Explain in detail why a large proportion of new product introductions fail?
What will be an ideal response?
ANSWER: Despite the amount of time and money spent on developing and testing new products, a large proportion of new product introductions fail. Products fail for a number of reasons. One common reason is that they simply do not offer any discernible benefit compared to existing products. Another commonly cited factor in new-product failures is a poor match between product features and customer desires. For example, there are telephone systems in the market with more than 700 different functions, although the user is happy with just ten functions. Other reasons for failure include overestimation of marker size, incorrect targeting or positioning, a price too high or too low, inadequate distribution, poor promotion, or simply an inferior product.
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In a strong matrix, the project managers have more influence over their project team members than in the balanced or weak matrix structures
Indicate whether the statement is true or false