Your product line's revenue, profitability, reputation, and survival are based solely on the products and services you provide your customers and potential new markets.
A key part to the long-term success of your business is having a full line of products. In this case, a full line does not mean every option you can imagine. It means having products in your line-up that cover at least three of these quadrants that represent the life cycle of the products.
You cannot survive long if you rely on products in only one and possibly two lifecycle 'quadrants'. As the strength of the brand of a singular product line decays over time, you must bolster and eventually replace it to maintain profitability and the brand strength of your combined offering.
Allowing gaps to enter the product line gives your competitors an opening for them to lever open the gap into a chasm they can exploit.
Products normally decay in a "Z" pattern starting in the top right quadrant and end in the bottom left. In a fast-evolving market, some quadrants may be bypassed.
Call me if you'd like to discuss how this applies to your business and we can improve the performance of your product commercialization efforts.
P.S. We are always happy to help. Here's a quick refresher on the type of work we do.
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