Why New Products Fail Essay

New products fail at a rate of 90-95%.  New products generally fail for two reasons:

1. Costs for producing a product are much higher than expected at commencement.
2. There is a myth that new products will be “safe” for a while and this concept is false.

Don't use plagiarized sources. Get Your Custom Essay on
Why New Products Fail Essay
Order Essay

A product is a tool for solving a problem.  The core product needs to have benefit to the customer in order to be a viable product. If a core product is introduced that does not provide benefit, the producer of the product will experience immediate failure.

Aspects of the formal product will also lead to failure of a new product.  A formal product includes the brand identity, packaging, features, styling, and quality of the core product.  Missing marketing opportunities in any of the formal product areas will lead to increased chances that a new product will fail.

The 4 P’s of marketing are product, price, place, and promotion.  When launching a new product, all four dimensions need to be fully considered for success.

  Under product, the classification, life cycle, and mix of the product need to accurately reflect the demand for the product.  Under price, demand, cost, competition, strategy, and profitability all need consideration when launching a new product in a new environment.  With promotion, one must decide what type of publicity, sales promotions, and advertising will be used to let the customers know about the new product.  Finally, the place or location where the product will be offered will make or break a new product.

Options for distribution channeling are wholesaling or retailing.  Of the 4 P’s, price plays the biggest role in whether a new product will fail or succeed.  What the market or customer is willing to pay for a product is essential knowledge for determining a balance between supply and demand.  Often, costs for producing a product are much higher than anticipated, therefore reducing any profits a new product might generate; rendering failure.

Grand Paper Writers
Order NOW For A 10% Discount!
Pages (550 words)
Approximate price: -

Our Advantages

Plagiarism Free Papers

All papers are written by the best professional writers to ensure 100% originality. We always provide plagiarism reports whenever we deliver completed papers.

Free Revisions

All papers by Grand Paper Writers are completed and submitted on time. This timely delivery of papers gives you time to go through the paper before the official deadline.


As an additional service, we will provide a title page that precedes the contents of your paper. Here, you will provide your personal details.


We also ensure that we provide an extra page for the references or bibliographies following referencing rules.

Originality & Security

At Grandpaperwriters.com, we guarantee students for the provision of security and original work. All your personal information is handled with confidentiality and is not shared with third parties. Additionally, we ensure that we provide original content with accompanying plagiarism reports to show originality.

24/7 Customer Support

Our customer support team is always available 24/7 to provide instant responses to any queries raised by students.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Grandpaperwriters.com has the best professional essay writers for quality services.


Flexible Pricing

Here, a Grandpaperwriters.com, we do not compromise on the time of our clients. We always deliver all completed papers on or before the deadlines.


Admission Help & Client-Writer Contact

Grandpaperwriters.com provides an interactive portal where students can communicate directly to their writers.


Paper Submission

Here, a Grandpaperwriters.com, we do not compromise on the time of our clients. We always deliver all completed papers on or before the deadlines.


Customer Feedback

Grandpaperwriters.com appreciates feedback from our clients to help us improve the delivery of essay writing services. As such, we are constantly changing our policies to ensure maximum customer and writer satisfaction.