The leading cause of new product failure is:
A)the poor quality of the new product.
B)the absence of a perceived need by the intended end user.
C)lack of sufficient advertising of the new product.
D)high cost of the new product.

Question

Quizplus · Accepted Answer

The absence of a perceived need by the intended end user is the leading cause of new product failure. Even if a product has high quality, low cost, and sufficient advertising, if there is no perceived need for the product by the target market, it is likely to fail. It is important for companies to conduct market research to understand the needs and wants of their target audience before launching a new product.

The Leading Cause of New Product Failure Is