3 Advantages of a Fast Development Cycle
December 17, 2017
Three Advantages of a fast development cycle.
Product Sales Life Cycle – A product introduced sooner does not become obsolete sooner, instead it prolongs the sales life cycle. Generally, for every month added to the front of the sales (getting product to market), it will add a month of sales life to the back.
Increased Market Share – First to market grabs 100% of the market. Historically, it means that there’s a long-term lock on the majority of the market because it is difficult for buyers to switch to a competitor.
Higher Profit Margin – Because its a new product, there is more flexibility with pricing due to the lack of competition.