In today’s fragmented marketing environment, it is harder than ever to launch successful innovations. There are several criteria that lead to successful products, some of them are shown in the image below. Innovation isn’t important unless you want your business to survive. However, out of every 100 new consumer products that come to market, 80% to 90% fail. This results in retiring innovations from the market in only 12 months after market launch. Marketers and business owners are looking for options that help in minimizing the risk of failure and increase the probability of a successful launch of new products and services.