Product-Market Fit
The following form is designed to help you identify potential customer characteristics and jobs to be done, problems and needs, channels, and desired user experiences, as well as product alternatives, key features, value for the distribution channel, and performance metrics. The information below is a recap from our class discussion on applying on the product-market fit model canvas.
Remember, that the product-market fit canvas is a way to deep dive on certain blocks of the larger business model canvas (reproduced below) including the blocks covering value proposition, customer segments, channels, and customer relationships. Please refer to this guide in filling out the Product-Market Fit Canvas Form.
7. Key Partners- Who are our key partners?
- Who are our key suppliers?
- Which key resources are we acquiring from partners?
- Which key activities do partners perform?
- Motivations for partnerships
- Optimization and economy
- Reduction of risk and uncertainty
- Acquisition of particular resources and activities
- What key activities do our value propositions require?
- Our distribution channels?
- Customer relationships?
- Revenue streams?
- Categories
- Production
- Problem solving
- Platform/network
- What value do we deliver to the customer?
- Which one of our customer’s problems are we helping to solve?
- What bundles of products and services are we offering to each customer segment?
- Which customer needs are we satisfying?
- Characteristics
- Newness
- Performance
- Customization
- “Getting the job done”
- Design
- Brand/status
- Price
- Cost reduction
- Risk reduction
- Accessibility
- Convenience/usability
- What type of relationship does each of our customer segments expect us to establish and maintain with them?
- Which ones have we established?
- How are they integrated with the rest of our business model?
- How costly are they?
- For whom are we creating value?
- Who are our most important customers?
- Examples
- Mass market
- Niche market
- Segmented
- Diversified
- Multi-sided platform
6. Key Resources
- What key resources do our value propositions require?
- Our distribution channels?
- Customer relationships?
- Revenue streams?
- Types of resources
- Physical
- Intellectual (brands, patents, copyrights, data)
- Human
- Financial
- Through which channels do our customer segments want to be reached?
- How are we reaching them now?
- How are our channels integrated?
- Which ones work best?
- Which ones are most cost-efficient?
- How are we integrating them with customer routines?
9. Cost Structure
- What are the most important costs inherent in our business model?
- Which key resources are most expensive?
- Which key activities are most expensive?
- Is your business more:
- Cost driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing)
- Value driven (focused on value creation, premium value proposition)
- For what value are our customers really willing to pay?
- For what do they currently pay?
- How are they currently paying?
- How would they prefer to pay?
- How much does each revenue stream contribute to overall revenues?
Key Resources
- Lesson 1.5A: Business Models and Customer Development
- Go to
- Click on “Take the Class” on the right side and sign in
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LSU NSF I-Corps Sites Team:
Entrepreneurial Lead:
Academic Lead:
Business Mentor:
Product-Market Fit Canvas
Please fill in your hypotheses on the topics below.
Characteristics & jobs to be doneWho is the typical customer for your product? What jobs is he/she trying to get done? / Alternatives
What approaches is your customer currently using to get their jobs done? What tools are they currently using?
Problems & needs
Why do customers need to use your product in order to get their jobs done? / Key features
What essential elements must your product have to meet your customers needs and solve their problem?
Channel
How will your customers acquire (i.e. buy) your product? / Value for the channel
What value will others in your distribution channel get by selling (or helping sell) your product?
User experience
What does your customer do with your product to get real value? How are you saving your customer time or money? / Key metrics
What key things do you need to measure to know if your customer is getting real value? How will you know if you have achieved product-market fit?