You know all that coin you threw into launching a new product?
You may want to cut the dose. A recent survey conducted by
Cincinnati-based AcuPOLL found that of the more than 30,000 new
items that were introduced to consumers and store shelves last year
- nearly double the number from 10 years ago - about half of them
failed. "In this rush to market, manufacturers must launch truly
distinguishable items that address key consumer needs the way no
other item on the shelf can," said AcuPOLL CEO Jack Gordon. "The
rush to market is like rolling the dice with the odds stacked
against you." He added that both the manufacturer and retailer end
up losing money with "me too" products. For communication execs
involved in getting the message out before the product hits the
market Gordon recommends going beyond basic analysis and instead
"optimize ideas in ways that strengthen the chances for
success."
What Product Glut Means for PR…
