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While the figures on new product failures vary, there’s one thread that connects them: The majority of new products fail. And, that includes those designed by major brands.
Harvard Business School professor Clayton Christensen reported that 30,000 new consumer products are launched each year — and 95% fail. Even brands like Apple, Ford, and Pepsi have had some dismal product failures that were clear setbacks, despite having so many other highly successful product launches.Read the full article