why do 7 in every 10 launches fail?

3 mistakes and 3 solutions In 2005 some 156,000 new products were launched in the United States and 75% of them failed within 3 months. In that same year 21,000 brands were launched worldwide with 52% of them failing within 3 months. Not only is this typical of most western countries, research suggests it is […]

3 mistakes and 3 solutions In 2005 some 156,000 new products were launched in the United States and 75% of them failed within 3 months. In that same year 21,000 brands were launched worldwide with 52% of them failing within 3 months. Not only is this typical of most western countries, research suggests it is consistent from year to year. More than 70% of products and 50% of new brands fail each and every year. Why is this so? Clearly there are benefits in knowing why this is the case and why businesses think they will not be one of the failures. The cost of failure is high and the gains from success can be substantial. I would argue there are many reasons for this recurring result, but no reason is greater than – the failure of products, services and brands to directly address a customer need or want, due…

New here?

Be the first to read the full article and get unlimited news access and insights!
No tags

Five Tips For Reducing
The Cost Of Branding.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

1. Get out of the boardroom.

Perhaps the two most concerning issues about branding are the lack of understanding about what brand and branding are and the propensity to develop brands in the boardroom, perhaps with the help of a consultant.....

TO RECEIVE CONSUMER INSIGHTS AND PRACTICAL MARKETING TIPS WEEKLY AND OTHER BENEFITS...
CLICK HERE