Why do most new products fail?
The most common reason for failure, is that the product has been developed without giving sufficient consideration to the market, right from the start of the innovation process.
When a potential new product is first considered, innovators get carried away with the technical aspects of the product. They often overlook the fact that the product can only succeed if it succeeds commercially in the market.
Therefore, it is essential that everyone involved in new product innovation, regardless of their role, approaches innovation with a market mind-set. They need to challenge new product ideas from a market point of view, to select those that have market potential, and then present a credible Business Case to justify the investment. They also need to ensure that new products are supported properly in the market after they have been launched.
By attending this Coventry Academy training course, delegates will learn how to innovate from a market point of view, select the right products to invent, justify their selection with a Business Case and market them correctly. Delegates who adopt this approach will greatly increase their success rate.
By the end of this Coventry Academy training course, you will be able to:
This Coventry Academy training course is suitable for a wide range of professionals but will greatly benefit: