research and development (R&D)
Definition:
A planned search or critical investigation aimed at discovery of new knowledge with the objective that such new knowledge will be translated into a plan, or design for new, modified or improved products and processes.
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Kevin A. Boyle], [1998].