Leveraging programs, products, and services is a tremendous opportunity. Deriva- tives or spin-offs can expand your reach, while enabling you to meet your mission and margin objectives. They can even outperform the parent product (see my December 1998, March/April 1999, and June 1999 columns). But, while extensions often seem like a safe bet, the odds of winning may be longer than they look. Introducing a new product is risky; 80 percent fail in a few years. The risks include channel ...

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