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Your product might be good but some of the reasons for failure can be as follows:
1. Customers do not have perceived need
2. Product cost must be very high
3. Cultural issues
4. Social issues
5. Bad sales approach
6 Bad company reputation
7. Bad previous product reputation
8. Bad service history
9. Supply does not meet the demand
10. Bad packing
11. Climatic reasons
12. Seasonal business
13. Availability of latest competitor product in the market
14. Bad supply chain management
15. Bad sale & Marketing strategies followed.
There are umpteen number of further reasons for the failure of a product in the market. it has to be analyzed carefully by a team of professional so that we can arrive at a exact reason and the problem can be sorted out.
I am totally agree with Mr . Ibrahim Hussein Mayaleh . Here , I want to add ...
1.You do not have good salesmanship .
2. After sales service is not available.
1. They are not aware of your product. Consumers cannot purchase products they are not aware of. If you are marketing, but consumers still don't know about your product it may be time to evaluate why it's not working. Are you targeting the right market with your message? Is your message reaching those that would have an interest in your product? It's important to remember that the solution is not always more marketing, because the problem may lie with where you are marketing at, and what marketing vehicles you are using.
2. They don't understand the benefits of your product. Consumers don't buy products solely based on price. Now, this does not mean that they don't factor in price, they do. Consumers buy based on the benefits your product brings them. If you asked your customers what the benefits of your product are, would they know? This is important. Your marketing must be centered on the benefits for your product in order for consumers to take an interest in purchasing your product. Create a list of the top three benefits of your product and use those in your marketing message.
3. They don't feel your product has perceived value. Consumers will not buy products that they perceive as having no value. Why should customers value your product? You can use the benefits of your product to create a perceived value and it is that perceived value that helps in the sales of your product. If a customer cannot see value they will simply pass your product by. You must create that perceived value in your marketing message.
4. They don't see how your product meets their needs. We've talked about benefits and perceived value, now let's talk about needs. Do consumers know how your product meets their needs? Does it make their life easier, save them time, make them feel better? What need does your product satisfy? You have to tell consumers that, don't make them guess or come up with the answer on their own tell them and help educate them on why they need your product.
5. Your product is not accessible to them.Consumers cannot buy what is not available to them. If they hear about your product but it is not accessible, forget it. Consumers want ease in obtaining and using your product. How can you make your product more accessible to them? Is it putting it in different locations? Distributing your product different? Perhaps it's offering your product online. Evaluate the accessibility of your product and see if you
Several reasons:1- Bad Promotion2- High price3- Bad Packaging4- little or no warranty
I think because of two important factors ...
(1). Advertising - if you are good in advertising then you will be able to create demand and sell garbage also, if you aren't then even whatever glitters in your stocks you'll not be able to sell it.
(2). Pricing - You can notice today Tata Nanos' are in demand than any other cars, why? what if Tata Nano's price was higher than Ferrari, who would have bought it?
There are three types of customer’s category & secondary Customer knows everything…
A-High class (Focus on Brand )
B- Middle class (Focus on quality & budget)
C-Lower class (Focus on needs only)
VERY COMPREHENSIVE ANSWER BY MR. PADMAKUMAR ,,,,,,,,,,,,,, AGREED
It's basically a question of price , poor markeing policy & selling skills and it's unfortunatly the dead season stressed by no customer needs.
The product awareness may be the prime reason and Price mis-match another one.
The answer supported by Mr. Ibrahim Hussein Mayaleh is well explanatory and I fully endorse.
Because , there is no extra buzz round the product / brand - create this ?,
Because there is no extra freebie with product - giving an eye catcher ( * element ) ,
Market Research is not carried out since long etc
