For most firms, the failure rate of new products will be

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Amina Whitehead

Business

29 September, 11:42

For most firms, the failure rate of new products will be

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Krista Wilkerson · Answer 1

The failure rate of new products for most firms is more than 50%. Some of the reasons why a new product fails are: overestimation of market size, problems in product designs, product is not well-advertised or priced, there is poor marketing research, and cost of product development.