Which of the following is a common reason for new product failure?
A) incorrect estimation of the market size
B) low product development costs
C) ineffective social marketing campaigns
D) low selling prices of products
E) patent ownership exclusively held by the company

Question

Quizplus · Accepted Answer

Incorrect estimation of the market size is a common reason for new product failure. If a company overestimates the demand for a new product, it may invest too much in its development and fail to recoup those costs. Similarly, if a company underestimates the demand for a new product, it may not invest enough in its development and fail to capture a larger market share. It is important for companies to conduct thorough market research to accurately estimate the size of the potential market for a new product.

Which of the Following Is a Common Reason for New