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Why do new services often fail? Can you provide an example of a recent failed service?...

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General Management

Why do new services often fail? Can you provide an example of arecent failed service? What were the causes of this failed service?What could have been done to succeed?

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New services often fail because of the following reasons Lack of knowledge on the market conditions including correct positioning in the market Failure to understand the customer needs Failure to identify the potential problems the business may face and make the necessary arrangements to meet the difficulties Wrong pricing strategies which    See Answer
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