Research Paper on:
Development and Research

Unformatted Sample Text from the Research Paper:
level have contributed to the development of major industries will be explained as well. THE IMPORTANCE OF RESEARCH AND DEVELOPMENT Primary data is that research that you can either  do yourself or pay someone else to do. It is information that is collected specifically for the purpose at hand. Its overriding benefit is that it is customized  for the specific needs of the company. However, primary research is time-consuming and expensive (Cross 2000). Failure to research the market adequately in the very early stages of  research and development is the primary reason for most product failures. But how does a company effectively research the market for a new product? For instance, how would  a computer company plan to target the business market for their computers? The first step is to change perspective. Instead of focusing on the features of the new  computer or service idea, list the benefits that the product or service would deliver to the customer. This exercise will force the company to come to grips with the  issue of need. The benefits that are identified are benefits because they "satisfy some specific and describable need" (Duncan 1992, 39). Perhaps one of the most innovative  current products that is in constant need of research and development is in the video gaming industry. The research and development that goes into new games and the subsequent  profits when one is a complete success is proof positive that research and development definitely affects the bottom line of any corporation. Before undertaking any primary research study, marketers can  and should complete an extensive search of already existing or secondary research. There is an enormous amount of secondary research already available to assist managers in assessing clients, pinpointing