Avoiding Product Flops with Innovation Testing

Thu, 07 Sep 2023 00:00:00 -0400
Knowledge Partners

System1 emphasizes that despite big brand names, percent of new innovations fail. Common pitfalls include inadequate market research, misjudged pricing strategies, poor timing, and ineffective marketing. To mitigate these risks, they recommend an innovative approach: testing rooted in the “wisdom of the crowd” methodology.