https://phys.org/news/2018-07-focuses-impact-strategic.html

"When people know that a new version of a product is coming, they either wait to buy the new one, or when the new one comes, they buy the old one at a discounted price," Sethi said. "Some people just want to have the newest products. Others wait until the new product becomes bug-free or less expensive."

The paper uses Apple and Zara as examples of companies that make significant investments in research and development activities and frequently bring out new products.