Shaktee case

Questions:
1. Problem in the case
The few problems which identified in the case for –
 High cost of research in development
 Time consuming process
 Approval from the industry
 Reluctance of the industry to adopt the new product

2. Why product innovation fails

There can be various reasons due to which product innovation fails -
 Heavy research and development cost
 Time-consuming method
 Standardization approvals from government
 Lack of resources with the organization

3. How would you minimize the failure of New Product in your organization 
 Better research about the market
 Competitors analysis
 Develop product blueprint
 Test the prototype
 Thoroughly analyzing the data generated from the prototype testing and
making modifications as per the requirement
 Develop multiple checkpoints to check the quality
 Developing proper distribution channel