The ability to compete globally is tied directly to creating something of value for customers.
In this, R&D plays a significant role (Table 16.2) It creates products that command premium prices or processes that improve productivity . In this context it stimulates both marketing and manufacturing. In the first place it can determine the venture ‘ s position as a niche or even focus player in the market and, perhaps, subsequently it can prompt efficiencies that allow a cost effective broad, marketing campaign.