Achieving Product-Market Fit in Europe

Achieving Product-Market Fit in Europe

The Decision of entering a new market brings along with it the same old recipe: Positioning and Market Segmentation, Competitors, potential partners. Each new market is a new set of political, economic, social, technological, environmental and competitive rules. The goal: to build an Unique Value Proposition and therefore obtain a sustainable competitive advantage over the long term. 

In the ”startup jargon” we call it a Product- Market Fit. To get on to the bandwagon the startup needs to scale customer adoption,  test distribution channels,  streamline their business model and discover their revenue/unit economics to find profitable customer niches. Reaching that stage involves measurement and never-ending fine-tuning, including several metrics that are not available before an MVP has been reached. That’s when you need to start paying attention to KPIs (Key Performance Indicators). 

On the other hand, from a strictly business point of view, startups need to assess the market size, focus on hiring key team members, set up operational processes like sales operations, and improve product/service while testing additional features.  When the startup reaches this stage, it can be described as the starting of Scaling UP.

In the scope of the Softlanding Europe, 2023 Class, on these coming weeks we will be working on the Product-Market Fit with Weekly Deliverables focusing on Internationalisation (Week 1);  PEST Analysis (Week 2);  Segmentation (Week 3): SWOT Analysis (Week 4); Marketing Mix (Week 5); Value Proposition  (Week 6):  Differentiation Strategy (Week 7). 

Want to get to know more?  Then you should enrol in our next FREE WEBINAR.

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