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Understanding and preventing the failure of new products
Despite Herculean efforts new financial products sometimes fail. After outlining how some failures arise, this paper proposes steps that can be taken to reduce the risk of failure. Products can fail at any stage of development but problems are particularly likely during the productdesign stage, during pilot testing and during rollout in the case of a product that is not pilot tested.
Despite Herculean efforts new financial products sometimes fail. After outlining how some failures arise, this paper proposes steps that can be taken to reduce the risk of failure. Products can fail at any stage of development but problems are particularly likely during the product
design stage, during pilot testing and during rollout in the case of a product that is not pilot tested.
design stage, during pilot testing and during rollout in the case of a product that is not pilot tested.
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