Critical Review Whay Most Product Launches Fail Essay example
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london college of accountancy pre-sessional course 2012 | Critical review of ‘why most product launches fail’By Joan Schneider and Julie Hall | Final draft | | Ijaz Khalid302480/402604 | 19/11/2012867 wordsSubmitted to: Barbara Webb |
The debut of a product into the market termed as product launch. The product launch signifies the point at which consumers first have access to a new product. But when it comes to new products, great expectations can doom products that don't measure up to them. There are more stories of failure than success when it comes to new product launches. Approximately 95 percent of new products introduced each year fail, according to Cincinnati research…show more content… By getting into details it proves that to get something new in market is hard nut to crack.
They then put forward most frequent flaws and the lessons learned one by one. The first flaw is ‘the company cannot support the fast growth’. They take an example of product ‘Mosquito Magnet’ to discuss it. They state that it happened because company (American Biophysices) focus was not in right direction as it was more tilted towards product R&D. The result of this is when company realized that there product became a top selling product they decided to expand, their production and quality dropped, consumer went angry and product went off from the market. To avoid this flaw one should have comprehensive plan before hand to accommodate any certain and uncertain circumstances.
Then they put forward 2nd flaw which is ‘The product falls short of claims and gets bashed’ by considering example of Microsoft Window Vista: it had some performance and compatibility problems, so it did not