Overview
Successful development of products is an important cornerstone for the success of any firm. Thus, there exist significant incentives for the firms to introduce new and viable products to markets. Also, the payoff regarding financial success can help enhance a firm’s profitability and growth that is not achievable with existing services and products that could be nearing the maturity stage in their cycle. Finally, development of new products can be a source of important economies of scale for a firm (Rajiv and Naresh, 2008). In that view, Apple considers extending its product line and seeks to conduct a ...