Research and development (R&D) and the product lifecycle

In a nostalgic reflection on childhood experiences with LEGO, the narrative highlights the company's commitment to research and development (R&D) as a cornerstone of its success and innovation. R&D is defined as activities and investments aimed at creating new products, improving existing ones, and advancing knowledge, driving growth, and maintaining competitiveness. The text explores different types of R&D, such as basic, applied, and experimental development, using LEGO as a case study to illustrate its impact on product development and market success. LEGO's focus on sustainable production, user-centered design, and collaboration with external partners exemplifies how R&D influences product innovation and go-to-market strategies. The discussion emphasizes the importance of a systematic approach to R&D, fostering a culture of innovation, and the necessity of analyzing and interpreting R&D results to inform future decisions and ensure continued progress and customer satisfaction.

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