Factors like user retention, buyer personas, and more can be indicative of a product’s market fit.
Product-market fit or satisfying an unmet demand in a favourable market is an important component for companies to succeed. To achieve a successful product-market fit, build products that satisfy the needs of customers. Ensure customers become aware of the product’s value and spread the word about it.
Brands must maintain product quality for new customers to achieve a good product-market fit. Utilise panel research data to identify the target audience and gather feedback around product performance, benefits, improvements needed and more.
This data can help companies find the value proposition of their product and determine if it is a market fit. Businesses that achieve the product-market fit should replicate the process, to maintain the product’s value in the market.
[4 minute read]