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GLOSSARY

Product-market fit

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Product-market fit is when a product satisfies a strong market demand, resulting in high customer satisfaction and sustainable growth.

What is Product-Market Fit?

Product-market fit is the sweet spot where your product meets the needs of a specific market segment exceptionally well.

Why It Matters

Having product-market fit is crucial for startups as it leads to customer satisfaction, growth, and market success.

Examples

  • Instagram achieved product-market fit by offering a simple way to share photos, meeting the demand for visual content.
  • Slack found product-market fit by providing a collaborative messaging platform for teams, addressing the need for efficient communication.

Related Concepts
  • Market Validation: Testing your product in the market to ensure it resonates with customers.
  • Iterative Development: Making constant improvements based on customer feedback to enhance product-market fit.

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