Back in 1995, Baxter stated that out of ten ideas about new products, three would be developed, 1.3 would be launched, and only one of them was profitable. Does anyone have updated figures / studies / links about it?
I agree in early 1990s, the success rate were pretty small. In the last 20 years, many new concepts were introduced for accelerating the product development process and its sustainability,
Those has improved both the development & launch success rates as well as profitability of the products once launched into market, I believe..
The following describes some of those techniques. Hope, you find it inteteresting
Article Development of New Products in Small Companies
Thanks Brian,
I agree: it must have improved. At least, that's what our perception and common sense tell us.
Anyway, I have been looking for some figures, so that I can use them in a simulation model.
If you find something about that, please, let me know. It will be highly appreciated. By the way, thanks for the article.