MANAGEMENT

Detailed explanation-1: -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.

Detailed explanation-2: -Product Failure means falling short of the strategic Objectives & Key Results (OKRs) metrics set for the product. Objectives can be multidimensional and go beyond financial goals for revenue and profit, such as establishing a new competitive advantage or providing a new upsell opportunity for another product.

Detailed explanation-3: -The true measure of a product’s success is determined by the “second moment of truth”, which is when consumers actually consume it. If they have a positive experience, they are likely to buy your product again. This leads to a high repeat rate and ultimately a successful product.

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.