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Sean Ellis says in Hacking Growth about the Product / Market Fit Survey: “One caveat: the Must-Have Survey isn’t recommended much beyond the stage of determining whether you’ve achieved core product value. For one thing, once your growth has taken off, it’s not a good idea to even suggest to your customer base that the product might be discontinued by asking them how they’d feel if it were no longer available. Can you imagine the panic if Facebook sent its users a survey suggesting it might go away?” I work with a b2b wholesaling / manufacturing company that has been in business for 40+ years with millions in revenue. While the company has obviously grown, I’m not actually positive all this growth has been from a secure product / market fit (as measured by a 40% Very Disappointed rate). The company is in a commodity market to start, with most competitors offering the same or very similar services. It appears that most of the growth has been driven by building relationships, established industry presence (40+ years in business), and other more ‘traditional’ methods than a rigorous product / market fit. So the question is, how should I conduct a product / market fit survey without scaring people that the company could go out of business? Would love your feedback.
In this article, I look at Product/Market Fit from a mobile perspective and make some suggestions on how to assess the level of PMF for a mobile app, with reference to some of the articles from Sean Ellis, Brian Balfour, Andrew Chen, Marc Andreessen and Casey Winters on the topic of Product/Market Fit.
<p>Marc Andreessen explains the term as follows: Product-market fit means being in a good market with a product that can satisfy that market. Many people interpret product-market fit as creating a so-called minimum viable product, that addresses and solves a problem or need. It is a fundamental step that must be achieved both in startups and new portfolio products for enterprise companies before adopting a growth process.</p>