Login  |  Register

Latest links

Research & Development

Research and development undertaken on a periodic basis is essential for a company to obtain advantage over the competitors. Technology evolves very fast and so are the requirements of the consumers. Today’s technology will be soon obsolete with the invention of other competent equipments. A company that invests a lot has to ensure that its products stand superior in the market place. In order to achieve superiority over the rivals, the market research has to be carried out to assess the needs of the consumers. Based on the changed needs, each organization revises the design and range of their products. Usually, a fixed percentage of the revenue of the industrial companies are allotted for further research and development to improve their products. A more than significant amount of allowance for R&D is justified only when their consumers have extreme needs as in the case of the pharmaceutical industry.