We currently live in a very fast paced environment. It's become a very competitive corporate world where it's the products which decide on the fate of the company. New products ideas float around almost everywhere, but not every one of them becomes the next big thing in the market. Even the biggest of companies fail to survive, with Nokia being a prime example of the above.
Product development is an art in itself and when mastered, will hold potential to propel your company up the competition list.