Explain the significance of time-to-market and how this can be Essay

Explain the significance of time-to-market and how this can be enhanced - Essay Example The concept of time to market is very important for any company or organization. A decreased time to market is good for a company because it makes the sales of the company’s products go high, whereas increased time to market makes a company less competitive. If a company does not pay attention to the significance of the time to market concept, it results in decreasing the overall productivity and profitability of the company, which ultimately makes the company less productive in nature. Generation of revenues is directly related to the time, which a product takes from its development to its availability in the market. Reduction in the time to market of new products and services increases the revenues for a company, whereas delay in the time to market of new products and services not only results in decreasing the revenues but also increases the costs of development. Reduced time to market also increases the productivity for a company. If a company brings its products in the ma rket before any other company brings the same product in the same market, it results in increasing the productivity of the company because the product will be new for the customers and they will like to buy that product which will increase the demand for the that product.