Discuss the product development strategy

What will be an ideal response?

ANSWER: A product development strategy entails the creation of new products for present markets. In January 2014, Beats Electronics launched Beats Musicâ€" a subscription-based streaming music service that offers advanced personalization systems and forward-thinking family sharing plans. Beats hopes this service's novel features, sleek design, and celebrity endorsements will catapult it to the front of the music streaming pack, which is currently fronted by competitors such as Spotify and Rdio.