Research and Development plays a critical role in the innovation process. It’s essentially an investment in technology and future capabilities, which is transformed into new products, processes, and services. In IT industry, R&D is a crucial component of innovation and a key factor in developing new competitive products.
We at CodeMatics perform original investigations or apply research findings to gain new knowledge and use this knowledge to create new or improved technologies intended to provide a competitive advantage for your business or product.
All of our products and projects are completely research based. We go through the following stages of R&D while launching a product:
1. Idea Generation:
This is the initial stage where a business sources for ideas regarding a new product.
The generated ideas have to go through a screening process to filter out the viable ones.
3. Concept Development:
The enterprise undertakes research to find out the potential costs, revenues and profits arising from the product.
If the new idea survives the concept development and testing phase, a business is put together a formal analysis of the new product’s viability.
5. Product development:
Product development entails the actual design and manufacture of the product.
6. Market Testing:
In short, market testing takes the product and offers it to a limited group or geographic region.
The commercialization phase consists of making the product available to the customer base at large and launching a marketing effort to support it.