What is the importance of identifying target customers in the Lean Product Process?

Some common reasons for products failing to achieve product-market fit include not adequately understanding the target customer's needs, not creating a unique value proposition, not defining a minimum viable product feature set that meets customer needs, and not testing the product with customers. Other reasons could be not separating the problem space from the solution space, and not identifying the right customer segment.

The content does not provide specific examples of products that have achieved product-market fit using the Lean Product Process. However, many successful products in the market likely used a similar process, even if not explicitly named as such. The Lean Product Process is a common approach in product development, particularly in tech and startup environments.

Some strategies to shortlist the Minimum Viable Product (MVP) feature set include identifying the target customers, understanding their underserved needs, and defining the product's value proposition. It's important to keep the problem space (customer needs) separate from the solution space (product design). Multiple solutions can solve each problem in the product space. The MVP should include only those features that address the key needs of the target customers and differentiate the product from existing alternatives.