Product-market fit is a term used to describe the degree to which a product satisfies a strong market demand. It is the point at which a companys target customers are buying, using, and telling others about the companys product in numbers large enough to sustain that products growth and profitability. According to Marc Andreessen, who is often credited with developing the concept, product-market fit means finding a good market with a product capable of satisfying that market. Achieving product-market fit is important because it helps identify whether a product solves a real problem that customers are facing. Here are some key points to keep in mind:

• Importance: Product-market fit is important to determine before launching a product to better position it in front of those looking for it. It creates opportunities for company growth as well as upselling a product to existing customers.

• Measurement: No single set of metrics can tell any business when it achieves product-market fit. However, there are some signals that a company is heading in the right direction with its offering, such as surveying potential customers or allowing them to test the product.

• Achievement: Finding product-market fit may look different depending on the product, but it is a shared responsibility across the company. Sales, business development, support, finance, and all other departments help the company reach this important milestone.

In summary, product-market fit is a process that incorporates a business goals for driving sales with the target audiences engagement and feedback to help the company. It is a shared responsibility across the company and is important to determine before launching a product to better position it in front of those looking for it.