Time to Market

Time to market (TTM) is a period it takes from a product being conceived until its availability for sale. It encompasses the entire development process. It includes ideation, design, development, testing, and launch. TTM is a critical metric that affects a company's ability to capitalize on market opportunities, respond to competition, and meet customer demands.

What are the important parts of Time to Market?

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    Conceptualization

    The basic stage where the product idea is developed and brainstormed.

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    Design and Prototype Development:

    Product designs and product prototypes are built in this stage.

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    Product Development

    The actual product building happens at this point.

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    Product Testing

    The product is rigorously tested to ensure that the product meets the quality standards and performs as per the expectations. A lot of various checks are performed here.

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    Manufacturing

    Setting up production lines to manufacture the product and prepare it to launch.

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    Marketing and Pre-launch activities

    Strategizing marketing activities while creating promotional materials and targeting the right social media channels.

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    Launch and Distribution

    The last stage after which the product is released to the market from where the customers can directly purchase it.

What is the importance of TTM?

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    Competitive advantage

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    Early investors and venture capitalists get substantial investment returns.

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    Generation of revenue

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    Customer satisfaction

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    Adaptability