Product Portfolio

While the product road map paves a way for the future, it is useful to understand the product portfolio as a first step. In a cross functional role, it would help if the product manager has a clear focus on a product line. Quite often product managers are invited to perform roles of varying capacity in different situations. Despite that, the product manager should strive to identify himself with a particular product portfolio. This focus helps in the career development as a general manager of the particular product line.

Linda Gorchels (The Product Manager's Handbook) identifies such a product manager as a 'heavyweight product manager'. A heavyweight product manager gives his words weight and influences people over whom he has no formal authority. This can be seen as the product management's version of 'Knowledge is power'.

An unenviable task while framing the product portfolio is determining which of the products can be termed as legacy products. Legacy products are products that have more educational value than revenue potential. Legacy products often form the templates for new product designs. They would however be characterized by low sales volume, outdated technology and high cost of maintenance. A product manager should strive to identify these attributes in the product portfolio. Invariably there will be more than one match. Once they are identified, the product manager can check with sales and supply chain before formulating an EOL (End of Life) for these products. The EOL notice should then be issued to customers who last used these products. The customer would at times request technical support that extends a little beyond the EOL time period.

'Weeding' out the legacy products gives puts the product portfolio in clear perspective. This leads to product line planning.

 

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