Too Long; Didn't Read
The right description of a product-market fit is creating a great product that will compel people to purchase it at the price you quote. The product strategy must contain answers for 3 questions: What are you selling? Who is your target customer? How can you measure success? These 3 questions can be broken down further into 8 constituents: Who are your competitors? How will you attract customers to purchase your product i.e. value proposition? What are your customer acquisition strategies? How do you know your sales funnel?