Final answer:
Targeting the wrong segment and poor positioning are key factors in new product failure rates, as they can lead to products that do not meet consumer needs or stand out in the marketplace.
Step-by-step explanation:
True, targeting the wrong segment and poor positioning are indeed contributing factors to the increased failure rates for new products. When a new product is developed, it's crucial that the team understands the market and the customer segments they intend to reach. Poor design decisions early in the process can lead to a product that does not align with the needs and preferences of the intended consumers. Consequently, if the product is poorly positioned or if it targets the wrong segment, it's likely to result in low acceptance and high failure rates in the market. Positioning is about the way potential buyers perceive the product compared to its competitors, while identifying the right target segment ensures that marketing efforts are directed toward consumers who are more likely to benefit from and purchase the product