The worst marketing decision you can ever make?
Building a product nobody wants or nobody needs. Stop asking “can this product be built?”, but ask instead “should it be built?” And “can we build a sustainable business around this product?” Rather than pushing a product down the throats of customers (aka marketing since the fifties), involve your customers in the process of developing your products. Stop thinking that products are static. Start working with MVPs and iterations to build a product that your customers love.
Forget about the rat race to be the first to market.
Was Apple the first to market with an MP3-player or Smartphone? They were late. They were the first to really understand what customers actually wanted with devices. Those years brought them billions! Speed is only important if you know where you are going.
Product Market Fit is a feeling, but backed with stone-hard data and information. Picture this:
You are receiving more and more positive feedback, 40+% of surveyed customers indicate that they would be “very disappointed” if they no longer have access to product. Your business model’s value proposition, customer segment and channels are fixed without requiring additional pivots. You’re enlarging your user base on monthly basis profitably. EUREKA, you have found PMF.