Market validation is a process of determining whether a product or service idea has real potential in the target market, gathering crucial data to assess demand.
Effective market validation provides qualitative and quantitative data essential for fine-tuning products, ensuring they meet actual customer needs and thus mitigating the risk of product failure.
While market research gathers broad insights on customer needs, market validation pinpoints true demand by obtaining direct feedback on minimum viable products.
Mastering market validation techniques significantly increases the chances of crafting a product that aligns with what people genuinely want.
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