The success rate of new product offerings is dire. It’s difficult to get an accurate figure on new product success rates because there is not one universal definition of success within and between firms. Plus, firms often don’t like to talk about their failures.
What are some of factors that contribute to product “failure”?
Many recurring themes occur in the literature, such as:
* a failure to listen to the voice of the customer;
* poor up-front pre-development homework;
* unstable product definition;
* poor quality of execution of key NPD tasks;
* and poorly structured.