Speed to market
2 June 2010 | Source: Business Management Systems
Why is it so important?
Decreased speed to market means giving the competition the upper hand when it comes to innovation, allowing them to reach consumers with new products before you do. This gives other businesses the opportunity to dominate the market, even with a substandard product—simply because they got there first.
Slow speed to market allows your brand’s aesthetic to become stale before it ever hits shelves, preventing you from staying on top of the design curve. It allows you to develop a reputation for being a follower rather than an industry leader.
Sounds like a pretty critical issue, right? It is.
So what can be done to speed your time to market?