Question

How to prevent NPD (New Product Development) failure? Discuss.

Answer 1

According to Robert Cooper [1], the major causes for new product failure are: inadequate market analysis, product defects, lack of effective marketing effort, higher costs than anticipated and competitive reaction.

Target customer pain. If you want to survive, your start-up must work to relieve customer pain that no other company is solving. ...

Outperform the competition. ...

Discover details of your customers' unmet needs. ...

Develop hypotheses. ...

Build a prototype solution. ...

Test with customers. ...

Analyze variance. ...

Pick strategy.