In this ProductTank Lagos talk, Dave Wascha, Zoopla’s Chief Product and Technology Officer, shares his insights on fighting product-market drift effectively.
Dave opens by explaining product-market fit. He says product-market fit happens when a company creates the right product to address customer needs. However, many businesses, including established companies, miss this mark. And once you acquire product-market fit, it’s only a matter of time before you experience product-market drift.
What is product-market drift?
Dave defines product-market drift as the tendency for organizations to fail to respond over time to their customer’s changing needs and tastes.
Product-market drift affects everyone – big or small. The best you can do is find a way to combat it.
Dave gives the following causes for product-market drift:
Diffusion of forces
Diffusion of forces implies that instead of focusing solely on addressing your customer’s problems, you begin to solve your internal customer problems, from shareholders and …