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Res ea rch & De velop ment St ra t eg i es
Author [Type the company name] 9/1/2009
Re se ar c h and De ve lopme nt Str ate gies Table of Contents
Introduction ........................................................................................................................................... 1 What is Research and Development? .................................................................................................. 1 Product Research and Development ................................................................................................ 2 New Product Design and Development .......................................................................................... 3 The Commercial Benefits of Research and Development ................................................................. 4 Exploring Your Ideas ........................................................................................................................... 6 Manage Your Research, Design and Development ............................................................................ 8 The Commercial Benefits of Research and Development ............................................................. 8 Protecting Intellectual Property ....................................................................................................... 9 The Basics of Branding .................................................................................................................... 9 Research and Development Investments and Risks ......................................................................... 10 Investments ..................................................................................................................................... 10 Government Support ...................................................................................................................... 10 The Risks of Research and Development ..................................................................................... 11 Funding Your Research and Development ....................................................................................... 12 Knowing When to Stop ...................................................................................................................... 13 Summary ............................................................................................................................................. 14 Research and Development Strategic Innovations ....................................................................... 14
Re se ar c h and De ve lopme nt Str ate gies
Introduction
What is Re searc h and Deve lopme nt?
W
hen most people think of research and development (R & D), they immediately associate it with the part of the company that is responsible for inventing new products. This is very important; however, further developing existing products is
equally as important. This is true because consumer preferences constantly change. The chief job of product research and development is to come up with goods and services that meet the needs of the consumers of tomorrow. In a company that is well run, research and development have functions that are firmly commercial. Their function is to come up with better products, to improve operational processes and to provide expert advice to the rest of the company and to customers.
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Production design and development
Market research to find out what is wanted
Prototypes
Pre production run?
Test marketing?
Production
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Information source: http://www.thetimes100.co.uk/theory/theory--research-development--276.php
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Re se ar c h and De ve lopme nt Str ate gies
Product R esearch and Development
A lot of research is not expected to pay for itself within a foreseeable span of time. Large sized companies can allot as much as one-tenth of their research budgets to what is referred to as „blue-sky‟ investigations. This is the research that‟s contribution is most likely to end up in the development of new products, and possibly pay off sometime in the distant future. Personnel who work directly on a project, and who affect your work either upwards or downwards is viewed as an internal customer. If there are no internal customers for work from any area of the company, the research project does not fit in to the company‟s development process, and it will not succeed. Product research and development goes together with market research and development. These two teams must be constant liaisons, and as such, their processes should be standardized. Establishing a production process or a new line may involve substantial expenditures. The vigilant work that is done in the earlier stages helps to ensure that profits are actually realized. Product researchers use marketing information to assist them with developing products or services, and with choosing appropriate designs. Simply put, design is the art of taking things that are of quality, and/or attractively packaging or presenting them for consumers to buy. For example, the layout of a supermarket, a bookstore, or a drive up fast food restaurant has to be designed. A consumer has to be able to quickly find what they want. In circumstances like this, the proper use and allocation of space is vital in order to guarantee a profit. The idea of service is a major factor. Many quality retailers give significance to various aspects of their customer service programs, like making sure the help desks are clearly visible, or that there are greeters at the doors on standby and ready to assist. In addition, product researchers have to also consider production costs, how easy it is to manufacture the configuration, which will ultimately drive the selling price. An agency may be reluctant to change an earlier design, especially if it gives them status, for example a designer label on a man‟s suit or a woman‟s shoe. Small cosmetic changes can be made to a product in order to bring them back up-to-date like slightly modifying the log