10 Reasons Why Products Fail
The product doesn’t solve the customer’s problem or need.
The product answers a need that doesn’t exist.
The product doesn’t deliver its promise or not working as expected; maybe it has poor quality or bad after-sales service.
Other products solve customers’ needs cheaper or better.
Competitors’ value proposition is more favorable to customers, or the product does not differentiate from competitors.
The manufacturer is product-oriented, not customer-oriented.
The manufacturer doesn’t know why a customer buys his product.
It’s not the right time or the right market for the product; maybe the need for the customer has not yet arisen culturally.
Product has lost its value proposition with disruptive innovation.
There are problems with product distribution or customer access.
BONUS:Harvard Business School Marketing Professor Theodore Levitt: “People don’t want quarter-inch drills. People want a hole in their wall.”