Business,Business plan,Marketing in Business

Firms today launch hundreds of products in the market . Some products become successful and many others fail to gain market acceptance. Marketers are forced to work in an uncertain environment. They often develop and launch products without knowing how consumers will react to the new products Even with the support of market research new product failures have haunted companies ranging from large multinationals reasons for product failures, the common ones are as follows.

The must common reasons for product failures have been technical problems resulting in less than satisfactory performance of the product in actual use situation . The solar powered vehicle, wind based power generation , and many drugs failed mainly because they could not perform as expected by the buyers.

firms often overestimate the market demand for new products. When the products are launched in the market firms find the demand to be very slow . The slow demand often forces financially weak companies to withdraw the new product from the market.