Time-to-Market (TTM) is a term used in product management that refers to the amount of time it takes for a product to be developed, tested, and launched into the market. It is a critical metric for businesses as it directly impacts their ability to compete and succeed in the market.
TTM is important because it determines how quickly a company can bring a product to market and start generating revenue. The faster a product is launched, the sooner a company can start earning profits and gaining market share. In today's fast-paced business environment, companies that can bring products to market quickly have a significant competitive advantage over those that cannot.
Several factors can affect TTM, including:
There are several strategies that companies can use to improve their TTM:
Time-to-Market (TTM) is a critical metric for businesses that want to compete and succeed in the market. By understanding the factors that affect TTM and implementing strategies to improve it, companies can bring products to market faster, start generating revenue sooner, and gain a competitive advantage over their rivals.