Are We Measuring Product Success Correctly? - Advice for PMs

Measuring success is an integral part of any company, without which we cannot operate a product in any way or form. Without measuring success, the whole product vision would simply be based on some deluded platform of presumptions and intuitions which may or may not be correct. However, the question is what constitutes as ‘success’ and what should be measured in calculating how close or far we are to this success?