time-to-market

Vocabulary Word

Definition

'Time-to-market' refers to the length of time it takes from a product or service concept being developed to being available for customers.

Examples in Different Contexts

In the corporate world, a shortened 'time-to-market' can result in capturing a larger market share. As a CEO might highlight, 'Our quick time-to-market enabled us to outpace our competitors.'

Practice Scenarios

Tech

Scenario:

The coding team has done an excellent job in reducing the development time. Let's look at opportunities to speed up the testing process.

Response:

By introducing automated testing, we could potentially speed up the time-to-market.

Business

Scenario:

Our biggest competitor has recently launched similar products. We need to reassess our strategy.

Response:

In light of the competition, we should aim to shorten our time-to-market while maintaining the same quality.