Really? You have been working an agency for a year. Most companies I know don’t use agencies for product development. How many market evaluations have you done in the field with prototypes in the last year? I’d say my folks are in the 20-30/year range.
It happens.
That would be a bad assumption. I would recommend, again, actually educating yourself about new product development by getting your foot in with what you know instead of what you don’t know.