Strengthen the appeal of your new products

Most new offerings never manage to take off - and this is true in almost every industry. 78 percent of new food products don’t  last long on the market; 60 percent of Hollywood films never recoup their costs. Even the most admired companies regularly  experience failures. For example, Apple’s first MacBook Air may have been remarkable in many ways, but failed to generate  the expected level of demand.

An analysis of blockbuster products in recent years shows that this type of success takes much more than merely putting out  an excellent product. To conquer the hearts and minds of consumers already flooded with offerings, a product or service must  really stand out. This means thinking beyond a product’s functional excellence to find creative ways to shine in the marketplace.

Companies who want to jump-start demand for their new products can find inspiration in a number of essential principles gleaned  by analyzing the approaches of those who have achieved this goal:

- Look beyond expressed needs. Satisfaction indicators and stated needs are not particularly good at predicting what people will actually buy in the future. It is a much better idea to innovate by observing the behavior of potential consumers, and
particularly their frustrations.

- Think in terms of customer experience rather than product features. For people to stand in line for your product, you must  create an emotional bond which surpasses the functional aspects of the offering.

- Prepare for the worst in order to avoid it. Even the most stunning commercial successes have run into problems at one point  or another. Potential stumbling blocks can often be skirted or minimized if they are anticipated in advance.