Providing Viewpoints Regarding New Product Profitability

New Product Profitability Viewpoint
Student’s name
Institution
New Product Profitability Viewpoint
The introduction of a new product into an existing or emerging market presents as much risk as to the anticipated value addition to the company. Lack of innovativeness and a differentiation strategy pose a major risk to product introduction success. Nonetheless, with the appropriate innovativeness and differentiation strategies that capture the customers’ concerns, a new product has the potential to become a success and grow exponentially. Zero Waste mascara brand launched in April 2021 by one of the startup companies in the beauty industry, Izzy, is one example of a new product that can potentially disrupt the beauty industry by a huge magnitude (Utroske, 2021). Thus, there are tangible justifications for the potential growth and profitability of the product in the near future.
Zero Waste mascara has been developed with the notion of sustainability at the center. Sustainability has been a major concern in all industry sectors in the current era where climate change triggered by human activity is threatening the human race. The need to hav...