I'm not sure where the old threads from this section get archived, but every year there's an 'accepted!' thread with people's stats. Here's the one from my year (2009) http://talk.collegeconfidential.com/georgia-institute-technology/665090-accepted-post-stats-here.html.
WRONG, WRONG, WRONG. That same revealed that, when customers stop using a product or service, the reason is almost always either bad customer service (cited by 74 percent of respondents) or poor quality (cited 32 percent of respondents). Price was only an issue for only a quarter of the respondents, and product functionality (i.e.
The failure rate for new products and services can be as high as 90% in some sectors. Luckily there are some simple ways to increase the odds your product will avoid the same fate. Follow these five steps to optimize your new productâs chance of success: 1. Identify An Opportunity And Generate A New Idea To Fill It If nobody wants or needs your product, it is bound to fail.