Keeping your business competitive means making sure your products and services meet your customers’ needs, which may change over time. And the best way to do that is to invest time and money into market research.
The benefits of research and development
You can do your own research and development in-house or outsource it to external contractors. Either way, it lets you stay competitive and builds customer loyalty by:
boosting your sales
opening new markets – in the UK and overseas
improving your products and services, and developing new ones
enhancing your brand with a reputation as an innovative business
attracting the best employees (through your enhanced reputation)
finding new business partnerships
attracting external finance.