Home
Business Guide





 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
business   »  business strategy   »  time to market

Time to Market Explained

        posted by , June 02, 2013

What Is It?

Time to market is the time it takes you to get new products into the hands of your customers. In other words, your concept-to-launch time.

So What?

A fast time to market can be a significant source of competitive advantage. Potential advantages include:

  1. First to market - grab an early market lead position.

  2. Innovation - new ideas don't stay new for long. Time to market is a requirement for innovation.

  3. Price skimming - when you are first to market with an innovative product you have the option of price skimming.

  4. Reputation - establish a reputation as a market leader.

  5. Reduced risk - betting the company on a product that takes 3 years to develop is higher risk than releasing a new product every 2 weeks.


Time To Market Strategies

The following strategies are known to improve time to market.

  1. Fail fast - fail fast, cheap and safe rather than big, expensive and dangerous.

  2. Rapid prototyping - get prototypes in front of customers as fast as possible. Use cardboard if you have to.

  3. Launch small - forget about big bang launches. Get improvements out the door on a regular basis.

  4. Big cheap pipeline - innovate by sponsoring a large number of mini projects.

  5. Flexible product development - focus on your processes first. When your research & development processes are agile your products will fly out.

  6. Innovation culture - reduce the barriers to change in your culture.

  7. Follow the sun - develop continuous research & development capabilities that span the globe.

  8. Forget perfection - 80% of value comes with the first 20% of effort.

  9. Pilots - launch a pilot as early as possible.


Next: 20+ Innovation Techniques ยป




3 Shares Google Twitter Facebook



Related Articles



Business Strategy
Lists of business strategies and tactics.




Quality is to business what gravity is to the universe. But what is quality?

The words strategic risk strike fear into the hearts of investors and executive leaders everywhere.

There's often confusion about the difference between Responsible and Accountable. Even seasoned program managers sometimes confuse the two. Here's the difference.

The following definitions look at quality from a management, quality assurance, product, marketing, manufacturing and economic point of view.


Recently on Simplicable


6 Consulting Circus Tricks

posted by John Spacey
IT consulting is a tough industry that knows how to get paid.

65 Business Risks (List)

posted by Anna Mar
Risk is celebrated as the brave and alluring basis for economic progress. But risk has a dark side ...

Business Strategy Guide

posted by John Spacey
Strategy is your ability to focus your creative energy to achieve results.

9 Examples of Positive Risk

posted by John Spacey
Positive risk is almost a philosophical thing. It's all in how you look at it. Many people are convinced it doesn't exist.

Sitemap






















about     contact     sitemap     privacy     terms of service     copyright