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3.2 Product Grouping and Analysis
(Note: Multiple frameworks are provided here to aid you in crafting a
robust PRD… PLM, BCG Matrix, Ansoff Matrix, etc. However,
everything may not be applicable in your case. Use what is relevant,
and delete the rest. Please also browse the link on product strategy on
the Franteractive webite:
http://www.franteractive.com/Product%20Strategy3.html)
<< A company typically has a set of products, unless the company is a
start-up and the PRD is being written for the first product. If a company
has several products, and the PRD is being crafted for a new product
or to enhance an existing product line or product mix, a distinction
needs to be made between the product mix and the product line, so
that the competitive dynamics of the product being developed is clearly
understood, and the value proposition of the product is forcefully
articulated. >>
(Note: A product line is one part of the overall product mix, the later being the
total set of products and services that a company offers. So, the product(s) the
PRD is being written for typically is part of a product line. In this section,
current revenue / profits and future revenue / profit projections can be
analyzed as part of the decision criteria as to why a product is being added or
cut, or which products are being re-engineered.)
<<The BCG Matrix described in the section on Product Project
Evaluation can also be used to put products into business units /
product lines with differing growth rates…>>
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