Product/Market Fit

What is Product/Market Fit?

Product/market fit means being in a good market with a product that can satisfy that market. Getting to product/market fit is the first step on a path to build traction for your startup.

Product/market fit is a common concept in product management and is described as when a startup successfully finds a set of customers to serve with their product.

Eric Ries describes what product/market fit looks like:

“When you see a startup that has found a fit with a large market, it’s exhilarating. It is Ford’s Model T flying out of the factory as fast as it could be made, Facebook sweeping college campuses practically overnight, or Lotus taking the business world by storm, selling \$54 million worth of Lotus 1-2-3 in its first year of operation”.

“Getting the product right means finding product/market fit. It does not mean launching the product. It means getting to the point where the market accepts your product and wants more of it.” Fred Wilson

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