New products can be a company's life-blood, generating fresh revenue streams, boosting visibility and creating new customer franchises to build on.

The biggest mistake company’s make is giving up on a good idea before it becomes great—and it can become great. To help our clients beat the odds, we created an innovative and proprietary system for product development—Lieberman Laboratory®. It breaks with convention by offering an interpolative decision-making environment based on more thorough and far fewer data sets than previous industry norms.

And its 5-step process works—but not by starting with the idea:

• Phase 1—Conduct a Needs Analysis
  Who is our target? How do we segment them? What do they need?

• Phase 2—Brainstorm Solutions
  Gather the right players for Ideation™ "structured creativity" solution sessions.

• Phase 3—Nurture
  Take the good ideas and make them great using Evolution®, our proprietary iterative qualitative process.

• Phase 4—Optimize your Execution
  Test your concept, package, price, etc to make sure they both deliver on their promise and resonate with your target.

• Phase 5—Demand Forecasting
  Simultaneously test multiple product configurations by employing choice modeling, rather than simply Bases tests.

With new product breakthroughs few and far between, you can rest assured knowing that with LRW by your side, high-potential ideas won’t disappear. Our Lieberman Laboratory® process doesn't stop when the product is launched—it continues to guide you through roll out adapting for new markets and new targets with testing, forecasting and impact.