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Good question Reem ! whenever we set product sales or product development goals, we must also set time frames for individual projects and prospects based on potential (Intrest & need), business volumes and our budget.
For better understanding: You always give priority to some of your prospects based on above mentioned points so you set comparatively longer time frame for big prospects and short for middle market.
For new product, as a marketeting personal, you need to develop a complete survey plan based on market need, competetion, product cost, advantages and disadvantages etc and you make your strategy and plans to market a product and link it with sales following above mentioned points.
Your second question is also linked with first as it will always depend on your homework.