| Abstract: | Abstract This study evaluates the reasons why new products fail, and recommends a Strategy for New Product Development to avoid such failures. Using a sample of four products, the Ford Edsel, Coca-Cola's New Coke, the Sony Betamax, and the RCA Videodisc, where the introduction of a new product was unsuccessful, as research data, it is determined that the most common reasons for a products failure are poor planning, poor management, poor concept, poor execution, poor use of research, poor technology, and poor timing. A recommended strategy for successful new product development includes a sound concept, an environmental assessment, management and planning, technological feasibility, research, quality assurance, and customer feedback. |
