Conduct product-market fit research

Business Benefits

Determine the perfect price point and marketing strategy to achieve the ultimate “product-market fit” and benefit from increased sales and product visibility.

Determine your target customer by imagining which demographic will use this product and what they will use it for.

Split your audience into different marketing segments to test different marketing strategies with different demographics to see which resonate best with your audience.

Figure out customer needs by determining the “convenience factor” - how does your product make life easier?

For example, does your product keep floors clean or save your customer time getting ready in the morning? Your target market is probably people who work long hours and don’t spend a lot of time at home.

Specify your viable product features that set your product apart from the competition.

For example, if you make camping gear and your product is 25% lighter and ideal for backpackers - that would be an ideal test demographic to market to.

Create your prototype and test it with your test customer market and segmented audiences

For example, creating a survey with “this or that” (such as different colors, fonts, sizes) will give you an idea of which options resonate most with your customers

Identify feedback patterns and listen to customer’s needs (and make it happen!)

For example, if your customers loved the colors but thought the design was too bulky or difficult to use, you may want to take a look at your design again and build another prototype for testing.

Create a A/B test market to conduct further tests on the best way to market your product to your audience

For example, create different marketing campaigns with different headlines, images, and fonts to figure out which marketing strategy resonates best with your target audience.

Pay attention to your product and feedback (even if the data surprises you)

For example, if your customer’s feedback says that the product is difficult to use or stopped working after a few uses, you may want to look into sourcing more durable materials for fabrication…

Think outside of the box when it comes to product usage

For example: If your product can be used and then upcycled into a gadget that can be helpful around the house - let your customers know! Audiences look for versatile products that can be used in a variety of different ways.

Last edited by @hesh_fekry 2023-11-14T11:35:41Z