The Impact of Consumers' Commitment to Existing Brands on New Product Launch Strategies
Jan Hofmeyrand John RiceResearch Surveys Ltd. & Mantis International Marketing Consultancy, S. Africa
INTRODUCTION
Concept and product testing have become increasingly accurate over the years as a means to forecast new product sales. So much so that by the early 1990s, marketers in most developed countries no longer had to guess whether or not their new product ideas would be successful. Yet, as Bennett and Davis report (1996), the failure rate for new product launches continues to be extraordinarily high. In the United...