What are the barriers that a product may face when it is new to the market?

What are the barriers that a product may face when it is new to the market?

When a product is newly introduced in the market, it may face the following barriers:

a. Threat from the existing competitors: the old and existing firms may lower their prices of the products drastically to deter the new entrants from entering into the market.

b. Gaining acceptance: as the product is just introduced , the consumers may feel hesitant to try out the product and pay the price for it.

c. Government policies, rules and regulations: the government may impose certain rules and regulations in the market which may make it difficult for the new comers to survive such as taxes, tariffs etc.