Identify and discuss the concept of time to market with respect to the Essay

Identify and discuss the concept of time to market with respect to the commercialization - Essay Example Launching a product is the ultimate stage in its development and is the stage where most resources are put into play in acts such as advertisement of the product, its promotion and other acts aimed at marketing it. According to Kotler (2008), a marketer or the company must therefore decide on the action plan for introducing the product in the market through a proper implementation of its decisions through the development of a marketing mix that has a proper budget, of which timing is integral. The time to launch and market a product varies depending on companies or the marketer as well as how complex the product is and for the purposes of a marketer launching a product, time is defined as the period from the time the product is conceived until it is launched (Cooper, 2001). Time plays an important factor in the success of a product and it is important that marketers launch their products at the time when there is a good economic situation in order to reap from maximum sales of the products (Kotler, 2003). Market researchers have argued before that, in order to have a maximum uptake of your product that will ultimately lead to value addition of the product. The marketer must avoid any acts that may seem to be aimed at cannibalizing products that are already in the market and the products should only be launched when there are no improvements that can be made to it in the near future. Further, marketers must be aware that the commercialization plan can only be successful wh en the timing of the launch is the correct time (Masterson and Pickton, 2010). When faced with the danger of cannibalizing the uptake of other products marketed by the marketer or their sales, or when the economy is facing a downturn, the launch of the product should be delayed. Value creation a product intended for the market depends on a number of factors that must be able to satisfy the often compelling and competitive needs of the customer. This is because, by delivering products of