Meeting Customer Expectations
What is Product-Market Fit?
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.
Product-Market Fit: A CX-Solution
Product-Market Fit is a Customer Experience (CX) Solution from TEMA-Q
Who is Product-Market Fit for?
Product-Market Fit is for companies that:
Investors ( venture capital for start-ups)
Product developers, product owners
Why do you need Product-Market Fit?
Your company offers a very new product with new possibilities and added value – or you enter a very new market
In contrast to other products or other markets, your company experiences a reluctance from the customers to buy the new products
The reasons are unclear, but it is assumed that the products do not fully meet the requirements of the customers
A Product-Market Fit survey is intended to
- determine how the new product can be made more attractive for customers
- determine the needed adaptations for the accelerated increase of sales figures
What is the added value from Product-Market Fit?
Accelerate the growth phase
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