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Research and development consists of the scientific and marketing evolution involved in creating or discovering new products or services. Research and development often takes place in laboratories. Once research and development laboratories have identified or created such a product, marketing specialists will attempt to define the market for the product. Then, steps are taken to manufacture the product to meet the needs of the market. In industries such as high-technology and pharmaceuticals, research and development laboratories are a crucial part of the business, since products are outdated or attract competition quickly. The types of research and development commonly carried out in R&D laboratories include basic research, applied research, product development.
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