1. There are several ways for companies to introduce new products, such as developing new products internally, acquiring new products, or improving existing products. 2. Successfully introducing new products faces challenges like constant innovation pressures and adapting products for new customers, while the number one success factor is creating a uniquely superior product. 3. Reasons for new product failures include a lack of good ideas, fragmented markets, constraints, high development costs, lack of funding, short development times, and shorter product life cycles. Organizations use various processes like customer-driven engineering and stage gates to manage new product development.