There is some confusion if Product Development and Research and Development or R&D are the same. Or do they have specific differences?
Product development is usually not part of R&D or research and development. But even though it is not part of Research and Development, the R&D and the Product Development team should work closely together. Research and Development, or R&D, looks at whether a product or service could be viable in the marketplace, and Product Development looks at all aspects of the product.
Research and Development are usually at the beginning of a product’s life cycle, whereas product development will look at the entire product life cycle.
Table of Contents
- Product Development And R&D Explained
- Product Development Vs. R&D Explained
- Related Content
Product Development And R&D Explained
Sometimes it cannot be obvious to understand the difference between Product Development and R&D or Research and Development. Even though the two could have some similarities, they also have unique differences.
Product development can be part of Research and Development in a company. But at the same time, it does not do everything that a Research and Development team will do.
What Is R & D Or Research And Development?
Research and Development is also known as R&D. Research and development is a part of the business involved with developing or re-developing new products and services. Often within the research and development framework, companies, or even the government, will visualize new products and services.
The Research Phase Of R&D
The research portion of research and development, or R&D, is the part that will test the visibility or the potential of a new product. In other words, a company might have a new type of lamp socket that will revolutionize the lamp industry.
They may send that socket out to different people to test it or even have a focus group to let them know what they think about their new lamp socket. They will also send the socket out to be tested to decide if it could be a viable product.
The research and development phase is about discovering the same product, services or sciences that can be used to create a new product.
The Development Phase Of R&D
The development part of the research comes after the research has been done. Once something new has been discovered or created, and adequate research is done to know it is a viable product or service, the development phase will begin.
At the development phase of R&D, the company has the data to show that this will be a good product that can be offered, so now they have started to develop that product.
Why Do Companies Have R&D Or Research And Development?
Many companies will have Research and Development organizations within their structure. Companies will invest in R&D so their product line does not become outdated.
Trends, technology, and the ways people live their lives are constantly changing; companies need to be able to change with how people are changing. Research and Development, or R&D, allows a company to research and look at these changes in an organized fashion and way.
Because R&D can be such an essential part of a company’s overall profitability, many companies will keep their R&D departments in-house to protect their intellectual property, research and developments.
What Is Product Development?
Product development is not the same as research and development. Product development is the designing, creating, marketing, and selling a new product.
Product development’s primary focus is to create and market new products. Whereas Research and Development are usually concerned with the science behind why a new product is essential, product development is about the look and market of the product.
Product development is not just exclusive to designing new products. Many times an older product can be developed into a new product. Maybe a new finish or look is given to a new product to make it seem new when it is not.
Product Development Vs. R&D Explained
Product Development and Research and Development may seem the same, but they are different. They are usually two other areas of a product’s life cycle.
Research and Development, or R&D, is usually at the beginning of a product’s life cycle. The R&D is testing out the product to see if the product is even viable or something that should be brought to the marketplace.
Research and development is the first step to developing a product but not the step of developing, creating, or designing a product.
Product development looks at the entire product’s life cycle. A good product developer will look at the research and then the product’s development along with the product’s design and marketing.
Product development looks at the entire product’s lifecycle and development; they will also look at the product’s marketing and sales. So even though they have some similarities, they also have some differences.
To develop viable products, the Research and Development arm of a company needs to work closely with the Product development arm of the company; the two departments and functions need to be able to share knowledge and information.
Even though they are not precisely the same, they depend upon each other to develop the best product possible.
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