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Manufacturer's Corner: Making Sure There are Customers

The primary reason for new product failure? Not enough sales are generated. My own experience with new product development suggests manufacturers do a pretty good job on the technical parts of developing new products…it's just the marketing questions they run into trouble with.

I think it's easiest to explain these problems and suggest solutions through the accompanying spreadsheet, similar to the one presented to owners or investors to convince them to come up with the money. To elaborate on some of the points addressed: