BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -False. Regardless of market conditions, over 80 percent of all new products fail in the marketplace.

Detailed explanation-2: -Apparently quite a lot: According to Harvard Business School professor Clayton Christensen, there are over 30, 000 new products introduced every year, and 95% fail.

Detailed explanation-3: -Here’s a startling fact: between 80% and 90% of new product launches fail, according to multiple studies including Harvard Business Review. Each year, more than 30, 000 new products hit the market, from companies large and small, and year after year, history is littered with dead carcasses.

Detailed explanation-4: -So many things contribute to new product failure: bad design, poor user experience, sloppy implementation, feature creep, and lack of quality control. Microsoft alone has several examples of how poor execution affected their product’s performance on the market.

Detailed explanation-5: -A product’s success or failure is determined by its ability-or inability-to meet up to its audience’s expectations. The definition of product success is highly connected with what the consumers make of your product, think of your product, how they react to your product.