Improve your New Product Success Rate & Increase your New Product Profitability!
Are you developing and introducing new products?
Are you concerned that your project will not be targeted, positioned or priced to achieve your objectives?
Your concerns are well founded because only 1 new product out of 4 succeeds. But there is Hope!! You can improve your likelihood of success by adopting many of the tactics and strategies of New Product Best Practices Businesses. These businesses improve their success rate by utilizing formal new product development processes and further insure their profitability by bringing market backed information into the decision process at the earliest stage.
Specifically, the top New Product businesses achieve outstanding new product performance compared to the others introducing new products:
- 49% of sales from new products compared to 25% for the rest
- 49% of profits from new products compared to 22% for the rest
- Start with 3.5 ideas to achieve one success compared to 8.4 ideas for the rest
- Return an average ROI of 97% compared to 9% for the rest
- Payoff new products in 2.5 years compared to more the 60 years for the rest
- Achieve new product market share of 47% compared to 13% for the rest
Our commitment is to help you become a New Products Best Practice Business by:
- Participating as a team member for specific product development projects,
- Performing specific New Product Marketing Research projects at various stages of the new product development process,
- Designing and training your organization to implement or improve you new product development process.
To see examples of our projects visit our
New Product Marketing Research Examples.
How can we help you?
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