Why Product Launches Fail
Business Insider identifies the flaws that contribute to a product launch failure, some of the products that have experienced them, and what we can learn from them.
A recent article at Business Insider evaluated some of the reasons why product launches fail, as sparked by the observation that of more than 70 products constituting the Most Memorable New Product Launch survey between 2002 and 2008, a dozen are already off the market. Additionally, less than 3% of new consumer packaged goods exceed first-year sales of $50 million—considered the benchmark of a highly successful launch (at least at P&G).
With that in mind, BI launched into an analysis that generated the following ‘flaws’ contributing to why product launches fail – in addition to identifying several examples of product launches that experienced them. The full BI piece is worth the read for these examples; but in the interest of time, we’ve pulled the observations in the hopes that they’ll help others increase their likelihood of success – or to at least stall a launch and its respective marketing investment until its ready to provide a differentiated solution: