Time to Market - Definition
Written by Jason Gordon
Updated at December 16th, 2020
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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.
- Minimised TTM- managers that want to minimise cost or labor use this type of TTM. This type of TTM cuts expenses and labor.
Academic Research on TTM (Time to market)
- New product development: The performance and time-to-market tradeoff, Cohen, M. A., Eliasberg, J., & Ho, T. H. (1996). Management Science, 42(2), 173-186.
- New product development structures and time-to-market, Datar, S., Jordan, C., Kekre, S., Rajiv, S., & Srinivasan, K. (1997). Management Science, 43(4), 452-464.
- Performance and time to market: Accelerating cycle time with overlapping stages, Calantone, R. J., & Di Benedetto, C. A. (2000). IEEE Transactions on Engineering Management, 47(2), 232-244.
- Time to market, Pawar, K. S., Menon, U., & Riedel, J. C. (1994). Integrated manufacturing systems, 5(1), 14-22.
- Investing in product development and production capabilities: The crucial linkage between time-to-market and ramp-up time, Carrillo, J. E., & Franza, R. M. (2006). European Journal of Operational Research, 171(2), 536-556.
- Time-to-market: Put speed in product development, Vesey, J. T. (1992). Industrial Marketing Management, 21(2), 151-158.
- Time to market prediction using type-2 fuzzy sets, Baguley, P., Page, T., Koliza, V., & Maropoulos, P. (2006). Journal of Manufacturing Technology Management, 17(4), 513-520.
- Design for manufacturability and time-to-market, Part 1: theoretical foundations, Youssef, M. A. (1994). International Journal of Operations & Production Management, 14(12), 6-21.
- The influence of time-to-market and target costing in the new product development success, Afonso, P., Nunes, M., Paisana, A., & Braga, A. (2008). International Journal of Production Economics, 115(2), 559-568.
- Quality and time-to-market trade-offs when there are multiple product generations, Morgan, L. O., Morgan, R. M., & Moore, W. L. (2001). Manufacturing & Service Operations Management, 3(2), 89-104.
- New product development process and time-to-market in the generic pharmaceutical industry, Pranikar, J., & kerlj, T. (2006). Industrial Marketing Management, 35(6), 690-702.