Reasons for New Product Success

1
Reasons for New Product Success

• 1. Product Advantages
• Unique Features That Satisfy a Need
• Greater Quality
• Reduced Customer Cost
• Innovative
• Solved A Customer Problem
• Priced, At Or Below The Next Best Alternative
• 2. Proficiency of Predevelopment Activities
  (Stages)
• 3. Protocol
• Clear Definition Prior to Development State of
• Target Market
• Customer Needs, Wants and Preferences
• 4. Good Fit with Company Skills and Resources
• 5. Fit Into a Large or Medium Growth Rate Market
• 6. Top Management Support
• (This is also present with failures)

2
Reasons For New Product Failure

• Lack of Product Uniqueness or Superiority
  Performance/Price
• Poor Planning
• Positioning
• Segmentation
• Over Pricing
• Insufficient Promotion
• Poor Timing
• Technical Problems
• Loss of Objectivity
• Unexpected High Product Cost
• Failure to Anticipate Competitor Response
• Company Politics
• Regulation