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How to Use Partnerships & Tools for Shorter Time-to-market?

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Arnonbrian
How to Use Partnerships & Tools for Shorter Time-to-market?

As a retail brand or distributor, time is of the essence, especially when you want to expand your retail operations to newer markets or launch a new product. So, how much time to market should you have?

What is time to market?

Time to market (also called TTM or time-to-market) is defined as the period from the conception of a new idea until it is released to the marketplace. Another definition: it is the time between when the team starts work and when the first unit is sold. Since research has shown that new market entrants enjoy clear advantages in terms of market share, revenue and sales growth, time to market is one of the essential product development KPIs or metrics. Many product development strategies depend on being first to market

The speed at which companies can introduce products into the market is critical for sustaining competitive advantage, and the reduction of product development cycle time has become a strategic objective for many technology-driven firms. The concept explores how this can be achieved and offers some practical examples and success factors.

With Time To Market Accelerator, we help you to build a business case around the piece that you want to develop, we validate that business case with your real users and develop the software without interfering with your internal roadmap allowing you to reduce your time to market.

The meaning of time to market can vary from business to business. For the retail industry, it refers to the time taken by a business to study and understand an audience, commit resources and set up offline/online stores and start selling to them. Alternatively, launching a product in a new market is also called time-to-market.

 

https://www.anchanto.com/resources/blogs/how-to-use-partnerships-and-tools-for-shorter-time-to-market?aci=5mt5jQYeWdw0CGlpcjORha

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