Product Marketing

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Why Great New Products Fail

Many innovative new products don’t succeed. One common reason: Companies don’t focus on understanding how customers make purchase decisions. But paying attention to how customers search for information about what to buy, and how they make guesses about details they can’t easily find, helps predict whether customers will embrace certain product innovations. Companies need to focus on innovations that customers will easily recognize or find ways to alert them to innovations they may not detect on their own.

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Free Article

One Critical Strategy New Products Often Overlook

  • Blog
  • Read Time: 3 min 

“New industries are characterized by an early period of confusion and uncertainty about use and meaning, which brings about a proliferation of category labels that attempt to describe the new products,” write Fernando F. Suarez and Stine Grodal, both of Boston University School of Management. Ideally, companies want to time their entry into a new industry to when a dominant category label emerges, but not every product can enter the market at the ideal time. Three strategies identified by Suarez and Grodal can help new products make the most of any timing.

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