The activities related to bringing a new product to its target market. This process is one of the most hazardous areas of marketing, where reputations can be won and lost instantly. No one has yet devised a fail-safe marketing technique to make new product launches successful. At best, the marketer can reduce the likelihood of failure. Most new product launches fail because they misinterpret or ignore some vital part of the market they are targeting. These misinterpretations can range from an over-optimistic assessment of market demand, overpricing, or making the product or service too complex for current demand to mistiming market demand as many excellent products are simply launched before the market demand is of sufficient volume to ensure success. See also product life cycle; product marketing.