Reference no: EM133592182

Question: Let's think about new products or services that you have thought about and would like to see on the market. We know that it is very difficult for new products to succeed in the marketplace. The data suggest that the probability of success is quite low. Whether in large innovative companies such as Apple, 3M, Tesla or in an individual's garage, many products have made it all the way through research, patenting, design, and small production runs only to fail in the end. Think about books. If more than 400,000 new books are written annually in the U.S. alone, how many sell more than 100 copies? More than 1,000? Think about any new products or services we have these days, what are the most unique/creative factors of them or the most important step in their product development