- Continuously advances products.
- Vital to survival to remain competitive.
- Can generate first mover advantage (being the first firm to release a product).
- Helps to prolong products.
- Ensures that products are made to the taste of consumers.
- Reduces risk of releasing a product.
Importance of research and development
Importance of research and development...Research and development, a phrase unheard of in the early part of the 20th century, has since become a universal watchword in industrialized...
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