What does the term 'timing' refer to in the context of factors impacting innovation success?

In the context of factors impacting innovation success, 'timing' specifically refers to the appropriate moment to launch a product. This concept is crucial because even a well-developed product can fail if it is introduced to the market at the wrong time. For instance, launching a technology that is ahead of its time may result in low adoption rates since potential users might not be ready for it. Conversely, entering the market too late, when competitors have already established themselves, can also hinder success. Effective timing considers market readiness, consumer demand, and external factors, ensuring that the innovation can achieve maximum impact upon release.

In contrast, the speed of product delivery relates more to operational efficiency rather than strategic market entry. The duration of product usage focuses on how long a consumer utilizes a product after purchase, and the time taken to develop a prototype is an aspect of the development process itself. While these factors are important in their own right, they do not encapsulate the strategic significance of determining the right moment for a product launch, which is vital for the success of innovation.