Even if your company has other successful products to fall back on

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The organization’s reputation for quality may be irreversibly damaged. Product failures can cost you key staff members: If you hired brilliant professionals for a new product launch and the product fails, you may need to lay them off — or they may quit. Existing employees may become demoralized, affecting your overall company morale. Tip Protect your brand reputation amid a product failure by focusing on other, more successful offerings.


For example, engage with customers online to help generate positive attention for other aspects of your business. How to avoid a bad product launch and product failure Follow these tips to give your product t list of lebanon cell phone numbers he best chance of succeeding. 1. Define your target market. Who will buy your product? Your first reaction may be “everyone,” but that’s unlikely. Sit down with your team and discuss what problems the product solves and for whom it will solve them.


Who will benefit from your product and what types of people will buy it? Sometimes, your buyers won’t be the people you expect. For example, as the COVID-19 pandemic kept millions of people at home, LEGO shifted to embrace adult users in addition to children and their parents. To cater to this unexpected market, the company created more intricate and complex designs targeted at adult users, such as LEGO flowers, bonsai trees and a large-scale Lamborghini. To reach this target audience during the pandemic, the company devoted more resources to social media advertising than retailers and in-person outreach at shopping malls.