The house of saaS – PRODUCT STRATEGY

All great products once started as good ideas, but not every good idea will become a successful product. Is there more to it than just having a good idea and working to make it all work?

While there are many factors involved in building a product-led business, above all, a good product is created to satisfy an existing physiological need. Our needs are what drives us to pursue goals & aspirations. American psychologist Abraham Maslow created the hierarchy of needs pyramid in order to explain this dynamic.

So, if we have a good idea, how do we make sure that it does indeed evolve to be a successful product that the market loves?

Your Product Strategy is what’s directly responsible for aligning the value proposition of your idea with the target market you’re aiming for, аnd how well you satisfy that market with your product is what’s called Product-market fit.

Product-market fit is that space / relationship between your product and the target market’s unmet needs.

Achieving Product-Market Fit

Building a good product could be confusing when there are so many things to consider – features, functionalities, business models & so on. However, if you look a things from a product-market-fit perspective things get clearer because your future customer’s needs are where the right product formula is located.

Being able to identify those needs, and how your competitors are satisfying them at the moment is key to building a successful product.

At The House Of SaaS we have all the tools and knowledge to create a working Product Strategy for you that will help you deliver a product that customers love.

Abraham Maslow’s hierarchy of needs pyramid

Dan Olsen’s product-market fit pyramid.

Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne