Reasons for failure of new products in the consumer goods industry

Authors

Usamah Iyyaz Billah, Hailey College of Commerce, University of the Punjab, Lahore, Pakistan

Abstract

Consumer goods companies launch new products in order to create diversification in their product portfolios and successfully compete in the market. However, based on in-depth literature review, it has been identified that only a few of these new products are successful. For the purpose of this research article, detailed interviews have been conducted with corporate managers of consumer goods companies in Pakistan and the Middle East. This article, hence investigates the key reasons for new product failure, the level of impact of these reasons & the measures that should be taken in order to avoid new product failure. The findings and recommendations can serve as a useful guideline for decision makers of this field and also provide further opportunities for research in this area.

Keywords

New products, Launch, Failure, Reasons, Consumer goods, Marketing

DOI

https://doi.org/10.54784/1990-6587.1209

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Recommended Citation

Iyyaz Billah, U. (2012). Reasons for failure of new products in the consumer goods industry. Business Review, 7(2), 119-129. Retrieved from https://doi.org/10.54784/1990-6587.1209