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The Minneapolis Star Tribune reports on the “orphans” that are failed food product introductions, noting that just under a quarter of all the new brands introduced in 2002 generated more than $7.5 million in sales, and less than 2.4 percent earned more than $50 in annual revenues.

Ironically, of course, this kind of failure rate seems to be both necessary and acceptable – necessary for manufacturers to maintain a high level of visibility with consumers, and acceptable to Wall Street, which seems to believe that batting .100 is good enough in a tough environment.
KC's View:
We’re trying to think of another industry or circumstance in which a 10 percent success rate would be considered good enough. We can’t – but are open to any nominations that MNB user would like to make.

Of course, the real problem isn’t the failure or success rate, but the fact that too many manufacturers are creating products that are me-too offerings that are neither innovative nor relevant. Maybe the bar needs to be raised.