PRODUCT PORTFOLIO OPTIMISATION
It is rare for a product to remain on the market without some sort of modification or update or for a service to be offered in new ways.
This coupled with the pace of change in technology leads to shorter product life cycles and shorter durations between updates.
To maximise revenue it is vital to get your portfolio mix of products and services at different stages in their lifecycle correct and clear criteria are set as to when a product should be removed from the market or service offering discontinued.
We support clients to help them better understand their product and service mix to maximise revenue. We cover areas such as: which products have been on the market the longest, which products are outdated, which products are having biggest positive revenue impact (and why), which are having a negative revenue impact and if so is this intentional (see our pricing strategy services).
We bring structure and visibility to product and service portfolios. This involves developing metrics to identify where a client's existing products (or product families) are in their lifecycle and the criteria for updating or discontinuing products and or services.
Working with client teams such as innovation, customer insights and product teams we create future product and service roadmaps which we align with wider corporate objectives.
Our approach includes how best to structure product and or service portfolios in a clear way for ease of communication out to customers whether online or in a physical location to make purchase decisions simpler and faster positively impacting revenue.