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Top reasons that cause failure of products

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This presentation illustrated top 6 reasons for most of the product failures with examples of failed products from various industries.

Published in: Business
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Top reasons that cause failure of products

  1. 1. Why Products Fail ?Check out the top 6 reasons behind product failures
  2. 2. 1. Timing – Overshooting the Innovation – Ford EdselFord Edsel – Elaborate launch of a product at completely wrong time.Post recession, people wanted smaller, less expensive and more efficient cars
  3. 3. 2. Wrong target market – Mc DonaldsMc Donalds tried to expand to a demography that was totally at odds with the fast foodchain’s brand identity.Tried to expand from fast, low – priced American food to sophisticated, urbandemographic.Burgerwith thegrownup taste
  4. 4. 3. Fixing what ain’t broken – New CokeTo secure market share, Coke tried to reinvent its already successful formula tomake the drink sweeter & smoother like Pepsi. However, Coke failed to considerthe passion of its customers for the distinguished old Coke.Within a month Coke yanked New Coke from store shelves “We did not understandthe deep emotions of so many of our customers for Coca-Cola,” said companyPresident Donald R. Keough.
  5. 5. Most product development effort lose momentum due to lack of ownership, actionand unclear responsibility of tasks. Address such challenges with RACI Matrix4. Responsibility Vs Ownership
  6. 6. 4. Responsibility Vs Ownership (Continued)3 Rules1) Each Role should have at least some participation in at least one task.2) Not all Roles will be involved in all tasks.3) One and only one Role can be specified as Accountable for each task.RolesTasksRACI – Responsibility Assignment Matrix3 Questions1) What is to be done ?2) Who is Involved ?3) What are the levels of participation?1) Responsible2) Accountable3) Consulted4) Informed
  7. 7. 5. Product Development Vs Customer DevelopmentStage Gate Product Development – Product Focused ApproachCustomer Development Cycle – Customer Focused ApproachEnsure that product is targeted at right type of customers (Enthusiats, Early Adopters &Mainstream) at different phases of product lifecycle.
  8. 8. 6.Consumer Surveys Vs Experience MapsConsumer surveys capture information on HOW CONSUMERS BELIEVE THEY USE PRODUCTS?Experience maps capture information on HOW CONSUMERS ACTUALLY USE PRODUCTS?
  9. 9. What makes some products really great ?
  10. 10. If you like this presentation and want a free product managementtoolkit, please write to us atProductExperiencia@gmail.com

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