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Your company has developed a new product that it plans to introduce soon. Identify four reasons why a new product may fail. What strategies can the company use to increase the chance for marketing success for this new product it has developed?

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Solution Summary

This solution discussed strategies a company can use to increase the chance of marketing success for a new product as well as identified four reasons why it may fail.

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At least four reasons are worth noting on why a product may fail. They consist of not identifying the correct target market, the product is in the wrong position or mispositioned, the customer does not understand the product, and it does not address customer needs. Strategies are worth noting when it comes to developing new products.

Companies need to make sure that they create their product and do the needed research for the correct ...

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