This blog is in response to Katy Wang’s blog post on “Why most new products fail?”. She had mentioned all possible important things that an entrepreneur or a manufacturer should focus on, while launching a new product . I strongly agree with all that she had mentioned in her blog on why the products are failing.

The point is that , you need to investigate before you innovate ,  a few of them stay in long term but most of them just disappear . Out of all the important things , the most basic thing  the firm should do is to estimate what is certain. They should also do good market research, know about government interference etc.  The firm should also know about their risks even if their product is going to be successful.  It also depends on the number of “likes” and how comfortable the customers are with the product. As mentioned there are two types of launch products – revolutionary new product or a product improvement.  An other example for the product improvement could be coke or Pepsi trying to improve the product not by taste but other aspects like packaging and different ideas of marketing .  Operations is also a most important factor to keep track on.

On the whole, my opinion for a firm launching a new product would be to anticipate the risks and failures they would to make their product stay in the market . Ofcourse, they should keep improving the product and they must be doing the same thing as launching a brand new one.

 

Referred:

https://connect.ubc.ca/webapps/portal/frameset.jsp?tab_tab_group_id=_2_1&url=%2Fwebapps%2Fblackboard%2Fexecute%2Flauncher%3Ftype%3DCourse%26id%3D_45361_1%26url%3D