Measuring the Opportunity Cost of Late Access to the Market of Products

The purpose of this study is to measure the opportunity cost of late access to the market. This opportunity cost is measured by the percentage of sales or revenue loss from to 2018-2022 of an Iraqi textile companies. This opportunity cost gives more attention to an important factor in the decision process regarding market access, which is time to market. The study focused on one product of the companies that is cotton clothing as data were collected for the period 2018-2022 to calculate the percentage of sales or revenue loss due to the late introduction of this product to the market. This study adopts a model developed by Prasad (1997) with a market window of 30 days or one month, which was used by these companies. The results show that the opportunity cost increased during the period of the study because of late introduction of the products indicating that the firms will lose the market share for their competitors. The main implication of this study is that managers should make a decision to use the idle energy and introduce a product faster to maintain its market share and reduce the level of competition.