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Not meeting customer needs can lead to product failure as it may not provide more value than its alternatives. This can result in loss of market share, decreased sales, and ultimately, business failure. It's crucial to achieve product-market fit, which means creating a product that significantly meets customer needs better than any alternatives.
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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.
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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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