After a new product is developed,about 9 out of 10 fail for what reason?
A) Cost
B) Minimal marketing efforts
C) Lack of significant difference
D) The product is too regional
E) Failure in FDA testing

Question

Quizplus · Accepted Answer

Many new products fail because they do not offer a significant enough difference compared to existing products in the market. Consumers may not see the need to switch to a new product if it does not provide a significant advantage or solve a particular problem. It is essential to conduct thorough market research and identify consumers' needs and preferences to create a unique selling proposition for the new product.

After a New Product Is Developed,about 9 Out of 10