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About New Product Failure Five Potential Sources Discussed PDF
This document summarizes a paper that discusses five potential sources of new product failure. The paper argues that 50-75% of new consumer products fail to meet financial targets due to insufficient use of behavioral sciences in product development. The five sources of failure discussed are: 1) Separating product development into too many "pillars" or departments hinders communication; 2) Management focus is not on truly understanding consumer behavior; 3) Outdated directives from popular science books; 4) An invalid definition of "quality"; 5) A fear of trusting behavioral science results ("psychophobia"). The author argues that better integrating behavioral sciences into development could significantly reduce high product failure rates.
Detailed Information
| Author: | ['Mustofa Anshori'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 15 |
| Language: | English |
| Format: | |
| Price: | FREE |
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