Is Your New Product Idea A Good One?
As an entrepreneur, how do you know if your great idea for a product could lead to a successful business? Inc Magazine tells us that 95% of new products fail. According to research from Oxford College, a lack of market research is a top cause of new products failing. Developing a new product is a big investment. It makes sense to do some market research to see if people are likely to buy your product when it launches.