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Frito-Lay Lemonade. Noxema Solid Anti-perspirant Deodorant.Ben-Gay Aspirin. Surprised you've never heard of theseproducts? You shouldn't be--after less-than-phenomenal sales,these name-brand products were shelved for good.
If a huge company with a famous name behind it can't launcha successful product, what does this mean for you, the independentwho doesn't have millions to back your product? According toRobert M. McMath, author ofWhat Were They Thinking? MarketingLessons I've Learned From Over 80,000 New-Product Innovationsand Idiocies(Times Books, $23, 800-733-3000), anyone launchinga successful product should have an original idea, be prepared todo a lot of research and be ready for a big struggle.
As founder of the New Products Showcase and Learning Center inIthaca, New York, a product-consulting firm that's amassed anextensive collection of grocery-store products spanning 30 years,McMath has witnessed the rise and fall of thousands of products.Here's his take on the most common mistakes new-productentrepreneurs make--and how to avoid them.
