MIT: consumers with bad taste, harbingers of failure, potential to change management practice

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https://news.mit.edu/2015/harbinger-failure-consumers-unpopular-products-1223
“Who exactly buys these things, anyway?”
“Now a published study co-authored by two MIT professors answers that question (…) provide a new window into consumer behavior.”
-The study itself draws upon two large data sets from a large chain of convenience stores that reaches across the U.S.
-They defined a failed product as one pulled from stores less than three years after its introduction; only about 40 percent of the new products survived that long.
-“People who are more willing to take a risk on an unusual product are more willing to take a risk in multiple categories.”

The paper detailing the study’s results is published in the Journal of Marketing Research. The co-authors are Simester, who is the Nanyang Technological University Professor of Marketing at the MIT Sloan School of Management; Tucker, the Sloan Distinguished Professor of Management at MIT Sloan; Eric Anderson, a professor of marketing at Northwestern University’s Kellogg School of Management; and Song Lin, an assistant professor at Hong Kong University of Science and Technology’s business school.