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Access to expertise and resources: Carrying out the R&D process in-house means bringing in a team of experts, which is costly, and the hiring process time-consuming. It also requires investing in the necessary equipment. By collaborating with a contract manufacturer, instead, you can tap into their industry knowledge, expertise, and resources.
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One of the main benefits of consumer insights in the R&D process for beauty products is the ability to create products that meet consumer needs. For instance, if a company discovers through that their target market struggles with dry skin, they can create a moisturizer that specifically addresses that need. Tailoring their products to meet the needs of their consumers means brands can gain a competitive advantage and increase customer loyalty.
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