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Factors contributing to the success of new products in the Australian grocery market
journal contributionposted on 2004-01-01, 00:00 authored by Jerry Soldatos, J Hardy
The paper examines the contributing factors to new product success within the Australian grocery market. A review of the literature on new product success factors and reasons for failure is presented. The research identifies reasons for failure of new products as well as reasons for success. The main reasons for new product failure are incorrect pricing, poor marketing, wrong product launch timing, poor distribution and lack of marketing funds. For new product success it is critical to have strong leadership, competent staff and an on-going new product development process.