Slow and steady

Most companies aspire to develop the cutting-edge products and services that will enable them to secure a market position ahead of their competitors. But the struggle to be the first-to-market also comes with pitfalls, setbacks--and often, second-place finishes. This article discusses how organizations can advantageously respond when competitors are the first-to-market with a cutting-edge product or service. In doing so, it looks at the one element that most often determines business success, the one which supersedes first-to-market. It overviews a case study of an innovative Dell printer that failed to reach market before a similar product released by a competitor, one which Dell now outsells. It then explains the advantages of being second-to-market, noting how companies can learn about their own new products and services by studying those offered by competitors. It also identifies the criteria that cleanroom-apparel manufacturer Kimberly-Clark uses to define--and its process to develop--a good product. Acc
registered user content locked

Log in or join PMI to gain access

or Account Registration

Advertisement

Advertisement

Related Content

  • PM Network

    Jet Setters member content locked

    By Fister Gale, Sarah Like any leading aerospace company, Embraer is driven by a mission to aim higher. The company ranks as one of the world's largest commercial jet manufacturers, but with newer, more fuel-efficient…

  • PM Network

    Weighing the Options member content locked

    By Oyvetsky, Marat In today's digital-first world, companies can't afford to make mistakes when they pursue major technology improvements. But with so many requirements and stakeholders, these improvements are not an…

  • PM Network

    Real Advantage member content locked

    Artificial intelligence (AI) provides the opportunity to streamline and improve project work, according to PMI's latest Pulse of the Profession® research. Here's how top organizations and project…

  • PM Network

    Animal-Free Attraction member content locked

    By Bishel, Ashley Veganism has gone from fringe to fad to on fire—and the business world is hungry for more. The vegan food industry recorded 20 percent year-over-year growth last year in the United States, with…

  • PM Network

    Strategic Balance member content locked

    PM Network interview Susana Molina, PMP, CIO at Veolia Ecuador about maintaining strategic balance across business units in nearly 40 countries.

Advertisement

Publishing or acceptance of an advertisement is neither a guarantee nor endorsement of the advertiser's product or service. View advertising policy.