It’s widely accepted that around 8 out of 10 new product launches in the food sector fail in the first year. This is very costly and this cost is ever more difficult to sustain given the margin pressures on food businesses today.
So much of this NPD failure is avoidable and consumer research is one of the most powerful weapons to help with this. Amazingly, too many new products still get launched without the benefit of any consumer research input. Is it any surprise that so many new launches fail? Continue reading