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The purpose of this study is to identify why many products fail during their road to market and how companies can avoid the amount of time and money it supposes.
The first part is a general approach to market failures, an analysis of the conditions or circumstances that cause the failure of a product in the market and the product development strategies used nowadays or marketing strategies to follow to make it a success.
These strategies begin with the identification of a customer need. The end of the new product development process is the creation of the knowledge necessary to deliver a product which fulfills customer requirements. Products that do not fulfill consumer needs or wants will fail. To reduce the chance of failure there are many tools to help identify consumer attitudes and preferences.
In a second part, this general approach will be applied in a case study. The failure study will be focused on the Spanish multimedia industry in the United States, particularly the inability of the newscast Noticiero Telemundo reach the level of viewers initially expected.
The causes that may have inducted the failure of a newscast are deeply analyzed and extensive research has been conducted to determine the characteristics of both the analyzed program and its substitute products to viewers. By contrasting the results with broadcast television experts and targeted viewers some change suggestions and recommendations will be made.
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