Synopsis One of the compulsions of a competitive market is the need to innovate and churn out new products. Besides competition, the customers also contribute significantly, as they are always looking out for better products. Adapting existing technologies and applying cutting-edge technologies to different fields is another facilitator. However, there are several critical issues in developing new products like multiple screenings, balance between aesthetic design and product functionality, intellectual property rights, fast time-to-market, etc.