The Ultimate Email Marketing Series
January 28, 2018
22 Types of Email Marketing to Increase Your ROI
January 18, 2018
How to Create an Awesome Email Marketing Calendar
January 2, 2018
How China is changing the future of shopping
December 23, 2017
All about Email Marketing Plan
December 16, 2017
A Step-by-Step Guide to Email Marketing
December 5, 2017
List of Glossaries at a Glance
November 30, 2017
The New Marketing Mix
November 9, 2017
12 Key Elements of Great Product Design
Top 12 Reasons New Products Fail
Multiplicity: All about Expanding your Product Line
May 27, 2016
There are a million and one ways that a new product can fail (a miss instead of a hit). Here some serious instances to consider before you head toward a complete catastrophe.
No (or too little) market research on the product or the market has been done.
The new products are not positioned within any product category and also fail to open up a completely new category.
There is no market for your product.
The product’s key differentiators and advantages are not easily defined or articulated.
The expectation of consumers adopting the new products is over estimated.
Poor user interface, product design or features.
Most of the budget was used to create the product; little is left for launching, marketing, and selling it.
Your team is not fully committed or motivated about the product.
Because the target audience is unclear, therefore, the marketing campaign is ambiguous.
Sales channels are not educated about the product and thus slow to put it on shelves.
The product lacks formal independent testing to support claims.
The product is untested by consumers; only the company can assert its benefits.
Distribution takes longer than expected and lags behind the launch.
Wrong pricing strategy which contributes to under pricing or over pricing your product.
Launch and Post-Launch
15.The promised performance of the new product does not materialize, and does not provide enough customer value.
16.The launch is aimed at the wrong target audience.
17. The product is launched too far behind the competitors.
18. The product doesn’t fit into any key selling season.
19. Supplies of the product are insufficient to satisfy orders.
20.The ad campaign is launched before the sales force is fully briefed, so customers know more than salespeople about the product.
21. The product is given a limited “trial at retail” but without public relations, marketing, or promotion to “turn” it.
22. The product is launched without influencers to promote its efficacy.
23. The launch budget is insufficient.
24. There is insufficient knowledge and resources for marketers to drive consumer adoption..
25. Management launches the marketing campaign before distribution is complete.
26. Management has promised the board and stockholders an instant hit without considering how much time is needed to educate consumers about the product.
27. Your team doesn’t believe in the product and isn’t committed to promote or selling it.
28. The launch campaign depends solely on PR to sell the product.
29. The company spends the entire marketing/advertising budget at launch, so no funds are left to sustain the campaign.
30. The ad campaign is untested and ineffective.
31. Retailers are given no incentives to feature the product.
32. All marketing dollars go to advertising and public relations, none to social media.
33. Line extensions aren’t test-marketed as thoroughly as the original product, so they fail.
34. The product is launched to capitalize on a fad that soon fizzles.
35. The product design is unique but confuses consumers, who don’t understand how the product works.
36. The spokesperson is a bad fit with the product, creating a discordant message.
37. The product is priced too high for mass adoption.
38. Consumers are unclear about what demographic the product is geared toward.
39. The product is manufactured offshore; quality control issues result in negative consumer feedback and product returns.
40. A governing body (the FTC, the FDA) pulls the product, citing false claims, defects or safety issues.
"Great companies are built on great products." -- Elon Musk
New Product Development Process Steps
New Market Entry
New Product Launch
Social Media Marketing
Software Development (16)
Product Life Cycle (2)
Social Media (10)
Project Management (17)
Growth Hacking (22)
Product Development (24)
Product Management (7)
Mobile App (9)
Mobile Commerce (4)
Team Building (5)
Better and Faster
Buying Decision Process
Customer Retention and Loyalty