Marc Andreessen defined Product-market fit as finding a good market with a product capable of satisfying that market. Marc is often credited with developing the PMF concept
In other words, it is the point at which a product satisfies a strong demand within its intended market, resulting in widespread customer adoption, engagement, and satisfaction.
Generally, PMF is characterized by many factors which could be Customer Demand, Usage and Adoption, Customer Satisfaction, Engagement and Retention, Competitive Advantage, etc.
Many startups often focus on reaching this stage before scaling their operations and investing heavily in marketing and expansion efforts.
If you remember the early days of Netflix, how they originally started as a DVD rental service but then achieved PMF when they transitioned into a streaming platform.
They identified a growing customer demand for convenient and on-demand access to a wide variety of movies and TV shows.
And then capitalized on the shift toward online streaming.
It’s not just Netflix as a startup that has hit PMF, other brands like Apple, Tesla, Lemlist, Nike, Airbnb, Slack, Meta (Instagram, Facebook, Whatsapp), Paypal, Superhuman, Stripe, Supreme, and Linktree amongst many other hundreds of startups have also hit PMF.
It’s my belief, however, for PMF to happen, the Product and the Market must be fitted together. Sounds cliche, however, that fitting is like a bowl of spices — filled with different spices — all mixed and called Brand Connection.
Many of these brands I mentioned went viral, people loved their products, and till now, their core customers are true stans; they have a strong brand connection.
This means that if Virality is always engineered from the get-go, so also, Brand Connection is engineered from the get-go too.
The original content of the note was published on Medium.com. To read the full note visit here
