The manager of R&D for a drug company said that only 5 percent of the company's new products ever achieve market success. She also said the industry average is 10 percent and wondered how her organization might increase its success rate. If you were acting as a consultant, what advice would you give her about designing organization structure to improve market success?

Question

Savanah

Business

16 May, 09:30

The manager of R&D for a drug company said that only 5 percent of the company's new products ever achieve market success. She also said the industry average is 10 percent and wondered how her organization might increase its success rate. If you were acting as a consultant, what advice would you give her about designing organization structure to improve market success?

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Answers (1)

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Antoine Mckenzie · Answer 1

Improvement in market research system

Explanation:

In simple words, the organisation is failing because somehow they are unable to identify and satisfy the needs of their customers, thus, their is high chance that they might be not researching properly with regards to their customer needs.

Hence the company should work on market research and should make products according to the demands. Also they should check for their advertising tactics and further work for customer relationship management.