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Product-Market Fit: Questions Product Managers Need to Ask
Product Management is all about finding the answers to questions. To make sure your product won’t completely fail in the market, there are some key questions you have to ask.
- Does anyone want this product?
- Would they be willing to spend money on it?
- Does it solve a real problem, or add real value?
- Does it offer something different to our competitors?
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What Exactly is Product-Market Fit?
Product-Market Fit, in simple terms, is whether or not your product is needed.
When making products, you always have to be solving a problem, making something easier, or making something better. It’s fine if other products do the same thing as yours, if you’re bringing ...
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How Do I Know if I Have No Product-Market Fit?
There are some warning signs:
- Reduced market size
- Low response from customer base
- Negative press reviews (or no interest from the press)
- Weakening word of mouth
- High visibility, but no engagement.
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Verifying The Business Model
This pre-launch phase of the customer discovery process involves answering three critical questions:
- Have you found a product-market fit? You have to be sure your product is a good fit for the market. Is this something a lot of people need? How well does it solve...
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