5. Trigger product studies at the right time

To avoid falling behind the product renewal cycle (see diagram below):

• estimate the time required for the gestation of a version 2 product study;

• launch your version 2 product study in phase 3, at the height of version 1 product development;

• bring the new version 2 product to market in the middle of phase 4, when version 1 is fully mature.

The advantage is :

• finance the design and marketing phases of version 2 with the benefits generated by version 1;

• keep sales and profits constant;

• remain market leader and stay one step ahead of the competition.