market-fit

Vocabulary Word

Definition

'Market-fit' is a business term which means matching a product with a market. It's when a product correctly meets the demands or needs of a certain market audience.

Examples in Different Contexts

In entrepreneurship, 'market-fit' is the Holy Grail. An investor might remark, 'Your startup's success hinges on achieving a strong market-fit.'

Practice Scenarios

Marketing

Scenario:

We need to fine-tune our campaign strategy to reach our key audience effectively. Let's tailor it to the consumers' evolving preferences.

Response:

Sure, studying market trends can inform our campaign to create a more streamlined market-fit.

Tech

Scenario:

As we plan the next software upgrade, let's consider if there're any unmet needs we can cater to within our user base.

Response:

Agreed. Exploring user feedback can lead us to achieve better market-fit by including features our users really want.