Role Of Product Development Of Apple

New product development is the process of introducing a diverse product in the existing, emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for

New product dimensions or packaging: sometimes for the successful selling of the existing product it is necessary to repackage the product to open the new market. Apple can use different packaging technique according to the different age group of it customers.

III. New distribution channel: Apple should know that if they want to target a big audience they need to use more than one method. The organization cannot merely depend on newspaper and commercial advertisement but also they may need to transform from shop retailers to internet retailers as per the demand of the current need. These days people are more likely to shop online due to the busy life schedule therefore Apple can put their variety of the product online for its customers handiness.

3) Product Development Strategy:
Product development is the other strategy used to introduce a new product in the same prevailing market, product extension and product improvement. This strategy is considered to be risky as it involves new products development where the the end means remain the same that is the same market/customers. The business operators need to be engaged in continuous research and development (R&D) and customers need assessment while availing this

Concentric Diversification Strategy: with the help of earlier technology, new product is introduced in the new market. This is called concentric diversification Strategy. ii. Conglomerate diversification Strategy: Developing new products for new market in a multinational diversified strategy. iii. Horizontal diversification strategy: developing new products for old customers, using completely new technology. This is called horizontal diversificational strategy.
This strategy is considered to be at very high risk but on the other hand many organizations want to practice this due to the high level of profit and growth attached with it. The Apple has already practiced this strategy and they have faced a huge success by first introducing Ipads and Ipods, and later entered market with their Iwatches which are completely new product apart from the phones.
This strategy also has some approaches as:
a. Full diversification: this approach is is most risky as it is offering new product to a new market.
b. Backward diversification: this approach relates to preceding stage of the current existing