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June 16, 2014 By Amanda Kaiser

Success Is Hard To Predict

hard to predict

It is hard to predict what someone will choose. Until it’s out in the world no one knows if a product, service or idea will get attention, purchase or interest.

Consumer companies spend millions on product concept screens and they still have a hefty new product failure rate. The studios in Hollywood test movie concepts and then the movies themselves duringĀ development and still some flop. Computer software goes through extensive user experience testing and still sometimes it is not liked or adopted.

Because it is so hard to predict success sometimes it is better to make many bets than just one very large bet. You can also do things like eliminate more of the risk from your bets. The more you understand your member’s problems from their specific point of view the better you will be able to offer solutions that have a chance of hitting the mark.

 

Related posts:

  • What dating and innovation have in common
  • The 3 myths of association innovation
  • The innovation cliff vs. the innovation practice

Filed Under: Association Strategy Tagged With: forecast, formula for success, innovation, new product launch, practice of innovation, predict, risk, success

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