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what is meant by product led and market led new product developmrnt approaches?

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15y ago

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How might the organizational design of a research and development firm in the pharmaceutical industry differ from the organizational design of a consumer food products manufacturer?

Research and development is the practice or business unit involved with developing or enhancing new products and services . Often in research . and development , companies or governments Conceptualize new products . The in portion occurs when a company's texts the viability of a potential product . This is the act of discovering new sciences that can be used to create new products . The development portion comes after the research and in the act of turning the discovered science into a useful product that the company can market and sell . to gain Companies invest in research and development when their product lines become out dated , or maintain a competative edge , or when competitors create similar or superior . products . Research and development is vital for the sustained growth and success of a company .Research and development activities ( an differ among companies with in industry and across different industries , and they can be assigned in - house or to contracted third - parties . Many companies contain their RO Dresponsibilities in - house to protect intellectual property . On the other hand , product development is the entire process of researching , designing , creating , marketing , and selling new products . Research and development is elrentially the first step in developing a new product , but product development is not exclusively research and development . It is the entire product life cycle , from conception to sale . Product development is also not exclusive to designing , implementing , and selling new products . Existing products can go through product development to revamp old features or add new features so the product sells better or adds greater value to consumers . Any time a new product is created and sold - or any . time an existing product has added features and is resold - it is going through product development .


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