Are Your New Products As Successful As They Should Be?
The lifeblood of almost every company is a continual stream of successful new products or services. In truth, probably the only way out of commodity hell is new products and services. If this is true for you, you know it’s true for your competitors! So, who ever produces more successful new products or services wins.
Integrating Marketing With New Product/Service Development
The success rate of new products and services introduced into the marketplace is appallingly low. For some industries the failure rate exceeds 90%. While a majority success rate may not be desirable due to the tradeoffs required, there is clearly room for improvement. There is ample evidence that the problem is solvable, but it does take work. You can gain a competitive advantage by making the investment in the proven key to success discussed in this paper.
New Product Introduction Myths
Successful new products are required in any profitable, growing company. Time and energy is heavily invested in the development and design of your new products and services . . . but what about their entry into the marketplace. Positioning, sales channels, advertising, and PR all need to be addressed and given as much time and energy as the development and design stage to complete the new product’s introduction into the marketplace.