Thursday, February 24, 2011

Making it Relevant

The demands of the market altered.

The Ford Edsel was one of Ford's best-researched product concepts ever. Market analysis had led Fort to believe that a new luxury car priced in between its two nearest rivals would be an instant hit.

The car was developed at great expense hyped with aggressive marketing, and released with much fanfare in 1957, but the final product failed. The Edsel was conceived during the economic growth of the early 1950's. By the time of its release in 1957, the US was on the brink of a recession, and consumers were turning to smaller cheaper cars. The demands of the market altered.

ACTION POINT: The Edsel remains a classic example of the dangers of not reviewing an innovation process.

No comments: