Product-Market Fit is the most important milestone in the development of a new product or service.
Product-Market Fit marks the transition from a product idea through product development to an offering with good growth prospects.
Product-Market Fit refers not only to the product, but encompasses all relevant aspects of the marketing mix such as pricing, distribution and communication.
Originally, the term product-market fit was used primarily in the context of start-ups entering the market with a new idea. However, the methodology can also be applied to new products and services within an existing company.