Description
One way to continue growing is through expanding your product portfolio. However, companies often make mistakes when looking to expand, choosing oversaturated or slow growing categories, moving into areas that don’t resonate with consumers, or moving too far from core competencies and value propositions. I will help you create a product expansion plan that identifies prime areas for growth without sacrificing what you have already built.
SCOPE:
- 1 hour kick-off meeting to understand your business, align on priorities, and obtain information on your core competencies and product lines
- 3-4 – 30 minute follow up meetings to delve into additional questions and to make sure that recommendations are meeting your needs
- Consultant will put together and present a product expansion plan
DELIVERABLES/OUTPUTS:
- Presentation outlining my recommended product expansion plan. Recommendations will include product categories and growth areas your company should pursue based on your strengths and weaknesses, industry trends, competitive environment, and other factors specific to your industry
- PDF version of the plan will be provided as well
TIMING: Project is expected to take 4 weeks to complete, though it is somewhat dependent on client’s needs and responsiveness
ASSUMPTIONS:
- Client will provide necessary information on the company, product lines, core competencies, available resources, etc. to help inform the plan
- Client will provide a point of contact that will answer any necessary questions during the project
- Depending on the industry, some additional tools may be required to enhance report accuracy and integrity. Those tools may require additional expenses, but those expenses will be approved by the client before purchase or can be waived with some impact to the final report
- Includes a round of revisions (if desired) based on client feedback
