MMP (Minimum Marketable Product), MMF (Minimum Marketable Feature) and PSI (Potentially Shippable Increment). Let's take a closer look at each of these concepts:

1. Minimum viable product (MVP)

The MVP is a version of a new product with just enough features to satisfy the first customers and provide feedback for future product development. It is the simplest version of the product that still provides value to the user and solves a specific problem. The goal of an MVP is to test hypotheses about the product, reduce risk, and avoid developing products or features that customers don't want.

2. Minimum marketable product (MMP)

The MMP refers to a product that has the minimum number of features needed to make it valuable to customers while also being marketable. Unlike an MVP, which is about proving or disproving assumptions, an MMP focuses on getting a product with compelling value to market as quickly as possible. It is often the first version of a product that you would have no qualms about marketing to your target audience.

3. Minimum marketability criterion (MMF)

An MMF is the smallest feature set that has value in the market on its own. Each MMF adds a valuable enhancement to the product, providing value to the customer while maximizing return on investment for the company. MMFs help prioritize development by allowing teams to continuously deliver new features and improvements without having to wait for the finished product.

4. Potentially Deliverable Increment (PSI)

In the Agile Scrum framework, a PSI is a package of work that is deliverable at the end of a Sprint and is of sufficiently high quality to be delivered to the customer. This does not mean that it has been delivered, but that it could be delivered because it meets the definition of /"Done/" – it is tested, validated, and ready to be delivered.

In summary, these concepts each serve a specific purpose within Agile development and guide the way teams build, test, and deliver value to their customers. They reflect the Agile mindset of iterative development, continuous feedback, and adaptability, and help teams focus on delivering value incrementally and learning along the way.

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