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How to measure the success or failure rate of a new product strategy in competitive markets

100%
Rutkowski I. P.
Marketing Instytucji Naukowych i Badawczych
|
2022
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vol. 45
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issue 3
27-44
EN
This paper attempts to present a method for determining the level of goal achievement corresponding to a marketing strategy formulated for a new product launched in a competitive market. The research method used in this paper is a literature review in the area of new product development (NPD) and marketing strategy. The obtained scientific results indicate the importance of measurement of the effects of a new product strategy and provide various new metrics in this field. In practice, the author proposes useful indicators to measure the effects of a new product strategy in competitive markets. Given the economic and marketing implications of the study, its originality concerns the results that provide the basis for the improvement of company's efforts in effect measurement of a new product strategy and also marketing strategy in competitive markets. The present paper contains an overview of scientific works about new product competitiveness, and also proposes a modification of the method used to measure new product competitiveness on the marketplace. The research contribution to marketing sciences primarily includes the formulation of a set of real rates to measure success or fail rate of a new product strategy in a competitive market. The novelty of the research lies in the approach used to obtain quantitative parameters for evaluation of market competitiveness of a new product in various industries.
2
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Poziomy dojrzałości strategii rozwoju nowego produktu — dopasowanie procesu innowacji produktu do kontekstu biznesowego

100%
Rutkowski I. P.
Marketing i Rynek
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2014
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vol. 21
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issue 1
10-17
PL
Dotychczas prowadzone badania, a także praktyczne doświadczenia wielu przedsiębiorstw wskazują, że nie występuje uniwersalny proces rozwoju produktu, a projektowanie nowych produktów w różnych sytuacjach biznesowych wymaga odmiennego procesu rozwoju nowego produktu. Zatem strategia innowacji produktu oraz proces jej realizacji musi być dopasowany do kontekstu biznesowego. Wiele firm opiera się na jednym procesie rozwoju nowych produktów dla wszystkich projektów. Ale projektowanie nowych produktów w różnych kontekstach biznesowych wymaga, aby firma wdrażała różne procesy innowacji produktu. Stosowanie jednolitego procesu do wszystkich projektów nowych produktów powoduje, że pomija się istotne różnice między tymi projektami, co może spowodować utratę szansy rynkowej. W artykule opisano sposoby rozwiązania tego problemu, dzięki którym firma może lepiej dostosować strategie oraz proces innowacji produktu do konkretnych celów poszczególnych projektów.
EN
So far, ongoing research, and practical experience of many companies indicate that there is not a general process of product development, so new products design in a variety of business situations require a different new product development process. Thus, the strategy of product innovation and process of its implementation must be tailored to the business context. Many companies rely on a process of development of new products for all projects. But the design of new products in different business contexts requires that the company has implemented a variety of product innovation processes. The use of a single process for all projects of new products it makes ignored important differences between these projects, which may result in loss of market opportunity. This article describes how to solve this problem, so that the company can better align strategies and product innovation process to the specific objectives of individual projects.
3
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Zmodyfikowane metody analizy portfelowej i ich zastosowanie do oceny projektów innowacji produktowych

100%
Rutkowski I. P.
Nauki o Zarządzaniu
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2013
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issue 4(17)
109-122
EN
An important question on the battlefield of product innovation is how to invest effectively limited resources in research and development and product innovation process? Useful in solving this problem are various methods of portfolio management. Today’s new product designs will determine the product range and market profile of the company in the future. Product portfolio renewal rate increases in a variety of companies in various economic sectors. Already about 50% of current sales come from new products launched in the past five years (approximately 30% of sales come from new products launched in the last three years). Managers who can optimize their investments in R & D and product innovation, have a much better chance of winning in the long run. But how to manage a portfolio of product innovations projects in order to achieve a sufficient and satisfactory return on investment? There are many different methods and tools to gain valuable information, but even their use does not give easy answers. In this article we shall identify the modified methods, objectives, areas and problems of new products portfolio management.
4
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Wskaźniki powodzenia oraz niepowodzenia nowych produktów wprowadzonych na rynek - fakty i mity

100%
Rutkowski I. P.
Marketing i Rynek
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2021
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issue 8
3-11
EN
Conflicting information about the success and failure rates of new products introduced on the market is presented in scientific publications as well as in research reports from consulting agencies and online sources, that have appeared in the last 60 years. Theoretical and empirical research reveals, that despite implementing new product development best practices, many projects fail with new product strategies. But are failure rates as high as 90% true? This would mean, that high costs of product innovation are incurred by many stakeholders, who create a specific network of relationships, not just the enterprise. It can be assumed, that project teams responsible for development and introduction of a new product on the market would not accept such a high risk rate of new product failure, with an extremely low level of business security, including success of new product on the market. The conditions in which companies operate influence the strategic and operational marketing activities of an organization. It is therefore no surprise, that the effects of managing new products, including process of their development, are becoming more and more important issues in the scientific literature and economic practice regarding product innovations. The aim of the article is to present the real market effects of new products, success and failure rates, from the point of view of companies representing various industries. Research measures in the field of marketing and sales effects of new products in enterprises are also proposed. The author assumes that the review and conceptual nature of this research is dominant.
PL
W publikacjach naukowych, raportach z badań agencji konsultingowych i źródłach internetowych, które ukazały się w ciągu ostatnich 60 lat, prezentowane są sprzeczne informacje dotyczące wskaźników powodzenia oraz porażki nowych produktów wprowadzonych na rynek. Badania naukowe, teoretyczne i empiryczne, ujawniają, że pomimo wdrażania najlepszych praktyk rozwoju nowych produktów, wiele projektów kończy się niepowodzeniem strategii nowego produktu. Pojawia się jednak pytanie, czy wskaźniki niepowodzenia sięgające 90% są prawdziwe? Oznaczałoby to, że wysokie koszty innowacji produktu ponosi wielu interesariuszy tworzących określoną sieć relacji, a nie tylko przedsiębiorstwo. Można przyjąć założenie, że zespoły projektowe odpowiedzialne za rozwój i wprowadzenie nowego produktu na rynek nie zaakceptowałyby tak wysokiego wskaźnika ryzyka niepowodzenia nowego produktu przy ekstremalnie niskim poziomie bezpieczeństwa biznesowego, w tym sukcesu nowego produktu na rynku. Warunki funkcjonowania przedsiębiorstwa wpływają na strategiczne i operacyjne działania marketingowe organizacji. A zatem efekty zarządzania nowymi produktami, w tym procesem ich rozwoju, stają się coraz ważniejszymi zagadnieniami w literaturze naukowej i praktyce gospodarczej dotyczącej innowacji produktowych. Celem artykułu jest przedstawienie rzeczywistych efektów rynkowych nowych produktów, wskaźników powodzenia oraz niepowodzenia, z punktu widzenia przedsiębiorstw reprezentujących różne branże. Proponowane są także mierniki w zakresie badań efektów marketingowych i sprzedażowych nowych produktów w przedsiębiorstwach. Autor przyjmuje, że dominuje przeglądowy i koncepcyjny charakter tego opracowania naukowego.
5
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Success and failure rates of new food and non-food products introduced on the market

100%
Rutkowski I. P.
Journal of Marketing and Consumer Behaviour in Emerging Markets
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2022
|
issue 1(14)
52-61
EN
Theoretical and empirical research reveals that despite implementing new product development and management best practices, many projects fail with new product strategies. But what if failure rates as high as 90% are true? This would mean that high costs of product innovation are incurred by many stakeholders who create a specific network of relationships, not just enterprises. The widespread belief that the new product failure rate is 90% is not supported by empirical evidence. The aim of the paper is to present the real market eff ects of new products, success and failure rates, from the point of view of food and non-food companies representing various industries. The research measures in the field of marketing and sales eff ects of new products are also proposed. The method used in this paper is a literature review in the area of new product development and management. The author assumes that the review and conceptual nature of this research isdominant. Practical and social implications of the study, its originality concerns the results that provide the basis for the improvement of enterprises’ eff orts in the field of a new product strategy. The limitations of the study include a complex character of considered theoretical constructs and they also concern the used secondary data sources on which the considerations in the article are based. The values of the paper refl ect the directions of enterprises’ conduct in the new food and nonfood product development process. Failure and success rates are in fact diffi cult to quantify. The research contribution to marketing sciences primarily includes the formulation of a set of real success and failure rates in food and non-food industries.
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