Screening new products for potential winners

Key success factors - product superiority, upfront homework, strong market orientation and quality of execution of key activities in new product process - that significantly distinguish successful new product from unsuccessful ones were identified. Most companies were found to lack these key success factors. Thus, a stage-gate system, a formal process for moving a new product from idea stage to launching stage, is proposed. A report on the positive experience of some companies which implemented the stage-gate system is presented.