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Investments in R&D are aimed at increasing a company’s long-term profits. In this way, a company can improve its products, develop new products, and create new markets for its products. The company can also reduce the cost of producing and marketing these products, which increases the rate of return.
Deciding the role of R&D in a company’s strategy ultimately depends on each individual company’s business goals. Most companies use R&D for more than just product research. These companies may hire a dedicated team or use their R&D departments for market research, strategic planning, or even to help with sales and marketing.