Opportunity: Improve Product line

What results do you want to achieve?

Improving a product line is not easy.  New products more typically fail expectations than meet or beat them.  Most companies find it tough to cull under-performing products. 

Do any of these common challenges sound familiar?:

• You wrestle with when to match existing products in the marketplace and when to boldly create new spaces.
• You now have a brand positioning, but you need to strengthen your product line to live up to the brand positioning.
• You think you have too many poor-performing SKUs, and they clutter up your warehouses and cash-flow.
• Your product line grown with new SKUs, but customers find it hard to understand the line and what they should carry.
  
• Your overall strategies are in decent shape, but you want to deep dive on a specific goal, initiative, or product area.
• Your margins may have slipped on your core business, and you need that business healthy to drive future growth.

What "Paths to Results" can help?

WisePath can help you with projects that provide a path to:

• Assess how your product line covers market needs, and identify gaps and duplications within the line.
  

• Identify new product opportunities through "Blue Ocean" analyses, as well as technology and trend scans.
  

• Develop top-line approach to institute a "Stage Gate" development process.
• Identify low performing SKUs, and define a plan to fix the product line that maximizes upside and minimizes downside.
• Simplify the product portfolio to reduce cost of goods, manufacturing overhead, and working capital.
• Improve your overall pricing so it better reflects the value you provide, costs you incur and the competitive realities you face.
• Tailor your pricing at a product level to improve how your customers "trade up" to pack sizes, quality levels, etc.
  
  

See a case study about the impact of a well-structured product management approach to launch new items and clean out old ones here.  And see a case study about choosing the right product line strategy here