Product-market fit: The most crucial thing you must have nailed out of the gate!

However, if there is only one thing you must do before launching a product, it is to ensure the product-market fit.

So, why is product-market fit so critical?

Product-market fit refers to a situation in which a company’s target customers buy, use, and tell others about the company’s product in sufficient numbers to sustain the product’s growth and profitability.

  • Rate of churn
  • NPS score
  • Rate of growth
  • Share of the market
  • Word-of-mouth (If your consumers tell others about your product, they effectively become sales agents for your products.)
  • Calls from the media or industry analysts become increasingly often, and coverage of your product and company expands.
  • Very disappointed;
  • Somewhat disappointed or
  • Not disappointed at all (it really isn’t that useful).

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SolveoCo

SolveoCo

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Solveo is a strategic design & innovation consultancy that empowers companies to deliver breakthrough solutions. Reach out at www.solveo.co