New research conducted by Bayes Business School (formerly Cass) demonstrates that being at the forefront of technology alone is insufficient for market success. However, the strategic timing of product launches can harness opportunities and build credibility for firms, offering a promising path to success. Dr. Thomas Robinson, Senior Lecturer in Marketing at Bayes, and Dr. Ela Veresiu, Associate Professor of Marketing at the Schulich School of Business, York University, Toronto, spearheaded this study. They have crafted a framework to guide organisations in pinpointing the most favourable situations for launching products.

The research delineates four distinct timing scenarios that marketing managers might encounter. Understanding the characteristics of each scenario enables firms to devise a launch strategy aimed at success. The scenarios include synergistic timing, where the market and stakeholders are primed for new products, epitomising an ideal launch condition. Flexible timing involves minimal coordination by the firm but a high readiness for change among stakeholders. This timing could evolve into synergistic if the firm decides to release a product early or engage stakeholders by gradually releasing information or sharing setbacks.

In contrast, inflexible timing presents a challenging scenario where stakeholder resistance to change necessitates a proactive approach by the firm to foster an appetite for new technology. This might involve simplifying the technology or enhancing user-friendliness to transition towards a more favourable timing. Antagonistic timing, where low stakeholder readiness and firm coordination are the least favourable conditions for launching new technology.

The paper references the unsuccessful 2013 launch of Google Glass to illustrate the pitfalls of poor timing. The product was introduced before the firm was ready, and consumers were willing to embrace its functionality, which led to significant backlash. In contrast, a decade later, the market conditions have evolved to favour the acceptance of similar technologies, such as Ray-Ban’s Meta Smart Glasses, highlighting the importance of appropriate timing.

This study underscores that launching new technology is a nuanced social interaction, and timing plays a crucial role in effectively engaging stakeholders. Providing sufficient time shows respect and consideration, while more timing can help stakeholders understand and accept new technology.

This research draws from a wide array of sources, including the Business Source Complete database and numerous high-ranking marketing journals, and is supported by an extensive review of the literature on market legitimacy and timing. This comprehensive approach allowed the researchers to identify prevalent themes and insights on timing, which is crucial for firms aiming to enhance their launch success rates.

Despite introducing 30,000 new products annually, a staggering 95 per cent fail, illustrating the critical nature of timing. The research parallels various life scenarios where timing impacts outcomes, such as relationship dynamics and social etiquette. These examples underscore the pervasive influence of timing norms across different contexts, from product launches to political marketing and the fashion cycle.

Dr. Robinson highlights that while marketers often perceive technology adoption as a straightforward replacement of old with new, the reality is more complex. Technologies that initially fail may re-emerge successfully in what are termed ‘phoenix markets’. Examples include smartwatches, electric cars, and social media platforms that initially failed but later found success. Understanding and applying effective timing strategies could prevent substantial losses and contribute to the revival of previously unsuccessful technologies, offering a valuable learning opportunity for marketers.

To conclude, the timing framework developed through this research not only aids in launching new technologies but also has broader applications across various fields, such as rebranding, mergers, and service design. This illustrates the widespread relevance and potential impact of strategic timing in diverse market dynamics.

More information: Thomas Derek Robinson et al, Timing Legitimacy: Identifying the Optimal Moment to Launch Technology in the Market, Journal of Marketing. DOI: 10.1177/00222429241280405

Journal information: Journal of Marketing Provided by City St George’s, University of London