Time to Market - Explained
What is Time to Market?
Written by Jason Gordon
Updated at August 2nd, 2023
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What is Time to Market (TTM)?
Time to Market is the period of time from the conception of a product to its final production or availability for sale in the market.
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Types of Time To Market
The primary goal of every company is to provide quality products for their customers in the shortest time possible. The major types of TTM are:
- Speedy TTM- This is about pure speed, though it is not the best objective, many organizations use it. The company's goal is to deliver the product as quickly as possible.
- Predictable schedules TTM- in this case, the products are schedules to meet customers needs at specific time, so they are produced and delivered based on schedule.
- Flexible TTM- here, time to market changes because the goal is customers satisfaction. So, production time is flexible to suit the needs of the customers.
- Minimized TTM- managers that want to minimize cost or labor use this type of TTM. This type of TTM cuts expenses and labor.
