Session L1 133 (1)

What does "Product-Market Fit" mean?

• When a product or service meets the needs of its target market

• When a company makes a lot of money

• When a product has too many features for its target market

What is "market research"?

• Collecting and analyzing data on the target market and competitors to understand customer needs and preferences.

• Selling products to customers

• Making products without understanding what customers want

How can you measure if your product has Product-Market Fit?

• By collecting customer feedback

• By measuring sales growth

• Both A and B

Why is market research important?

• It helps companies understand what customers want and need

• It's a fun way to pass the time

• It's not important

What is a common way to gather customer feedback?

• By reading books about the industry

• By sending out surveys to customers

• By copying what the business's competitors are doing