Product Market Fit, a typical buzzword in the startup world.
It’s very common on startup indeed. Always looking for the Product market fit. “the must-have”, this product addresses the ultimate demand of the market. Something that alternative product cannot provide. A product market fit is the one that if you pull it out of the market, you will disappoint majority (if not all) of your customer population – hence, the must have. Product market fit is so good that your customers becomes the salesperson and $$ are just piling up. For startups, this is what they are vying for to increase the odds of success. That’s probably how interviewer kept on peppering the questions with this term – weather the product that you have is already a product market fit.
You can find the rest of my opinion in this video:
I started a *Marketing Support* Playlist on my YouTube channel where I answer some of the latest questions on Reddit (r/AskMarketing) with plans to expand further on other social forum channels.
From R/AskMarketing
Posted byu/sensei_mike
4 days ago
” The term “product market fit”
Hi Guys,
Want to get your opinion on this term…
I’ve been working in marketing for a little over 8 years now, mostly with big brands nationally or internationally and I went to an event recently at a startup incubator where they interviewed the CEO of a pretty big company now, about how he started the biz and scaled up. The interviewer kept asking about things pertaining to “product market fit”, which, while I understood what she meant, sounded super strange to me- I never heard the term before in my life.
I feel like it is a nice way of saying “invent stuff and throw it into as many markets as possible until someone likes it and the market you got lucky in with success, that’s the one to target” which seems wildly inefficient to me.
Shouldn’t these startups be more strategic and understand consumer needs first and invent from there? (rendering the phrase “product market fit” redundant)
Wondering what you guys think! ”
ABOUT MARKETING SUPPORT
I started a *Marketing Support* Playlist on my YouTube channel where I answer some of the latest questions on Reddit (r/AskMarketing) with plans to expand further on other social forum channels.
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