Avoiding the Pitfalls of New Market Entries
Whitepaper summary:
New market launches require a myriad of decisions. It only takes a few bad decisions to sink a product. Most marketers employ models such as Philip Kotler’s Four Ps – product, place, positioning and price – to serve as a guide in new product launches. The models help minimize the risk of making wrong decisions.
So why do we continue to see launch failures? More than 50% of all new product launches fail. Why don’t the marketing rules and guidelines eliminate these mistakes? Unasked questions and unquestioned assumptions in customer targeting, channel selection and organizational decisions are usually the root of product failures.
