Industry Demand Statistics
Statistic |
Value |
Number of new products launched in the UK in 2020 |
30,000 |
Percentage of new products that fail within the first year |
80% |
Percentage of companies that conduct market research before launching a new product |
75% |
Launching a new product in the UK market is a challenging task, with a high failure rate of 80% within the first year. To increase the chances of success, companies need to conduct thorough market research before launching a product. Understanding market research for product launch strategies is crucial for identifying consumer needs, preferences, and market trends.
The Professional Certificate in Understanding Market Research for Product Launch Strategies provides individuals with the knowledge and skills needed to conduct effective market research and develop successful product launch strategies. By completing this certificate, professionals can enhance their ability to launch products that meet consumer demands and achieve market success.