Speed to market refers to the rapid introduction of changes or innovations in a product to gain a competitive advantage. Its importance lies in providing competitive advantages, enabling premium pricing opportunities, and enhancing a company's reputation, though it may also lead to hasty decisions and potential product failure. The process involves four dimensions: define, decide, deliver, and carries both advantages and disadvantages.

2. What is Speed to Market?
Speed to market is the
pace of introducing any
change, innovation or
creativity in the product in
the market to gain the
first mover advantage
before others.

3. What is its importance?
•Competitive advantage
•Introduces the product
innovation before the
technology changes.
•Gets the company
premium pricing
opportunity.

4. Four dimensions of Speed to
Market
Speed
to
market
Direct
Define
Decide
Deliver

5. Advantages
 Brings the
spot light to
the new
product.
 Helps in
obtaining
new
opportunitie
s
 Increases
the image
and goodwill
of the
company

6. Disadvantages
 May lead to
wrong decisions.
 Delay may lead to
loosing the first
mover advantage.
 Can cause the
new product to
fail

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