Creating breakthrough products from hidden needs

Many managers want their organizations to develop breakthrough products and ask their R&D departments to come up with the equivalent of the iPod or iPhone. Unfortunately, the reality is very different-most organizations struggle to come up with novel product concepts, and of the thousands of new products introduced worldwide each year, product failure is more common than success. What are the reasons for product failure and what steps can companies take to avoid it? In this article we explain the key lessons from innovation research and how managers can apply them.