In the context of criteria used to prioritize product ideas, time to market refers to the time taken to ________.
A) create awareness about a product among new market segments
B) generate product ideas using internal forces
C) develop and get the product to market
D) get the product through the introduction stage to the growth stage
E) analyze market conditions to forecast sales

Question

Quizplus · Accepted Answer

Time to market refers to the time taken to develop and get the product to market. It includes all the steps necessary to bring a product from conception to market launch, including research and development, testing, design, production, and marketing. This criterion is often used to prioritize product ideas because companies want to minimize the time it takes to get their products to market, in order to gain a competitive advantage and capture market share.

In the Context of Criteria Used to Prioritize Product Ideas