New Product Failure Case Study

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The Reasons for New Product Failure There are many reasons new products fails in today’s market. Probably the leading reason is that the manufacturer failed to research the consumer needs, wants, and preferences enough in detail to establish what is truly needed by the consumer (Kerin, 2011). All new products need to be able to meet the needs of the targeted consumers. And it is up to the manufacture to ensure that they are looking at every aspect of those needs, wants, and preferences that the consumer has. This process is defined, as “Protocol” for the new product that is to be marketed to the consumer (Kerin, 2011). The term protocol is a three-step process to where the products research defines whom the target market is. Followed by ensuring the product will meet the consumer’s needs, wants, and preferences to ensure they are satisfied. And finally, making sure the product will stand up to the expectations that they were marketed to do (Kerin, 2011). Differences …show more content…

An insignificant point of difference can often go overlooked by consumers for the reason that their current used product has met their needs (Kerin, 2011). Why would they want to change, from one brand to another? Consumers must be informed and given an alternative reasoning for them to switch from one product to another. Manufacturers and their development group must ensure the success of new products that there is a significant difference between their product and their competitor. Timing Timing is very important to consumers. A new product must meet their need in present time. To bring out a product to the consumer after interest has shifted to another product normally will mean certain failure for the manufacture. Development and research must stay abreast of the consumers wants and needs to be successful (Kerin, 2011).

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