Product Failure: The Food Industry's Area 51
Wednesday, July 25, 2012 - 05:40
in Mathematics & Economics
Null results are important in science, but that doesn't mean scientists want other people to see theirs. The reason is obvious: competition. If one group has a null result and another group is working on something similar, they potentially give the competitor a shortcut by publishing a negative result.So it goes in just about every field. The food industry has its own null results, but they can be a lot more expensive. The failure rate of new product launches is a shocking (to outsiders) 50%. It seems shocking because these are experts, armed with expensive demographic analyses and psychological information on the marketplace. They should know what people want. read more