New product introduction: reducing time to market using Internet and Intranet technology

The rate of technological advances over the past five to ten years has resulted in shortened product life cycles, making it necessary to engage in a continuous and rapid introduction of new products. The ability to anticipate and respond to market pressures makes the timely introduction of new products a crucial competency within many industries. While technological advances have driven the need for a reduced time to market, they also have provided tools to aid in the reduction of product development cycle time. This paper examines how the use of the Internet and Intranet in the new product introduction process can reduce time to market by facilitating increased levels of communication within a company and between a company and its customers, based on literature searches as well as interviews