Examlex
The very first step in the marketing process is to understand customer needs.
New Product
An item recently introduced to the market that fulfills a need or niche not met by existing products.
Research and Development
The iterative process of systematic work undertaken to increase the stock of knowledge and use this knowledge to devise new applications.
Patent Protection
Legal rights granted to inventors that prevent others from making, using, or selling their invention for a certain period of time.
Applied Research
Research aimed at solving practical problems and developing new technologies, as opposed to theoretical or basic research.
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