Discuss the below in a 300 words each:
Q1 - Apple's Newton, Coors Rocky Mountain Water, Cosmopolitan Yogurt, Sony's Betamax - are some of the better known failed new products; I'm sure you can think of many other examples.
Why do otherwise successful companies make such "mistakes"? What are some of the factors contributing to new product failure?
Q2 - Many new products undergo market testing before being launched on a full scale. Market testing is very common with consumer goods and with expensive industrial goods and new technologies.
Let's summarize and discuss some of the market testing methods that are most commonly used in practice.