Product-market fit can be measured by assessing customer satisfaction and retention rates. If customers are not only using your product but also recommending it to others, it's a good sign of product-market fit. Additionally, if your product is able to retain its users over time, it's another strong indicator. Market share, growth rate, and profitability are also key metrics to consider.
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Why do so many products fail? It's not because they are built or marketed poorly, but because they don’t delight customers. Read this book summary for...
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Most products fail because they don't meet customer needs better than the alternatives available. Therefore, achieving product-market fit is the key to creating a successful product. product-market fit means building a product that creates significant customer value and meets needs better than every alternative. The Product Market Pyramid is an actionable framework to achieve such product-market fit.