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Business Report In order for a business to keep up with consumer/public demand and taste, new products must be developed. All products have a ‘life cycle’, and as they lose their novelty, consumers expect new products. New Product Design: The design of new products begins with market research into consumer wants, trends, needs and tastes. Products do not necessarily need to be ‘new’, old products can be improved upon and reintroduced. New flavours can be made, or new looks can be acquired. Renewal: An existing product can be i