I recently interviewed with NeuroFocus. As a student of consumer insights, I am fascinated with the findings of NeuroFocus in “The Buying Brain” by Dr. A.K. Pradeep. I will be sharing those key findings in this and upcoming posts.
NeuroFocus has come up with six reasons why a new product launch failed:
1. The concepts were chosen based on articulated intent rather than consumers’ deep subconscious responses.
2. The appropriate trade-off between novelty and purchase intent was not made.
3. Deep emotional benefits of the product were not successfully articulated through the campaign.
4. Execution of the product concept itself and its associated packaging were lower than the original concept.
5. Product features and packaging did not present a substantive competitive barrier which enabled a launch of a superior competitive product.
6. Response to the product or service was disconnected from the response to the core brand attributes. The product or service was emotionally disconnected from the brand.
Before developing a new product or making a change to an existing product, invest the resources necessary to clearly and exactly understand the individual elements that make up the consumers’ perceptions of the brand or product.
Can you attribute any of the aforementioned reasons to a failed new product introduction?