Effect of Advertisement on Sales

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MKT 321: MARKETING RESEARCH METHODS
JAN - APRIL 2013
 
CAT 1
 
Using the knowledge and skills acquired in this course (Research methods) explain how would improve the performance of your Research and Development Department in a firm (15 marks) A research and development (R&D) department in a firm is responsible for innovations in design, products, and style. This department is responsible for creating innovative new products to keep companies a step ahead of the competition. Many companies also rely on the R&D department to improve existing consumer products, and to explore new ways of producing them. Companies thrive and succeed by creating innovative products, as well as by increasing company profit and utilizing cost-efficient methods. A research and development department is primarily responsible for ensuring that these goals are met. This is an especially important function in the fields of manufacturing and pharmaceuticals, but can be applied to virtually any industry. Often, research and development works closely with the marketing department. Marketing studies consumer trends by surveying and researching consumer demands, purchasing methods, product sales, and the existence and development of technology across the relevant market. The marketing department gathers all the data, and makes this information available to the R&D department, which will take action in response to the findings and proceed to keep the company on top of current market needs. Consumer demands often change very quickly, and the research and development department must be alert and adapt to these market fluctuations accordingly. I would invest a substantial amount of money to research and development so that it can continually modify and update the firm’s products to preserve a brand's position within the market. This is because even if our product would be leading in the market, however much it is a key product, usually will not remain in the number one market position forever without some type of improvement and advancement. Research and development department software

The progress of innovation research and product development requires a good balance between the team and management involved in R&D projects. VIP Task Manager provides this balance and allows to manage R&D projects and activities effectively.  The software helps to carry information on the latest developments and coordinate the resource assignment to new promising projects in efficient and timely way. VIP Task Manager can be used as R&D project management software for organizing the workflow of the department. The software gives the following options Quality is a major issue and R&D department is deeply involved in ensuring quality of new products and attaining the required levels of regulatory requirements. In cooperation with the quality assurance department, R&D department develops a quality plan for new products. When a company sells a product on the marketplace, it should keep regulatory compliance with legal requirements. By using Centriqs, the R&D managers can organize the workflow for researches and development of new products. In Centriqs, there can be used task templates for researches of typical products as well as for a new product specification development. The software allows to add new workflow with specific task statuses. By introducing Centriqs shareware into the workflow, the R&D department can effective cooperate with QA department through sharing tasks and projects aimed to development of quality plans for new products. The R&D managers can use the Files view to upload regulatory documents to the database and attach documents to required tasks shared between engineers, technicians and scientists. |

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Research and development department goals/tasks
The main goal of the R&D department is to provide the organization with pro-active leadership in the industry and strong competitive advantages...
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