Challenges of Introducing a New Products or Services
S elect a problem that a firm might have bringing out a new product or service and discuss how the firm could overcome that problem.
Select a problem that a firm might have bringing out a new product or service and discuss how the firm could overcome that problem.
Total Word Count Required: 700
No Plagiarism
Atleast 2 references
APA Format
Answer preview
When a new product or service is being introduced in the market, firms face several significant problems during this development stage. Firms require to identify these major problems and focus on them to overcome them and ensure the utmost success. There is one major problem that a new product or service faces, which is the lack of preparation by a firm. According to research analysis, this problem has influenced the failure of more than 75% of firms introducing products or services in their first fiscal year…
(750 words)