At a high level of generality development speed is associated with new product success. However many, but not all, firms benefit from implementing time-to-market practices to increase speed-to-market. This picture becomes more complicated when considering individual organizations and products as there are organizations and products for which increasing speed-to-market is likely to increase product success, there are others for which it may not.
The success of a new product is determined by two sets of company competencies:
- One related to how familiar and competent new product development teams are with developing new products (technology creation dynamism, i.e. breakthrough, next-generation, incremental), and
- One related to how familiar and competent new business development teams customers with introducing a new product into a market (market structuring logic, i.e. who needs to accept the new product)
These two sets of company competency needs vary across industry segments as shown by the “R&D Games matrix for Speed to Market” developed by IRI member companies. When the effects of an organization driving for faster time-to-market speeds is overlaid on this matrix, the rough benefits of doing so can be seen for various industries.