Often overseas companies come across various challenges while selecting a partner to cater to multiple geographical locations. Where a partner could lead to product failures, and loss of an opportunity could be more expensive.

 

Nobody needs these failures, but what choice is there? Few companies succeed in the long term if they don’t continually reinvent their offerings.

 

The good news is that many of the problems underlying failure are preventable. The economic attractiveness of new (and existing) products can reveal itself via a thorough examination of market, channel and customer behaviours. Add an understanding of competitive edge, cost dynamics and evaluating internal capabilities to the mix and companies may look for untapped opportunities for new product concepts.