This work offers a summary of the book "BLOCKBUSTERS: The Five Keys to Developing Great New Products" by Gary Lynn and Richard Reilly.
Gary Lynn and Richard Reilly are both professors at the Stevens Institute of Technology. Lynn specializes in product design and new product launches. Reilly is a recognized authority on individual and team assessments.
In Blockbusters, they argue that "great companies succeed and endure because they continually produce great products. (…) To produce real value, companies must develop and launch great, blockbuster products".
A 10-year research program found five best practices for developing great new products.
"We believe that if your team excels at these five practices, its probability of failure is virtually zero. That’s our promise, and it’s a promise that we have demonstrated statistically. (…) It is about creating a blockbuster new product that knocks your competitor out of the box, sets a new standard for your industry, and possibly creates a new product category. The five essential practices can help you launch one – not a family of them, just one – blockbuster product per division."
If you wish to learn how to develop blockbuster products, Blockbusters is the book you need.