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Thousands of new products are launched every business day… Most either fail or have only modest success. Those making a splash in their market niche usually do so for one of two reasons. Either the product fills a void or crucial need, or the company uses the right marketing technique to ensure success. Most successful new products fall into the latter category.Most larger companies have in-house marketing groups whose job is to formulate and execute a strategy for new product introduction, as well as to continually update and promote existing ones. Established brand names with widespread or universal recognition often