Only 1 Out Of Every 7 Product Ideas Will Yield A Successful Product

McKinsey (2018)

According to a recent study by McKinsey, only one out of every seven product ideas will yield a successful product. This means that the vast majority of products fail to meet the needs of customers or to generate sufficient revenue to be viable. There are many reasons why products fail, but one of the most common is that they are not well differentiated from existing products on the market. In order to succeed, businesses need to ensure that their products offer something unique that cannot be found elsewhere. They also need to carefully research their target market and ensure that there is a demand for their product. With so many products failing to make it to market, it's clear that launching a successful product is no easy task. However, with careful planning and execution, it is possible to create a successful product that meets the needs of consumers and generates significant profits.