Market validation plays a crucial role in confirming the problem a business aims to solve. It involves conducting research and gathering evidence from the target market to ensure that there is a real demand for the solution that the business offers. It helps in verifying whether the problem is significant enough to warrant a solution and whether the proposed solution is viable and likely to be accepted by the market. Without market validation, a business might end up solving a problem that doesn't exist or isn't considered important by the target audience, as was the case with the kneepads for babies idea.
Need a pitch deck template to impress investors or potential partners? And why is it that the top-fu...
Download template