I was thinking about how many new business ventures fail in a short period of time, and how many times this is related to the inability to generate enough product awareness in the market. The “Mom’s Healthy Secrets” cereal company is a good example of how difficult it is to break into an established market with a new product. Another classmate was discussing in their Blog Post how people will often try to get on a show such as Dragons Den not only because they need the capital but also because it is a great way to get wide exposure to their unknown products. Promotional and communication costs are extremely high when introducing a new product, and this is an example of an innovative way to generate initial exposure.
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