What are Product and/or Service Portfolios
Some businesses sell just one product or service. Many others sell more than one. These are called product or Service portfolios.
Analysing Product/Service Portfolios
For business which do sell more than one product or service, StratNavApp.com can help you to analyse their product or service portfolio using:
- The BCG Matrix - you can learn more about BCG Analysis here.
- Pareto Analysis - you can learn more about Pareto Analysis here.
You can also use the Ansoff Matrix to analyse options for expanding your product/service portfolio.
Providing Detals for each Product or Service
For each product or service, you can give it:
- a name,
- a description, and
- if it is a:
- Legacy Product: a product or service the organisation no longer sells, but for which it may still have maintenance, service or warranty obligations,
- Current Product: a product or service the organisation currently sells, or
- Future Product: a product or service the organisation is considering or planning to sell.
You can then specify its:
- Market share: the amount of this product or service this business sells as a percentage of all similar products or services sold by all businesses within this business market.
- Market growth rate: the rate at which the market for this product or service is growing, expressed as a percentage.
- Contribution: the total revenue less direct expenses earned by this product within the last reporting period.
Market share and market growth rate are used for the BCG Matrix. Contribution is used in the Pareto analysis. The values should be reviewed and updated on a regular basis to ensure the product/service portfolio remains fit for purpose.
Linking Products and services to other elements of your strategy
You can also:
- Create or link insights about this product or service.
See also: Working with Insights and Insight-based models. - Create or link initiatives acting on this product or service. Initiatives could be used to launch, alter or withdraw products or services in their entirety or to specific markets.
See also Unlocking the Power of Strategic Initiatives for Business Success. - Create or link actions linked to this product or service. See also:
Where to find Products and Services in StratNavApp
- Sign up or sign in to StratNavApp.com
- Click "Analysis" on the left hand menu.
- Click "Portfolio" on the drop down menu which appears.
- You can add or edit products and services from the BCG Matrix or Pareto screens which open up.
You can also find products in the Customer Value Maps which appear when you click on a Customer Segment in the Lean Canvas or Business Model Canvas.
