10 Reasons Why New Products Fail

Crystal Pepsi? Google Glass? Ever noticed that not all new products are a success? Well here we look at typical reasons why new products fail. These are things that firms should consider when they are developing new products as product failure is real.
#marketing #productfailure #epicfail
Topic 11 New Product Development
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[@frednich9603]

Have you heard about what Disney is doing with Mulan? Instead of releasing it in the theater as planned, they are going to put it on Disney+ as a $30 premium event. Not sure if $30 is for one viewing or you own the movie forever. If it's $30 for one viewing, like taking a family of 3 to the theater, I don't see this going well for them.

[@ProfessorWolters]

Mulan will be another test case for VOD. Disney is in a world of hurt and they need to make some money so this is an option to drive subscribers and VOD buyers or renters. This will have a major impact on film budgets going forward as VOD has not proven itself yet for potential billion dollar movies.

[@frednich9603]

@@ProfessorWolters If the VOD was an option, I'm honestly surprised that they didn't do that for the release of Hamilton. It was filmed with the intent of a theatrical release in 2021, but they bumped it up. They could have made some of that money back

[@ProfessorWolters]

Yeah, I think the pressure from investors to make some money is higher than it was even a month ago.

[@gospelprincessdeyah]

Love your enthusiasm!!!!

[@piano.music88]

Perfect reality check. 👌👌

[@offthebeatenpathadventures1348]

Diving Silfra in Iceland is always portrayed as beautiful, but dive shops never warned to be divers how cold it is it how diving in a drysuit changes things. People just assumed it was positioned as another dive. Beautiful blue water must mean its warm right?They got in and the drysut restricted their movements and the water gave then ice headaches. Finally they started making people show drysuit certification. That NES was fun. Miyamoto can do no wrong. I remember the Jazz and Bull finals. We loved it. We lost, but it brought the state together. We never expected to make it and then Stockton sinks the three on the Rockets. We knew winning the finals at the time was unlikely, but we were hoping to have more finals later on. I can't complain, I got to meet Walt Frazier and Ostertag. Both who are really nice. Thanks for bringing up the great memories.

[@AspiMagic]

Great explanation video 😁 thank you!

[@ProfessorWolters]

Thank you

[@catherineyow6325]

One gimmicky product that just released in the beauty space is from a brand called Becca, who used to be super popular but is starting to fall off, that is a “Zero Pigment Foundation” they knew if they just released another primer, no one would talk about it, but they made this ridiculous claim, and got people to talk about it! The reviewers are not liking it though, since it doesn’t do anything lol

[@ProfessorWolters]

Yeah. There are a lot of marketing words that sometimes appear and people fall for them.

[@tosht2515]

Not sure where this fits but sometimes products fail because you aligned with the wrong partner who had the most influence on overall viability. 😬 One of my best friend's brother was a very enthusiastic entrepreneur. Tried everything and jumped in both feet. All product development and retail by the way. Well, he actually hit it huge. Profiled by multi-media outlets including interviews on the network morning shows. *_Made millions._* Fast forward he's looking for his next thing. A Hollywood movie released and was a hit. Three big time actors, all A-Listers. Box office was 5 times budget so a sequel immediately went into production with everyone returning. My friend decided to buy the merchandising rights to the film which is not cheap. Yup. Sequel tanked, didn't stay in the theaters very long and his products never took off. 😐

[@ProfessorWolters]

best laid plans of mice and men... sorry for your buddy Tosh

[@tosht2515]

@Professor Wolters He didn't lose any money, Mark. He just didn't make much and I suppose lost some connections. He brought in HASBRO who not only manufactured the toys, games, puzzles, etc. but took care of all the distribution and sales. He also brought in an apparel company for shirts and such. Those companies lost $ unfortunately I'm sure. His sister and I went to a toy store before the movie's release and marveled at the massive display. A couple of months later all the toys were marked down 50%. A real eye opener.

[@toddboothbee1361]

What do you, a world traveler, think the world travelers virtual reality market is like?

[@ProfessorWolters]

I don't think it will ever be as lucrative as people think it will be