Expert Talk on Achieving Problem - Solution Fit and Product – Market Fit

On February 23, 2023 Entrepreneurship Development Cell and Institution’s Innovations Council in association with the Department of Computer Applications organized an expert talk on “Achieving Problem - Solution Fit and Product - Market Fit” from 9.30 AM to 12.30 PM. Dr. R. Prem Ananth, IIC Convener, AP/ECE, Innovation Ambassador for Design Thinking was the guest speaker. 45 students of MCA and 1 faculty member participated in the program.

The guest speaker explained the process of identification of problem and the sources for identifying the problem. While giving details regarding the sources and process of identification of the problem, he gave number of live examples. He also said that a probable solution should also developed for the problem considering the end user and the market conditions for the same. Unless the market is not analysed properly in that situation also the product will fail in the market. Therefore, in order to avoid the failure of the product in the market, the end user and other marketing forces should be analysed properly before launching the product in the market. The Resource person discussed the process of understanding customer needs, designing a solution that meets those needs, and testing it with users to determine if there is an adequate level of adoption. The speaker discussed how problem-solution fit is achieved through a process of understanding customer needs, designing a solution to meet those needs, and testing it with users to determine if there is an adequate level of adoption. The speaker then discussed the product-market fit, which they defined as “the degree to which a given market wants or needs a given product”. He discussed the importance of finding the right market for a product and emphasized that it is essential to understand customer needs before attempting to develop a solution.This seminar was an informative and the speaker shared valuable insights based on his experience in developing successful products by focusing on these two aspects. All the students were benefited by the seminar. The interaction between the students and the resource person was highly appreciated.