New product fails

Only 8% of new products survive for more than one year.

A 92% failure rate does little to promote the current efficiency of company marketing.

"The reasons some businesses fail to innovate is not that they shy away from ideas.  It is that they engage in hopelessly romantic ones - at great cost in men/women and money.  An idea must meet rigorous tests of practicality if it is to be capable of making a business successful in the future".
Dr Peter Drucker, Harvard Business Review, 1964.

MPC can help to improve this percentage by

1.  Preparing new marketing strategies for new products.

2. Analysis of current market research for existing products.

3. Analysis of dedicated marketing budgets for existing products, especially advertising and promotion, in order to reduce wastage - which within the marketing industry has currently reached record levels in these areas.  

3. Re-investment of budget savings into more effective methods of increasing sales and profits.

A further factor to be taken into account is patience in calibrating consumer acceptance of the product.

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