Industry leaders continually invest in refining and evolving their current product/service assortment through new product development. They do this to remain competitive as well as to generate measurable new top-line revenue for their organizations. Yet, the failure rate for new product introductions remains frighteningly high. Ask anyone what percentage of new products fail. The usual answer is somewhere between 70-90 percent.Market Research can help reduce the failure rate considerably when applied relevantly and conducted correctly. But, there are five pitfalls that need to be avoided;