"App installation failed: Could not inspect application package"
Go to Window->Projects (xcode6.3.2) and look for your project and delete 'Derived Data' for all your projects with the same name.
I had the same problem, and it works for me.
If above doesn't work try following:
- Prodct => Clean
- Check for your product name. If there are non-latin characters or space then remove it.
- If you have moved or copied a folder named resources or resource into your project, try renaming it. Then perform a clean.