Why New Products Fail
- Bob Cannon
There is a consistency around a few common mistakes that explain why new products fail.
- The single biggest shortcoming in new product introductions is not fully understanding the product, its usage and the target market. A dead give away to this problem is when inventors tell me their target market is “everybody”.If your target market is everybody, you are doomed to failure. It is like shooting a gun at a bull’s eye. You will most likely never hit the bull’s eye if you are aiming at the whole target.
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