while there are many advantages to undertaking new product development efforts, a large percentage of new products are not successful. For example, a typical supermarket introduces more than 5,000 new product to its customer base every year, and as many as 80 percent of those products are commercially unsuccessful. Many failed efforts are simply misunderstood by consumers. Other products fail for a variety of unexpected reasons. Some common reasons for new product failure are as follows.*Failed new products are based on poor market research.*Failed products can also be closely associated with problem or defects.* Some new products are based on inferior designs; therefore, they do not succeed.
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