discussion

In modernized marketplace innovation and new products acts as an instrument for growth. Innovation is a process which explores to build, swap, grow, and administer advanced concepts to produce goods and services that anticipate and commit to lead victory and achievement for a firm. This acts as guide for the firms to contribute appropriate budget for R&D and introduce new innovating strategies for new products and services for the survival of the firms and sustain competition. Customer satisfaction plays a crucial role in the success and growth of a product, as the prime reason for innovating and introducing the new product is to satisfy and benefit them and expect revenues. A new product development involves idea generation, screening, market potential, concept testing, design, and development, and launch or commercialization. Every product has four stages common in their life cycle they are introduction, growth, maturity and fall stages. Innovation theory is a process which demonstrates and convey how, why, and at what rate idea or product or technology attains strength and spreads over in the society or specific market resulting in accepting the idea or product which facilitates in success of the firm. The relation between new product and marketing strategy is to decide a way to attain the targeted customer and transform them to prospective customers by proper planning, targeting, assembling, marketing, and launching the new product or service. Global markets are continuously emerging resulting in competitive environment associated with new product or technology or service, price, competitors etc., for surviving and attaining success firm should come with new strategies and innovative ideas to tackle the challenges and attain new opportunities for growth (Iacobucci, 2018, pp. 109-126).

Aging first influence the capacity of product presence in market over time resulting in deprivation of product type in competing market. Firms will look for new and updated versions or new product line to replace or modify the old product to raise the revenues, competence which help in sustaining of the company. Environmental factors like cultural, economic, demographic, physical, technological, or political environment will influence advancement, improvement, success, and survival of a firm internally and externally. China produces several new products which are easy to use and are available at low prices which acts as a competitive factor for many companies even the quality is not up to standards. The key components that impact the progress of greener products and highlight innovation of new product according to current environment and its life cycle management. The issues faced in the product cycle, improvements to be made and helps to resolve them in the future for better understanding (Paulo et al, 2016, pp 4547–4567).

Johnson & Johnson has established the key assets and skills required to succeed in business and have defined its distinct competitive advantage, so it needs to communicate in a strategic form that will attract market share as well as defend it. J&J plans in development of personalized drugs that work best on specific genetic profiles. Continued smart purchasing of companies with complementary products, by this there is a certain increase in pressure to move to generic drugs and will have stiff competition, so need to keep one step ahead of other competitors. As there are a wide range of products with good quality there are repeated and loyal customers. More amount on R&D and always comes up with new products to sustain the market (Lee, 2019, pp. 155-171).

Google maps continuously transformed its web design in the last 13 years and also contains buttons graphic presentation, layout and the changes in the website functionality and the modifications and constant improvement in google maps application for desktop computers and laptops, mobile application. The results of the study validate the altercation that it is feasible to acclimate the current theory of continuous change, to the demand of internet cartography, to make it user friendly, evaluation of google maps and other internet maps. Several changes like increasing the intuitiveness, transition from buttons with subtitles to pictorial representations, user friendly desktop, laptops and mobiles, full-screen view, screen resolution, etc, (Horbiński et al, 2019, pp. 177-190).

Apple is one of the leading brands in the world that have innovative approach in all their products with new updates every year. I would like to see a virtual reality headset from apple as new product line because with its approach on new technology it can be leader in that product. The current trends on virtual headset has increased because it has been widely used to many industries and by household purposes as it gives the 360o view and real feeling of the atmosphere. When the requirement meets with innovative thinking it can move to next level with better experience with the product.