time to market
Definition:
Literally the time taken to bring a new product into the market. Because of increased competition and the effects of accelerating technological change the elapsed time to market launch has become of growing concern to those responsible for NEW PRODUCT DEVELOPMENT with clear evidence that late commercialization results in a significant decline in potential profits. In consequence many firms now skip the TEST MARKETING stage and go directly to a full launch.
Cross-References:
[test marketing]
[new product development (NPD)]
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker],.