Introduction

In the previous chapter we assessed the value of Templates in terms of their creativity and ideation. The results indicate that templates are likely to enhance creativity. However in marketing and new product development fields it is important to explore the relevance of a method not only with respect to its originality, but also to market success and failure rates. This chapter provides some information about and insights into this applied perspective.

Particularly in view of the distressingly low rate of success in new product introduction, it is important to identify predictive guidelines early in the new product development process so that better choices can be made and unnecessary costs avoided. In this chapter, we posit that the Templates and the Function Follows Forms principle can be utilized as a framework for early analysis based on the success potential embodied in the product idea itself and the circumstances of its emergence. We suggest that these factors, along with already known factors relating to success or failure, may aid estimation of the potential of a concept early in its development.

Predicting new product success

Introduction of new products is a major activity of firms. However, most of the 25,000 products introduced each year in the US fail [1,2].