TO:
UA NSF I-Corps Sites Teams
FROM:
UA NSF I-Corps Sites Administrators
SUBJECT:
Product-Market Fit Canvas Guide
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
8. Key Activities
1. Value Proposition
 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
o Optimization and
economy
o Reduction of risk
and uncertainty
o Acquisition of
particular resources
and activities
 What key activities do
our value propositions
require?
 Our distribution
channels?
 Customer relationships?
 Revenue streams?
 Categories
o Production
o Problem solving
o 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
o Newness
o Performance
o Customization
o “Getting the job
done”
o Design
o Brand/status
o Price
o Cost reduction
o Risk reduction
o Accessibility
o Convenience/
usability
6. Key Resources
 What key resources do
our value propositions
require?
 Our distribution
channels?
 Customer relationships?
 Revenue streams?
 Types of resources
o Physical
o Intellectual (brands,
patents, copyrights,
data)
o Human
o Financial
9. Cost Structure
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4. Customer
Relationships
 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
o Mass market
o Niche market
o Segmented
o Diversified
o Multi-sided
platform
3. Channels
 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?
5. Revenue Streams
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:
o Cost driven (leanest cost structure, low price value proposition,
maximum automation, extensive outsourcing)
o Value driven (focused on value creation, premium value proposition)
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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?
Helpful Hints
Key Resources

2. Customer Segments
Lesson 1.5A: Business Models and Customer Development
o Go to https://www.udacity.com/course/ep245

Click on “Take the Class” on the right side and sign in

If you do not already have a user account you will need to create one

Don’t worry – it is free

In the upper left use the lesson navigator pull down menu to navigate to the lesson
UA NSF I-Corps Sites
Product-Market Fit Canvas Form
UA NSF I-Corps Sites Team:
Entrepreneurial Lead:
Mentor:
Academic Lead:
Product-Market Fit Canvas
Please fill in your hypotheses on the topics below.
Characteristics & jobs to be done
Alternatives
Who is the typical customer for your product? What jobs is
he/she trying to get done?
What approaches is your customer currently using to get their
jobs done? What tools are they currently using?
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Problems & needs
Key features
Why do customers need to use your product in order to get their
jobs done?
What essential elements must your product have to meet your
customers needs and solve their problem?
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Channel
Value for the channel
How will your customers acquire (i.e. buy) your product?
What value will others in your distribution channel get by
selling (or helping sell) your product?
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User experience
Key metrics
What does your customer do with your product to get real
value? How are you saving your customer time or money?
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?
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