Mastering Product Market Fit

Transcript

1. MASTERING PRODUCT MARKET FIT SNEH PANDYA PRODUCT MANAGER SNEHPANDYA.COM @SNEHPANDYA18
2. PRODUCT MANAGER Wharton MBA PRODUCT STRATEGY APRESS PUBLICATIONS 2X BOOK AUTHOR NINJATALKS PODCAST HOST @SnehPandya18 snehpandya.com SNEH PANDYA MANTRA LABS
3. WHAT? The degree to which a product satisfies a strong market demand Your product is solving a problem that a significant number of people are willing to pay for!
4. WHY? 1. Understand customer needs 2. Increase in profits 3. Provides competitive advantage 4. Aids product development 5. Reduces production costs
5. THE PYRAMID OF PRODUCT MARKET FIT A framework that outlines the key components necessary to achieve product-market fit. It's a structured approach to building a product that resonates with your target market.
6. THE PYRAMID
7. Uncover the unmet demands and one-of-a-kind struggles of your audience TARGET CUSTOMER Be very clear on who your product is serving Launch your MVP and gather precious insights from your audience's feedback Test your value proposition with a minimum viable product to gain validation THE PYRAMID EXPLAINED UNDERSERVED NEEDS UX FEATURE SET Craft your compelling value proposition or key differentiator VALUE PROPOSITION
8. Iterating and maintaining a strong product-market fit 1. Adapting to a Changing Market / Customers 2. Continuous Improvement for Customers 3. Reducing Risks & Mitigating Failures 4. Building a Strong Foundation
9. SATISFIED YET?
10. OPPORTUNITIES High Importance Low Satisfaction High Importance High Satisfaction Low Importance Low Satisfaction SATISFACTION FRAMEWORK COMPETITIVE MARKET NOT WORTH PURSUING
11. KANO MODEL A powerful tool for understanding customer satisfaction and prioritizing product features
12. KANO MODEL
14. “Focus on delivering value and helping people, everything else will follow.”
15. THANK YOU! Want to work on exciting ideas? Upcoming events & networking? Open to invitations and consulting discussions! SNEH PANDYA @SnehPandya18 snehpandya.com