The success rate of new products, can be challenging to determine, as success is often subjective and can be measured in various ways. However, industry studies have suggested that a relatively low percentage of new products achieve significant success, with HBR report estimating that only 28% of new products in general are successful. The success rate for freemium products, is often estimated to be even lower, at 2-5%. The success rate for mobile apps is also reported to be low, with some estimates suggesting that only 1% of mobile apps are successful. These statistics highlight the challenges of launching and successfully marketing new products in a competitive and rapidly evolving marketplace. Designing, driving, launching, and marketing both 0-1 and 1-N products can be complex and challenging processes that require a combination of skills and expertise.
For 0-1 products, the focus is often on creating a new and innovative product that solves a unique problem or addresses a new opportunity in the market. This requires a deep understanding of user needs, market trends, and technological capabilities, as well as a focus on design and user experience. The launch and marketing of 0-1 products is often focused on creating awareness and establishing the product as a new category leader.
For 1-N products, the focus is often on scaling and expanding an existing product or concept, leveraging the strengths and existing assets of the original product. This often requires a different set of skills, including market analysis, product optimization, and a focus on growth and sustainability. The launch and marketing of 1-N products is often focused on reaching new audiences, establishing partnerships, and expanding distribution.
Regardless of whether a product is 0-1 or 1-N, successful product design, launch, and marketing require a deep understanding of the market, the customer, and the competition, as well as a strong focus on delivering value to the end-user.