Why Do Most New Products Fail?

Marketing

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Sales

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Brands, Logos, Packaging

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Mar

Poor branding – a brand name that is difficult to remember, say or is not benefit focused.

Lack of awareness – no one knows your product exits. You can’t buy a product you are unaware of.

Limited distribution – not enough doors.

Lack of shelf presence – 1 SKU plays are rarely successful. To play in retail you need a line of 6 – 12 SKUs so you can develop a real brand presence on shelf.

Product is too innovative – yes, I said it. Incremental changes are best. Truly innovative products can take years to catch on especially if it is a product that is not benefit/solution oriented.

Buyers won’t give the product a chance – keep in mind that buyers are not really given the incentive to take risks. They usually only make minor changes to their assortments to ensure they get their bonus.