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Product-market fit or PMF, is the alignment between a product and its target market’s needs and preferences. PMF is achieved when a product satisfies demand through solving a specific problem or adding value to it’s target audience.
For exmaple, Airbnb achieved PMF by offering a platform for travelers seeking unique and often cheaper accommodation, disrupting the traditional hospitality industry. Their ability to connect hosts with guests seamlessly, resulted in widespread adoption and profitability. This fit is characterized by high customer satisfaction, strong retention rates, and organic growth, indicating that the product fulfills a genuine market need in a sustainable way.
