Market Fit

Market Fit

Market Fit Jonathan Poland

Market fit refers to the extent to which a product or service meets the needs and preferences of a target market. A product or service with strong market fit is well-suited to the needs and desires of its target audience, and is likely to be successful in the market.

There are several factors that can impact market fit, including the product or service’s features, pricing, and positioning in the market. It is important for companies to carefully research and understand the needs and preferences of their target market in order to develop products and services that have strong market fit.

There are several ways that companies can assess market fit, including conducting market research, gathering customer feedback, and analyzing sales data. By understanding the market demand for their products and the factors that contribute to their success, companies can make informed decisions about product development and marketing strategies.

In conclusion, market fit is an important consideration for companies looking to successfully bring products and services to market. By thoroughly researching and understanding the needs and preferences of their target market, companies can develop products and services that have strong market fit and are likely to be successful in the market. The following are illustrative examples.

Service
An airline with superior customer service may fulfill an underserved need if competitors have low customer satisfaction.

Digital Access
A mobile app allows customers to order a ride in a market where the tradition system for ordering a taxi was based on an ambiguous system of taxi stands.

Supply Shortfall
The only restaurant in a neighborhood that gets a reasonable number of tourists.

Lifestyle
Shifting lifestyle choices such as a growing demand for artisanal foods.

Trends
Fashion trends such as a sudden seasonal demand for a particular style of dress.

Problem Solving
Solving a pressing problem such as managed business software that removes the complexity of owning and operating your own platforms.

Pricing
An institution that provides a reputable, valuable and marketable education for low cost.

Terms
A mobile plan that offers unlimited bandwidth when all competing plans in a particular market charge for data.

Culture
The only flight from Tokyo to London that gets Japanese food right.

Usability
A car navigation system that people find a delight to use when competing systems have slow, cumbersome and poorly considered user interfaces.

Medical
Low impact shoes for people with a bad back.

Markets
Creating new two-sided markets such as an app that lets people rent out their apartment to vacationers.

Learn More
Risk Tolerance Jonathan Poland

Risk Tolerance

A risk is the possibility of an adverse event occurring, while a trigger is the root cause of that event.…

Brand Vision Jonathan Poland

Brand Vision

A brand vision is a statement that paints a picture of the future your brand. Brand vision is the long-term…

Professionalism Jonathan Poland

Professionalism

Professionalism is the practice of following the standards and expectations of one’s profession, organization, and role. It involves upholding the…

Sales Activities Jonathan Poland

Sales Activities

A sales activity is any action or task that a salesperson undertakes in order to achieve revenue. This can include…

Positive Risk Jonathan Poland

Positive Risk

Positive risk refers to the potential for achieving an outcome that is too good. While risk is often associated with…

Design to Logistics Jonathan Poland

Design to Logistics

Design for logistics involves designing products with the entire supply chain in mind, including manufacturing, packaging, shipping, warehousing, merchandising, and…

Delegation 101 Jonathan Poland

Delegation 101

Delegation is the act of assigning specific tasks and responsibilities to others, along with the necessary authority to complete them.…

Implementation Risk Jonathan Poland

Implementation Risk

Implementation risk refers to the potential negative consequences that a business may face as a result of difficulties or failures…

Value Proposition Jonathan Poland

Value Proposition

A value proposition is a statement that explains the unique value that a company offers to its customers. It is…

Content Database

Opendoor Technologies Jonathan Poland

Opendoor Technologies

Opendoor Technologies Inc. (OPEN) is a real estate technology company that simplifies the home buying and selling process, essentially buying…

Human Resources Jonathan Poland

Human Resources

Human resources is the department within a business that is responsible for managing and coordinating the people who work for…

Decision Automation Jonathan Poland

Decision Automation

Decision automation refers to the use of technology to automate the process of making decisions. This can be done through…

Mission Statement Jonathan Poland

Mission Statement

A mission statement is a statement of purpose that defines the goals and values of an organization. It is a…

Analytics Jonathan Poland

Analytics

Analytics is the practice of analyzing data in order to draw insights and inform business decisions. This can include analyzing…

Quality Requirements Jonathan Poland

Quality Requirements

Quality requirements refer to the specific standards that a product, service, process, or environment must meet in order to be…

Process Automation Jonathan Poland

Process Automation

Introduction: Process automation refers to the use of information systems to automate business processes in order to improve efficiency and…

Decision Trees Jonathan Poland

Decision Trees

Decision Trees are a popular machine learning algorithm used for both classification and regression tasks. They are part of a…

How does a plane fly? Jonathan Poland

How does a plane fly?

A plane flies due to a combination of four fundamental forces: lift, weight (gravity), thrust, and drag. These forces work…