A great response to my post (That awkward moment when the PowerPoint slide became the research) from Insightovation.

 

INSIGHTOVATION®

A marketing friend recently blogged about Sr. Management relying on a product manager’s overly optimistic PowerPoint summary of the research on a concept for which new product development was based, instead of a thorough analysis and review of the objective data.  Of course the product failed and left management scratching their heads.  A post mortem review revealed the serious misinterpretation of the data by the product manager and over-stated forecast of market needs and acceptance.  During the new product development (NPD) process, management drank the proverbial “Kool-Aid®”.  This is common.  In fact, inadequate market analysis is actually a leading cause (a full 45%) of product failure according to Robert G Cooper, in the now classic book, Winning at New Products.  Companies simply fail to do their homework in identifying the needs of the marketplace, including the customer, the user, the retailer and ignore the early signs of competitive activity…

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