In spite of definite customer demand, new products often fail due to:

one of the reasons for the failure of a product is due to poor commercialization. It is important for a certain product to be introduced to the consumers or in the general market.

In spite of definite customer demand, new products often fail due to poor commercialization. Commercialization is the act of a company marketing and launching a new product to consumers or new method into commerce to make the product available. In this situation, products often fail because the company’s are not doing their job in launching the product and consumers knowing it is available. Instead, their customers are waiting for them to launch something even though they did, they just didn’t know about it.

The correct answer is:   6.99 billion (as 6.986 billion is rounded off (to nearest hundredth place)  to 6.99 billion)explanation: the given function is:   y = 6.2(1.01)^x (1)where x =    number of years after 2000it means that in 2012, the value of x would be 12 as the difference between 2012 and 2000 is 12 years.put x = 12 in equation (1): (1) => y =  6.2(1.01)^12 = 6.986 billion = 6.99 billion