Product launches should never fail
Those who follow me, are aware that I ascertain new product launches should never fail.
Of course this follows from the fact that products don’t fail… businesses don’t fail… it is MANAGEMENT that fails to do its job properly, who truly fail.
How Do Executives Allow Product Launch Failures to Happen?
But is it their “fault”?
Perhaps modern-day executives are victims of the business education they have been fed, or the hype delivered by self-promoted NPD ‘experts’ who push flawed theory upon susceptible executives.
Models that are popular these days include the new product development wheel (which I admit to having taught, in the past, at postgraduate level myself) and the Stage Gate model (the NPD wheel re-packaged to seduce operational marketing folk with summarial simplicity)… BOTH limited and incomplete as management tools .
Given the limited delivery of academic acumen, it follows when Product Development teams are employed according to their knowledge of such tools, when business teams meet, committees are formed, and decisions are made they are made on the premise that these models are valid; its no wonder that product launches end up being risky, or unsuccessful.
Its kind of like a meeting of the the flat-earth society…. every decision that flows is built upon belief in a model that is simply flawed… so outcomes must be equally as flawed.
Methodology that starts with “idea generation” as Step One…. is dooming you to an 80% failure rate.
- Idea Generation must FOLLOW discovery of market needs, wants, desires and aspirations.
- Idea Generation must Be founded on Purpose, Mission and Vision.
- Idea generation must contextual to the resources available to the organisation.
- Idea Generation must to FOLLOW discovery of market needs, wants, desires and aspirations.
“That stifles creativity and innovation” cry the masses of self-proclaimed innovation & ideas experts (some of who are clever guys).
So might it be, but there ARE better ways paths to new product development for commercial success than the two mentioned above.
Anyone, globally, should bookmark & use http://www.prelaunchchecker.com to ‘test’ if your product launch idea has merit…
For folks in South East Asia, click this link to find out about my 2-day Product Development workshop this June in Kuala Lumpur, Malaysia. You can find out more by visiting, http://www.yf-asia.com/product-development-for-bullet-proof-product-launch/