Do you think that due to little time and money spent on R&D - it results in loss of clients and a non-competitive product?

I noticed that some companies do not spend time or enough money on R&D which can result in a poor product and the competitors getting ahead. Sometimes visionaries are 'shot down' when they actually follow the trends and look at how things change going into the future. Once management sees value and necessity for change to keep with the latest they then want to try a quick fix which costs them more than investing time and money in R&D in the first place.