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Formula for Success in New Product Development

Robert G. Cooper

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Have you ever wondered why some companies make product innovation seem so easy—generating one big winner after another? Here is a startling fact: New-product development (NPD) productivity in the top performing company is five times what it is in the average company. The top performer gets five times as much new-product output for the same investment. For the rest of us, developing a steady stream of successful new products is a real challenge. Many businesses use the Stage-Gate® process to conceive, develop, and launch new products. But proficient companies have implemented, modified, adapted, and improved the methodology; it has morphed into a faster, leaner, and more effective tool. The next generation process, or NexGen Stage-Gate, builds in seven principles of lean, rapid, and profitable new-product development to maximize productivity in product innovation.