Why products fail in market ? Explain different reason of products failure in details

Sometimes products fail in the market because they don’t meet the needs or wants of customers. For example, if a company creates a toy that is too complicated for kids to play with, it might not sell well. This is like if you tried to give your friend a puzzle that was too hard for them to solve. Another reason products fail is because of poor marketing. If a company doesn’t promote their product well, people might not even know it exists. This is like if you had a secret recipe for the best cookies ever, but you never told anyone about it. Sometimes products fail because of bad quality. If a product breaks easily or doesn’t work the way it’s supposed to, customers won’t want to buy it. This is like if you bought a toy that fell apart the first time you played with it. According to a study by Harvard Business School, about 75% of new products fail in the market. This shows that it’s important for companies to do their research and make sure they are creating products that people actually want and need.