Introduction It is vital for a business to have a broad future vision, a vision to be a successful leader in whichever field it operates. To be a successful leader, company needs to develop new products and services from time to time. Product and service development has been important in the past and it's getting increasingly important in today's highly competitive business world as markets are becoming fragmented, competition is getting stronger and product life …showed first 75 words of 596 total…

…showed last 75 words of 596 total…outpace the DVD makers. Conclusion Every business's aim would obviously be to become the best player in the market. In order to achieve the status of the best player businesses needs to offer unique products and services to its customers. And the only way to offer unique products & services to customers is via constant product & service development. Hence, product and service development has become a core issue (Slack:2002 Pg:391) for almost all businesses.