- 20 Marks
MFS – OCT 2022 – L4 – Q3 – New Product Success Factors and Failures
Submit a paper on three new product success factors and three reasons why new products fail.
Question
An introduction of new retail products to a Bank’s product mix is considered as source of growing the assets and liabilities of that Bank. A lot of new products however fail. There are several sources of risk associated with those failures. As the Head of Marketing of your Bank, your Chairman of Product Development Committee (PDC) has asked you to submit a paper to the Committee on three new product success factors and three reasons why new products fail.
(20 marks)
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