In spite of the huge resources and human efforts expended in product development, some products unfortunately fail to thrive in the market as desired by the producer/company..
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A research has identified some reason for this failures. SEE BELOW
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* Inadequate Market Analysis
* Product Deficiency
* Lack Of Marketing Effort
* High Cost Of Production
* Competitive Strength
* Poor timing of introduction
* Production Problem
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1) INADEQUATE MARKET  ANALYSIS. One of the reasons why new product fail is Inadequate Market Analysis, that is the inability to determine buying motives and habits and misjudgements as to what products the market wanted.
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2) PRODUCT DEFICIENCY : Another reason is that, your products did not offer any significant advantage over competing items ready in the market.
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3) LACK OF MARKETING EFFORT. The third reason is your in ability to provide sufficient marketing affects to support the sale of the new product.
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4) HIGH COST OF PRODUCTION: IF your new product is produced at a high cost it will lead to high prices and eventual to low sales volume than anticipated.
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5) COMPETITIVE STRENGTH: The strength of your marketing company relative to other competitors could also lead to the failure of new products.
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6) POOR TIMING OF INTRODUCTION : Introducing a new product too early or too late could also lead to product failure.
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7) Production Problem. If you could not produce sufficient quality to meet the market demand, you might be easily be exploited by your competitor.
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But the above into consideration and the sky will be your starting point.
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Source

http://www.nairatrace.com/2016/05/7-reasons-why-your-new-products-fail-in.html?m=1