Product currently stands on the product life cycle diagram

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1. The vast majority of new products fail. Estimates of failure rates range from 60% to 90%. Why? Isn't it reasonable to assume that the people working for the major food companies know this and thus take steps to ensure their new products are successful? So, why despite this, do such high percentages fail?

2. Does knowing where a product currently stands on the product life cycle diagram tell you anything about what will happen to sales of the product in (a) the immediate future and (b) over the next two or three years?

Reference no: EM13830424

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