Research refers to any new science or thinking that will result in a new product or new features for an existing product. Research can be broken down into either basic research or applied research. Basic research seeks to delve into scientific principles from an academic standpoint, while applied research seeks to use that basic research in a real-world setting.
The development portion refers to the actual application of the new science or thinking so that a new or increasingly better product or service can begin to take shape. Basic research generates new ideas, principles, and theories, which may not be immediately utilized but nonetheless, form the basis of progress and development in different fields.