• Understand the purpose of new product development and the reasons why new products fail (CO3, 5)

It is imperative an organization continue to create value to its customers, and this is one of the reasons new products are developed. Viewing the course materials and/or conducting additional research, identify a new product failure (there are several listed in this week’s course materials). Assess at least three potential reasons why the new product failed. Develop a minimum of two suggestions a company might use to increase the chances of new product success.

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