<P> New product design and development is more often than not a crucial factor in the survival of a company . In a global industrial landscape that is changing fast, firms must continually revise their design and range of products . This is necessary as well due to the fierce competition and the evolving preferences of consumers . Without an R&D program, a firm must rely on strategic alliances, acquisitions, and networks to tap into the innovations of others . </P> <P> A system driven by marketing is one that puts the customer needs first, and produces goods that are known to sell . Market research is carried out, which establishes the needs of consumers and the potential niche market of a new product . If the development is technology driven, R&D is directed toward developing products to meet the unmet needs . </P> <P> In general, research and development activities are conducted by specialized units or centers belonging to a company, or can be out - sourced to a contract research organization, universities, or state agencies . In the context of commerce, "research and development" normally refers to future - oriented, longer - term activities in science or technology, using similar techniques to scientific research but directed toward desired outcomes and with broad forecasts of commercial yield . </P> <P> Statistics on organizations devoted to "R&D" may express the state of an industry, the degree of competition or the lure of progress . Some common measures include: budgets, numbers of patents or on rates of peer - reviewed publications . Bank ratios are one of the best measures, because they are continuously maintained, public and reflect risk . </P>

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