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How to Measure the Success or Failure Rate of a New Product Strategy in Competitive Markets

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  • Rutkowski Ireneusz P.

    (Department of Market Research and Services Management, Institute of Marketing, Poznań University of Economics and Business, Al. Niepodległości 10, 61-875 Poznań, Poland)

Abstract

This paper attempts to present a method for determining the level of goal achievement corresponding to a marketing strategy formulated for a new product launched in a competitive market. The research method used in this paper is a literature review in the area of new product development (NPD) and marketing strategy. The obtained scientific results indicate the importance of measurement of the effects of a new product strategy and provide various new metrics in this field. In practice, the author proposes useful indicators to measure the effects of a new product strategy in competitive markets. Given the economic and marketing implications of the study, its originality concerns the results that provide the basis for the improvement of company’s efforts in effect measurement of a new product strategy and also marketing strategy in competitive markets. The present paper contains an overview of scientific works about new product competitiveness, and also proposes a modification of the method used to measure new product competitiveness on the marketplace. The research contribution to marketing sciences primarily includes the formulation of a set of real rates to measure success or fail rate of a new product strategy in a competitive market. The novelty of the research lies in the approach used to obtain quantitative parameters for evaluation of market competitiveness of a new product in various industries.

Suggested Citation

  • Rutkowski Ireneusz P., 2022. "How to Measure the Success or Failure Rate of a New Product Strategy in Competitive Markets," Marketing of Scientific and Research Organizations, Sciendo, vol. 45(3), pages 27-44, October.
    • Handle: RePEc:vrs:mosaro:v:45:y:2022:i:3:p:27-44:n:4
    DOI: 10.2478/minib-2022-0014
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    References listed on IDEAS

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    More about this item

    Keywords

    new product success rates; new product strategy; marketing strategy; competitive new products and markets;
    All these keywords.

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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