New Products

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Abstract
What are the keys to superior new product performance? Integrates the results of several of NewProd studies of hundreds of new product successes and failures. Identifies the key drivers of new product performance, where “performance” is measured in a variety of ways, including profitability, market share, meeting objectives, impact on the company and speed to market. Derives eight key lessons from the studies: the need for product superiority; a strong market orientation; solid up‐front homework; early and sharp product definition; a cross‐functional team approach; focus and project prioritization; quality of execution; and a systematic stage‐and‐gate new product process. Explains the implications of each of these eight factors – what they mean in terms of management action. Cycle time reduction and time to market are overriding concerns in the study. Identifies the four most important determinants of cycle time reduction.

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